Saudi Arabia’s Sela, a Public Investment Fund company, and Egypt’s Talaat Moustafa Group (TMG) have launched a strategic consortium to create and manage an integrated entertainment ecosystem and live events in Egypt.
The agreement was launched in the presence of Turki bin Abdulmohsen Alalshikh, Chairman of the Board of Directors of Saudi Arabia’s General Entertainment Authority (GEA).
Under the partnership, Sela will lead the development and operation of live experiences and events, including venue operations, festivals, concerts, and on-ground execution. TMG will act as the destination and community partner, leveraging its real estate assets, hospitality platforms, and large-scale communities across Egypt.
The consortium plans to deliver a range of entertainment and cultural offerings, including concerts, festivals, seasonal events, family experiences, theatre and comedy shows, and sports events. A flagship initiative under the agreement is “The Corridor,” a cross-border entertainment platform connecting Saudi Arabia and Egypt through a curated lineup of cultural and entertainment events.
Sela Managing Director Dr. Rakan Alharthy said the consortium marks a new milestone in the company’s international presence.
“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,” Alharthy said.
“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,” he added.
Hisham Talaat Moustafa, Group CEO and Managing Director of Talaat Moustafa Holding Group, said the collaboration aims to drive a qualitative shift across entertainment, culture, arts, and sports in Egypt.
Moustafa said the consortium supports the group’s vision of developing vibrant communities that offer a sustainable quality of life, create added economic value, contribute to recurring revenue growth, and position its urban communities as attractive destinations on the regional and global entertainment tourism map.
The consortium combines Sela’s background in experience design, event management, and content creation with TMG’s capabilities in residential, commercial, and hospitality development.
Founded in 1997 as the first Saudi company accredited by FIFA for athlete representation, Sela has since expanded into sports marketing, live experiences, destination development, and event management. The company has developed and operated destinations including Boulevard City, Boulevard World, Via Riyadh, Jeddah Superdome, and the Jeddah Yacht Club, while expanding into major global cities, including London and Las Vegas.
Talaat Moustafa Group, operating for nearly 55 years, has developed fully integrated cities across Egypt, including Madinaty, Al Rehab, and Noor in East Cairo, and is currently developing SouthMED on Egypt’s North West Coast. The group also holds international projects in Saudi Arabia and Oman. Its hospitality portfolio comprises 16 hotels operated under brands including Four Seasons, Kempinski, Marriott, and Mandarin Oriental, totalling nearly 5,000 rooms and suites and accommodating approximately 1.5m visitors annually.
‘ The preceding article may include information circulated by third parties ’
‘ Some details of this article were extracted from the following source www.dailynewsegypt.com ’
