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Egyptian billionaire Naguib Sawiris has listed his London apartment in the upscale Knightsbridge district for about £70 million ($92.5 million), a price that places it among the most expensive properties on the market and could make it London’s priciest apartment sale of 2025 if it finds a buyer before year’s end.
The London apartment owned by Egyptian billionaire Naguib Sawiris, which he recently put up for sale in the upscale Knightsbridge district, includes a penthouse and a private terrace with a swimming pool overlooking panoramic views of the city.
According to Bloomberg, the property—listed for about £70 million ($92.5 million or 4.34 billion Egyptian pounds)—is among the most expensive apartments in London and is likely to become the city’s priciest apartment deal of the year if sold before the end of 2025.
Knightsbridge, home to many of the world’s wealthiest residents and some of the highest property prices globally, features a similar listing on OnTheMarket: a penthouse at 199 Knightsbridge measuring about 9,500 square feet (882 square meters) with panoramic views of London.
The unit includes a private terrace, a private pool, five bedrooms, five bathrooms, and underground parking. The interior spans 646.5 square meters, with an additional 230.2-square-meter terrace, bringing the total area to roughly 876.7 square meters.
Sources told the agency that Sawiris’ apartment had been marketed off-market—likely above £80 million (about $106 million)—for months before being publicly listed about a year ago. Sawiris, Egypt’s richest man, built his fortune in telecommunications and gold and may accept offers below the asking price due to weak demand.
Sawiris is the eldest of three billionaire brothers whose wealth traces back to their late father, construction magnate Onsi Sawiris. His fortune is estimated at about $10 billion, according to the Bloomberg Billionaires Index.
He owns stakes in gold mines through La Mancha Resources and previously raised more than $4 billion by selling his stake in VimpelCom nearly 15 years ago.
Bloomberg reported in April that his brother Nassef moved from London to Abu Dhabi and Italy about a year ago. Forbes’ 2025 World Billionaires List puts the Sawiris family’s combined net worth at $14.6 billion—$9.6 billion for Nassef and $5 billion for Naguib—while Samih has dropped off the list.
Sawiris’ price cut comes amid a deepening slump in London’s luxury property market, which has seen steep declines following higher stamp duty and the removal of tax breaks for ultra-wealthy foreign residents.
Prices of homes valued above £5 million (about $6.6 million) fell 27% between August and October compared with the same period last year—more than double the average decline between 2017 and 2019—according to research firm LonRes.
In June, UK luxury brokerage Sotheby’s International Realty cut the asking price of a Mayfair penthouse from £85 million (about $112.5 million) to £68 million (about $90 million), after it was initially listed for about £100 million (about $132 million).
Speculation over further tax increases ahead of the United Kingdom’s Nov. 26 budget—including changes to capital gains exemptions and the proposed “mansion ”tax”—added additional pressure, weakening demand for high-end properties.
In October, transactions above £5 million dropped 65% from a year earlier, LonRes data showed. Wealthy residents also faced rising taxes on offshore assets and new fees on private school tuition.
Still, home values in Knightsbridge—home to the luxury Harrods store—remained 24% above the prime central London average in the year to September, down from more than 50% in 2012. In nearby Mayfair, that premium rose to 50% from 27% over the same period, while other upscale areas, including Belgravia and Marylebone, also recorded gains.
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