Cairo-Mubasher: Saudi Arabia-based Al Othaim Leisure and Tourism Co. plans to invest $300 million (EGP 2.3 billion) in Egypt over the next five years, said CEO Fahad Al Othaim.

"We plan to open two new projects in Cairo this year," the CEO said, expecting his company to start the global brand business of fashion and accessories by the end of 2016.

The company also plans to expand in fashion and global brands in 2017, in addition to restaurants and coffees through franchise.

He also indicated that My Town and FabyLand projects offer more than 100 job opportunities in Egypt, and the planned projects will offer more jobs.

"Among the factors that attract us to Egypt is that it is one of most promising markets and a large consuming market on the great number of population and manpower that boost investments," the CEO said.