In the presence of His Excellency Turki Alalshikh, Chairman of the General Entertainment Authority (GEA), Sela, a Public Investment Fund company and one of Saudi Arabia’s leading entertainment and destination developers, announced the launch of a strategic consortium with Talaat Moustafa Group (TMG), one of Egypt’s largest real estate and urban development companies, aimed at creating and operating a comprehensive entertainment ecosystem in Egypt.
The partnership combines Sela’s expertise in experience design, live entertainment, destination development, and content creation with TMG’s extensive capabilities in integrated urban development, hospitality, and destination management. The consortium is expected to contribute to expanding Egypt’s entertainment sector and strengthening its position as a regional hub for live experiences and entertainment tourism.
The announcement reflects the growing momentum of Saudi-Egyptian collaboration across the entertainment, tourism, and investment sectors, while aligning with broader regional ambitions to diversify economies and strengthen cultural industries.
Dr. Rakan Alharthy, Managing Director of Sela, described the consortium as a major milestone in the company’s international expansion strategy.
“At Sela, we are driven by a clear vision to redefine experiences by developing destinations, events, and content that leave a lasting impact extending beyond the moment,” Alharthy said.
He added that Sela has established a strong presence in Saudi Arabia through delivering some of the Kingdom’s largest entertainment and cultural events before expanding into major international markets, including London and Las Vegas.
“Our entry into Egypt through a strategic consortium of this scale reflects a natural progression in Sela’s regional expansion, building on Saudi expertise that has proven its strength in leading global markets and can now contribute to the wider region’s entertainment landscape,” he added.
Hisham Talaat Moustafa, Group CEO and Managing Director of Talaat Moustafa Group, said the collaboration aims to create a transformative shift across Egypt’s entertainment, cultural, artistic, and sports sectors.
He noted that the consortium aligns with TMG’s vision of developing vibrant and sustainable communities that enhance quality of life while generating long-term economic and social value.
Moustafa added that the partnership is also expected to strengthen recurring revenue streams and position TMG’s integrated urban destinations, supported by advanced infrastructure and hospitality offerings, as attractive destinations on the regional and international entertainment tourism map.
Under the agreement, Sela will lead the development and operation of live entertainment experiences and events across Egypt, including venue operations, concerts, festivals, seasonal experiences, and large-scale event execution.
TMG will serve as the destination and community partner, leveraging its extensive real estate portfolio, hospitality assets, and large-scale communities across the Egyptian market.
The consortium plans to introduce a diversified portfolio of entertainment offerings, including concerts, festivals, family entertainment experiences, theater productions, comedy performances, and sports events.
One of the flagship initiatives announced under the partnership is “The Corridor,” a cross-border entertainment platform connecting Saudi Arabia and Egypt through an integrated calendar of curated cultural and entertainment experiences.
The initiative is expected to strengthen entertainment tourism flows between both countries while supporting broader regional cultural exchange and private sector collaboration in the rapidly growing entertainment economy.
‘ The preceding article may include information circulated by third parties ’
‘ Some details of this article were extracted from the following source www.dailynewsegypt.com ’
