Table of Contents
ORA Developers, led by Egyptian billionaire Naguib Sawiris, is expanding its footprint in the Middle East with two large-scale projects in the United Arab Emirates and Iraq.
The company unveiled Bayn, a coastal community in Ghantoot between Abu Dhabi and Dubai, and Madinat Al Ward, a major residential city on the outskirts of Baghdad.
The combined investment for the first phase of both projects exceeds $16 billion, underscoring ORA’s ambition to create sustainable, design-focused communities in strategically important locations.
Bayn spans 4.8 million square meters with more than half the land set aside for open spaces, waterways, and recreation. It will feature a 1.2-kilometer beachfront, a marina, a lagoon, and a 100,000-square-meter sports club.
“Our aim is to create a destination that anticipates the future needs of a thriving coastal community,” Sawiris said in a statement. “Ghantoot offers a unique opportunity to establish a distinctive lifestyle hub that strengthens the wider region’s appeal.”
Baghdad’s Madinat Al Ward
In Iraq, Madinat Al Ward will cover 62 million square meters and deliver 120,000 homes over 24 years, with an initial phase valued at $10 billion. The project will include a five-million-square-meter public park and be designed as a self-sufficient urban center.
“This development will serve as a model for future urban expansion in Iraq and the wider region,” said Ibrahim Karam, CEO of ORA Iraq.
Both projects will have modern digital infrastructure, eco-friendly technologies, and large green spaces, in line with ORA's focus on active lives and building in a way that is good for the environment.
Sawiris’ global development push
Founded in 2016, ORA Developers has built a global presence, managing over $4 billion in assets and overseeing a development portfolio worth more than $45 billion across Egypt, Cyprus, Pakistan, the UAE, and Iraq. The company now controls more than 76 million square meters of land across 17 projects in seven countries.
Sawiris, who is listed among Bloomberg’s top 500 wealthiest people with an estimated net worth of $9.51 billion, has also invested heavily in Egypt’s tourism and real estate sector. In May, ORA broke ground on Iraq’s Al-Wardi City eco-development near Baghdad. The billionaire also joined the Egyptian government in a $47 million effort to upgrade the Pyramids of Giza, and in June, ORA launched Club Side Towers, East Cairo’s first residential tower.
