Shafaq News/ Najeeb Sawiris, the Egyptian businessman, confirmed on Wednesday his intention to launch a "massive" real estate project in Iraq, marking his return to the Iraqi market where he previously invested in the telecommunications sector about 20 years ago.

In a statement to the press, Sawiris stated that the project would be carried out through his company, "Aura" for Development. However, he did not disclose the size of the project's investments.

Sawiris had earlier posted a photo on his Twitter page showing him with the Iraqi Prime Minister, Mohammed Shia Al-Sudani, discussing their meeting and their inclination to launch a giant project in Iraq.

The real estate investment experience in Iraq is a first for the Egyptian billionaire, although he previously operated in the Iraqi telecommunications market in 2003 through the mobile network "Iraqna," which he later exited.

Earlier, Sawiris announced details of his meeting with Al-Sudani, emphasizing that the meeting resulted in a massive project in Baghdad.

Sawiris shared a photo on his Twitter account featuring himself and Al-Sudani, captioning it with the words: "A fruitful meeting for a giant project in Baghdad," and added, "My best wishes to the President's country for success in achieving its aspirations for a bright future for the Iraqi people."

Sawiris, who owns two television channels and Egyptian newspapers, is estimated to have a fortune of $2.9 billion.