In the presence of HE Turki bin Abdulmohsen Alalshikh, Chairman of the Board of Directors of the General Entertainment Authority (GEA), Sela, a Public Investment Fund company and a leading Saudi player in redefining experiences and developing premium destinations across entertainment, sports, and culture, has launched a strategic consortium with Talaat Moustafa Group, one of Egypt’s leading developers of integrated urban communities, dedicated to creating and managing entertainment and live event experiences in Egypt, Invest-Gate reports.
Objectives of the Consortium
The consortium combines Sela’s expertise in experience design, event management, and content creation with TMG’s capabilities in developing residential, commercial, and hospitality destinations. It marks the beginning of a collaboration aimed at expanding Egypt’s entertainment offering and creating new experiences for audiences across the country in the years ahead.
Statements by Dr. Rakan Alharthy
Dr. Rakan Alharthy, Managing Director of Sela, said the consortium marks a new milestone in Sela’s growing international presence. “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 said.
Sela’s Regional and International Expansion
“Sela has built a strong presence in Saudi Arabia by delivering some of the country’s largest and most diverse events, before expanding into major global cities, 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.
Statements by Hisham Talaat Moustafa
Hisham Talaat Moustafa, Group CEO and Managing Director of Talaat Moustafa Holding Group, expressed pride in the collaboration, noting that it aims to drive a qualitative shift across entertainment, culture, arts, and sports in Egypt.
He added that the consortium supports the Group’s vision of developing vibrant communities that offer a sustainable quality of life, create real added value for the economy and society, contribute to recurring revenue growth, and position its urban communities with their advanced infrastructure and high quality services as attractive destinations on the regional and global entertainment tourism map.
Roles of Both Parties
As part of the agreement, Sela will lead the development and operation of live experiences and events, including venue operations, festivals, concerts, and on-ground execution. TMG will serve as the destination and community partner, leveraging its extensive real estate assets, strong market presence, hospitality platforms, and large scale communities across Egypt.
Entertainment Activities and Projects
The consortium is expected to deliver a wide range of entertainment and cultural offerings, including concerts, festivals, seasonal events, family experiences, theater and comedy shows, as well as sports events.
One of the flagship initiatives under the consortium is “The Corridor,” a cross-border entertainment platform connecting Saudi Arabia and Egypt through an extended entertainment experience built around a curated lineup of cultural and entertainment events.