Watch Paparazzi

Entrepreneur Islam Ghoneim spotted wearing Patek Philippe

Islam Ghoneim, chief executive officer and vice chairman of Ghoneim Development Group, was recently photographed aboard a private aircraft wearing a Patek Philippe Nautilus Chronograph Ref. 5980R in 18k rose gold. The sighting captures one of contemporary watchmaking's most sought-after chronographs on the wrist of an Egyptian businessman and developer.

The Patek Philippe Nautilus Chronograph Ref. 5980R represents a significant evolution of the integrated sports-watch category Gérald Genta established in 1976. Introduced in 2006, the 5980R measures 40.5mm in diameter and 12.5mm thick, with an 18k rose gold case featuring the signature porthole bezel characteristic of the Nautilus line. The dial presents a black-brown sunburst finish with applied rose gold hour markers and luminous coating. The movement is the Calibre CHR 27-525 PS, an automatic column-wheel chronograph equipped with 35 jewels and a 55-hour power reserve—exceptional endurance for a split-seconds mechanism. The caseback remains transparent, displaying the movement's architectural sophistication. Water resistance reaches 120 metres, adequate for daily wear despite the chronograph's complexity.

Among Nautilus chronograph variants, the Ref. 5980R occupies a unique position within Patek Philippe's steel and precious-metal portfolio. The rose gold iteration delivers warmer tonality than the stainless steel Ref. 5980/1A-001, while commanding significantly higher production scarcity and market desirability. The 40.5mm case size, introduced with the 5980 line, bridges the classical 39mm Nautilus sports watch and larger contemporary sports chronographs, establishing the model as transitional in Patek Philippe's sizing philosophy during the mid-2000s.

Ghoneim's choice of the 5980R reflects established taste among high-net-worth entrepreneurs and business leaders across the Middle East and North Africa region. The rose gold variant pairs technical horological achievement with material prestige—a pairing that appeals to executives balancing professional gravitas with collector credibility. The dark brown alligator strap, standard on rose gold 5980R examples, reinforces understated elegance appropriate for boardroom and formal settings alike.

The Patek Philippe Nautilus Chronograph Ref. 5980R trades in the current grey market between $120,000 and $160,000 USD, reflecting its production rarity and enduring demand among collectors. Retail pricing through authorized Patek Philippe dealers remains unavailable to new customers; acquisition typically requires established client relationships with boutiques. The reference remains subject to extended waitlists, though secondary market availability persists for rose gold examples at sustained premiums above original retail value.