Billionaire Naguib Sawiris, the Chairman of Ora Real Estate Development, has announced that he has doubled his investments in the UAE from $15 billion to 30 billion dirhams.
In an interview, he stated, “I believe in the future of the UAE and in the potential of its real estate market.” He added, “I came to the UAE to expand my projects and investments and to initiate more construction endeavors.” He expressed confidence that the current crisis will eventually subside, leaving the UAE stronger and presenting even more opportunities. This timing for announcing the new project is intentional for those looking to truly commit to the UAE and demonstrate their dedication to the nation and our vision for the country’s future.” He also addressed hesitant investors, saying, “For those considering leaving the UAE, don’t worry… leave your investments with me, and I will manage them.”
Furthermore, he questioned why Iran has targeted the UAE with missiles, suggesting that the answer lies in the UAE’s success, which he believes exposes the limitations of the Iranian regime. He highlighted that people from over 200 nationalities live in harmony and enjoy a high standard of living in the UAE, while in Iran, citizens are protesting against their living conditions, leading to severe crackdowns from the government. “The UAE’s success is a mirror reflecting Iran’s downfall,” he emphasized.
He continued by noting that the Iranian aggression towards the UAE revealed surprising insights about betrayal, especially that a neighbor could suddenly launch missiles against you. The UAE has always been a peaceful nation and has never sought to attack any country, serving as a model of peace. He reiterated that while the Iranian attack was personally shocking, the greater surprise was the UAE’s effective defense capabilities, showcasing its readiness to face threats. He commended the UAE’s military for their 98% success rate in intercepting Iranian missiles, ensuring that the aggressor did not meet its objectives. Sawiris expressed gratitude for the UAE, stating that those who harbor animosity towards it will find themselves challenged, and he believes the nation is divinely protected.
According to him, the UAE is a unique country that excels in creating a welcoming environment for investors. He pointed out that it surpasses European countries regarding ease of procedures, visas, licenses, and overall regulatory frameworks, making it more convenient than many European nations.
He reiterated that announcing the new project at this moment serves as a significant message about his confidence in the investment future within the UAE. Regarding the project, he mentioned that the first phase was completely sold out, with 40% of buyers being Emiratis, which demonstrates the trust that the UAE citizens place in his endeavors. The upcoming project is distinct from previous ones, as it will develop the new “Ghantoot” community, focused on building new residential areas with sports clubs, schools, retail stores, and recreational and health facilities in an excellent location by the sea, accessible within 15 minutes from Dubai or Abu Dhabi.
Attracting Investments
Ora Real Estate Development has announced an expansion of its presence in the UAE by acquiring an additional 4.8 million square meters of land from Amlak Properties in the Ghantoot area, raising its total land area in the country to 9.6 million square meters. This initiative is expected to draw total investments of up to 30 billion dirhams once the development is completed.
This move reflects Ora’s long-standing confidence in the UAE market and reaffirms its commitment to developing multifunctional integrated communities that meet global standards.
The project boasts a strategic location between Dubai and Abu Dhabi, directly connected to Sheikh Maktoum Bin Rashid Road, just 25 minutes away from Al Maktoum International Airport, providing seamless connectivity between the two emirates. The strategic partnership between Ora and Amlak is geared towards accelerating real estate development in the Ghantoot region, moving forward with the “Bain” project, which is projected to become a comprehensive urban destination blending modern living with the tranquility of coastal life in a unique living experience.
According to Naguib Sawiris, this step underscores their unwavering commitment to continue investing and expanding in the UAE. He expressed a strong belief in the robust nature of the UAE real estate market and confidence in the country’s long-term vision for sustainable development. Sawiris added, “We are proud to be expanding our footprint in the UAE as part of our ongoing journey to elevate modern living concepts and develop world-class destinations according to the highest standards.”
Bill O’Regan, CEO of Amlak Properties, noted, “We found in Ora a partner who understands the unique value of the Ghantoot area and possesses a clear vision to develop a destination that reflects the site’s uniqueness and enriches the lives of its residents. The Bain project has seen strong demand since its launch last year, and we are confident that this expansion will maintain the upward trend of momentum and success.”
The new land agreement builds upon Ora’s track record of achievements in global markets. The company ranked third among the top 10 real estate developers in Abu Dhabi for 2025, as per a report from the Abu Dhabi Property Center. Additionally, the Bain project garnered residential sales of 2.7 billion dirhams during the same year, positioning it among the top ten projects in the same report.
This strategic move aligns with the UAE’s ongoing commitment to develop infrastructure and drive economic growth.
Ora is set to expand in one of the fastest-growing areas of the country.