I haven’t count the total investment to be honest, i just wanna take the risk and see what happened, everything will be clear when the domain and the content to get agedYour strategy is clear now, you simply "clone" a similar big content farming website as your big competitor, if the competition is really not high as you said, your website will soon become one of the biggest popular sites in arabic world, seems logical.
Your total investment is also clear now, around $30K if I am right about it.
and yes, its cloning, they already doing the keywords research which i found out they use the keywords as the posts title (so its easy to extract)
some of these website are getting 3m to 5m visits per month but the biggest one is getting 60m visits per month