Egypt unveils major find of 250 sarcophagi and 150 statuettes in Saqqara


Nada El Sawy
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Egypt has unveiled a major new archaeological find of 250 sarcophagi, 150 small bronze statues of gods and goddesses and other antiquities at the Saqqara necropolis.

Mostafa Waziri, secretary general of Egypt's Supreme Council of Antiquities, displayed part of the cache, including 35 of the painted wooden coffins, in a televised event on Monday at the Unesco Heritage site south of Cairo.

Dating back more than 2,500 years to the Late Period, the sarcophagi are in good condition and all included mummies inside.

This is the largest number of coffins and bronze statues to be unearthed by the Egyptian archaeological mission at the site near the famous Step Pyramid of Djoser.

“I'm very proud that the discovery was made by Egyptians, and this will not be the last discovery here,” Mr Waziri said.

The find is one of several made at Saqqara, the necropolis of the ancient capital of Memphis, in recent years.

The Egyptian mission has completed its fourth excavation of the site since April 2018 and will conduct a fifth in September after the hot summer months.

A “rare” papyrus scroll, expected to measure about nine metres, was also found and could be a depiction of a chapter of the Book of the Dead, a tradition of funerary manuscripts dating back to the Old Kingdom, Mr Waziri said.

The statuettes, displayed in a large glass case, include deities such as Anubis, Amun, Hathor, Isis, Min, Nefertum, Osiris and Bastet — the “protector” of the area in the form of a cat. Mr Waziri highlighted the headless statue of Imhotep, the chief architect of Pharaoh Djoser who ruled ancient Egypt between 2630BC and 2611BC.

Also on display were two larger statues of the goddesses Isis and Nephthys with gilded faces, wailing in mourning.

Among the other antiquities discovered, dating back more than 3,200 years to the New Kingdom, were cosmetic items such as combs, bracelets, necklaces, small pots and a mirror.

  • Sarcophagi dating back 2,500 years have been discovered. Mahmoud Nasr / The National
    Sarcophagi dating back 2,500 years have been discovered. Mahmoud Nasr / The National
  • They were found near Egypt's Saqqara necropolis. Mahmoud Nasr / The National
    They were found near Egypt's Saqqara necropolis. Mahmoud Nasr / The National
  • The finds, including necklaces, were displayed in a televised event on Monday at the Unesco Heritage site south of Cairo. Mahmoud Nasr / The National
    The finds, including necklaces, were displayed in a televised event on Monday at the Unesco Heritage site south of Cairo. Mahmoud Nasr / The National
  • The small statues on display included deities such as Isis, Osiris and Bastet — the "protector" of the area in the form of a cat. Mahmoud Nasr / The National
    The small statues on display included deities such as Isis, Osiris and Bastet — the "protector" of the area in the form of a cat. Mahmoud Nasr / The National
  • The discovery is one of several made at Saqqara, the necropolis of the ancient capital of Memphis, in recent years. Mahmoud Nasr / The National
    The discovery is one of several made at Saqqara, the necropolis of the ancient capital of Memphis, in recent years. Mahmoud Nasr / The National
  • A "rare" papyrus scroll, expected to measure about 9 metres, was also found and could be part of the Book of the Dead. Mahmoud Nasr / The National
    A "rare" papyrus scroll, expected to measure about 9 metres, was also found and could be part of the Book of the Dead. Mahmoud Nasr / The National
  • This is the largest number of coffins and bronze statues to be unearthed by the Egyptian mission at the site near the famous Step Pyramid of Djoser. Mahmoud Nasr / The National
    This is the largest number of coffins and bronze statues to be unearthed by the Egyptian mission at the site near the famous Step Pyramid of Djoser. Mahmoud Nasr / The National
  • An Egyptian archaeological mission has completed its fourth excavation of the site since April 2018 and will conduct a fifth in September after the hot summer months. Mahmoud Nasr / The National
    An Egyptian archaeological mission has completed its fourth excavation of the site since April 2018 and will conduct a fifth in September after the hot summer months. Mahmoud Nasr / The National
  • All of the items will be transported to the Grand Egyptian Museum, which is scheduled to be completed by September. Mahmoud Nasr / The National
    All of the items will be transported to the Grand Egyptian Museum, which is scheduled to be completed by September. Mahmoud Nasr / The National
  • Sarcophagi dating from around 2,500 years ago, at a presentation in Giza, Egypt. Reuters
    Sarcophagi dating from around 2,500 years ago, at a presentation in Giza, Egypt. Reuters
  • The newly discovered burial site is near Egypt's Saqqara necropolis, in Giza governorate. Reuters
    The newly discovered burial site is near Egypt's Saqqara necropolis, in Giza governorate. Reuters
  • The major archaeological find includes 250 sarcophagi, 150 small bronze statues of gods and goddesses and other antiquities. Reuters
    The major archaeological find includes 250 sarcophagi, 150 small bronze statues of gods and goddesses and other antiquities. Reuters
  • Some of the discoveries, including 35 painted wooden sarcophagi, put on display at the Unesco heritage site south of Cairo. Mahmoud Nasr / The National
    Some of the discoveries, including 35 painted wooden sarcophagi, put on display at the Unesco heritage site south of Cairo. Mahmoud Nasr / The National
  • The discovery is one of several made at Saqqara, the necropolis of the ancient capital of Memphis, in recent years. Mahmoud Nasr / The National
    The discovery is one of several made at Saqqara, the necropolis of the ancient capital of Memphis, in recent years. Mahmoud Nasr / The National
  • This was the Egyptian archaeological mission's fourth excavation of the site since 2018. The team will return there in the autumn. Mahmoud Nasr / The National
    This was the Egyptian archaeological mission's fourth excavation of the site since 2018. The team will return there in the autumn. Mahmoud Nasr / The National

All of the items will be transported to the Grand Egyptian Museum, which is scheduled to be completed by September, or the Egyptian Museum in Tahrir, to be studied before deciding on where they will be displayed permanently.

Saqqara has proved a treasure trove for human and animal mummies, sarcophagi, statues and other items from ancient Egypt.

When Egyptian archaeologists began excavation at the site in 2018, they discovered the tomb of a priest that had been untouched for 4,400 years, which then became the subject of the 2020 Netflix documentary Secrets of the Saqqara Tomb.

In the autumn of 2020, the team unveiled 59 sealed sarcophagi of priests and clerks from Egypt's 26th Dynasty, followed by more than 100 ancient coffins in what was the biggest find of the year.

In January last year, the tourism and antiquities ministry announced the discovery of more than 50 wooden sarcophagi and a five-metre papyrus depicting a chapter of the Book of the Dead.

More recently, in March, five well-preserved tombs dating back to the Old Kingdom were unearthed.

Mr Waziri said there were “many surprises to come” and that he hoped the mission would find the grave of Imhotep “who changed architecture” by building what is believed to be the oldest still-standing large-scale stone monument.

Egypt hopes the archaeological discoveries and media attention will help spur tourism, which struggled to rebound in the aftermath of the 2011 uprising and has since been hit by the coronavirus pandemic, as well as the Russia-Ukraine war this year. Russia and Ukraine normally account for a big chunk of the country's tourists.

As part of its PR blitz, last year Egypt hosted a globally watched pharaonic parade of mummies and sarcophagi through central Cairo to transfer 22 mummies – 18 kings and four queens – to the National Museum of Egyptian Civilisation. The mummies included the famous King Ramses II, as well as Queen Hatshepsut.

The Grand Egyptian Museum, whose opening has been delayed several times, is a central element to the new tourism promotion strategy as the country hopes to lure back visitors.

Egypt welcomed just 3.6 million tourists in 2020, less than a quarter of the number who visited in 2019, as the pandemic wiped out $17.6 billion from Egypt’s economy and caused the loss of 844,000 travel and tourism jobs that year. However, numbers have picked up as travel resumed around the world with health protocols.

Five ancient tombs discovered at Egypt's Saqqara necropolis — in pictures

  • Egyptian archaeologists have announced the discovery of five decorated tombs, more than 4,000 years old, near Cairo. Mahmoud Nasr / The National
    Egyptian archaeologists have announced the discovery of five decorated tombs, more than 4,000 years old, near Cairo. Mahmoud Nasr / The National
  • The tombs are in the Saqqara necropolis, about 20 kilometres south-west of the capital. Mahmoud Nasr / The National
    The tombs are in the Saqqara necropolis, about 20 kilometres south-west of the capital. Mahmoud Nasr / The National
  • Mostafa Waziri, one of the country’s top Egyptologists and secretary general of its Supreme Council of Antiquities, conducted a televised tour. Mahmoud Nasr / The National
    Mostafa Waziri, one of the country’s top Egyptologists and secretary general of its Supreme Council of Antiquities, conducted a televised tour. Mahmoud Nasr / The National
  • Decorations inside one of the five tombs discovered near Cairo. Mahmoud Nasr / The National
    Decorations inside one of the five tombs discovered near Cairo. Mahmoud Nasr / The National
  • The walls are markedly well-preserved for their age, archaeologists say. Mahmoud Nasr / The National
    The walls are markedly well-preserved for their age, archaeologists say. Mahmoud Nasr / The National
  • Some of the walls show colourful depictions of the afterlife. Mahmoud Nasr / The National
    Some of the walls show colourful depictions of the afterlife. Mahmoud Nasr / The National
  • Wooden statues found inside the tomb of Pepi Nefhany who was the supervisor of the great house, at the Saqqara area, in Giza. Mahmoud Nasr / The National
    Wooden statues found inside the tomb of Pepi Nefhany who was the supervisor of the great house, at the Saqqara area, in Giza. Mahmoud Nasr / The National
  • Saqqara is one of the most important archaeological areas in Egypt. Mahmoud Nasr / The National
    Saqqara is one of the most important archaeological areas in Egypt. Mahmoud Nasr / The National
  • The unveiling ceremony was open to tourists, many of whom were in attendance during Mr Waziri's demonstration. Mahmoud Nasr / The National
    The unveiling ceremony was open to tourists, many of whom were in attendance during Mr Waziri's demonstration. Mahmoud Nasr / The National
  • An Egyptian archaeological worker is lowered inside tombs at Saqqara. EPA
    An Egyptian archaeological worker is lowered inside tombs at Saqqara. EPA
  • One of the tombs belong to a woman that could be the wife of a man named Yaret. EPA
    One of the tombs belong to a woman that could be the wife of a man named Yaret. EPA
  • Figurines stand inside the tomb of a man named Henu. EPA
    Figurines stand inside the tomb of a man named Henu. EPA
  • Reporters prepare to enter a recently discovered tomb near the famed Step Pyramid, in Saqqara. AP
    Reporters prepare to enter a recently discovered tomb near the famed Step Pyramid, in Saqqara. AP
  • More work and studies will be carried out to reveal the secrets of these tombs, authorities said. Reuters
    More work and studies will be carried out to reveal the secrets of these tombs, authorities said. Reuters
RESULTS
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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

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Updated: June 13, 2023, 11:59 AM