Fouad Darwish, CEO and Managing Director of Palms Sports, confirmed that the strategic partnership with Egypt’s Al Ahly Club marks a pivotal milestone in the company’s expansion beyond the UAE, specifically in a culturally and athletically vibrant market like Egypt.
Speaking on the Money Secrets podcast with economic content creator Ahmed Elgamal, Darwish clarified that Palms Sports is not entering Egypt merely as an investor, but rather as an operator of one of the region’s largest sports projects: Al Ahly Sports City. It is a project that has been in the works for over 30 years. “We are entering as an operating partner focused on investing in human capital, not just infrastructure. The project will include stadiums, schools, residential units, and healthcare and educational facilities,” he said.
Darwish emphasized that this direction reflects the core of the UAE’s development vision, which places people first and prioritizes innovation and sustainability in sports investment. He also highlighted Abu Dhabi’s world-class sports infrastructure, which has enabled Palms Sports to expand through key acquisitions and international partnerships, such as its recent collaboration with Neftçi PFK in Azerbaijan.
He added that Palms Sports has become the first sports company in the region to be publicly listed on the Abu Dhabi Securities Exchange, reaching a valuation of AED 1 billion, underscoring the success of its business model built on community partnership and operational innovation.