Staff Report
Dubai, UAE
Ora Developers Group, an international developer, is strengthening its portfolio with strategic expansions in the UAE and Iraq. The expansions entail Bayn, a coastal community located between Abu Dhabi and Dubai, and Madinat Al Ward, a large-scale residential city at Al Nahrawan district in Baghdad, Iraq. Together, these two landmark developments represent a combined investment exceeding US$16 billion (in the first phase).
Located in Ghantoot, a key area linking Abu Dhabi and Dubai, Bayn spans 4.8 million square metres and features an extensive seven kilometres of waterfront, highlighting the project’s unique value proposition within the UAE’s evolving landscape.
Over 55 percent of the community is dedicated to open spaces, waterways, and recreational amenities, including a marina, lagoon, and a 1.2-kilometre beachfront. A 100,000-square metre sports club and holistic amenities set new benchmarks for healthy, active living.
“With Bayn, our aim is to develop a destination that anticipates the future needs of a thriving coastal community within a strategically important location,” said Eng. Naguib Sawiris, Chairman and CEO of Ora Developers. “Ghantoot presents a unique opportunity to create a distinctive coastal community that not only offers an exceptional lifestyle but also contributes to the broader development and appeal of the region. We anticipate this project will attract residents and stimulate economic and social growth”, he further added.
Named after the famed Iraqi scholar Ali Al-Wardi, Madinat Al Ward in Baghdad will be developed over a 24-year period, covering 62 million square metres and delivering 120,000 homes. The first phase is projected to be completed over eight years, with an approximate investment cost US$10 billion. Among its most notable features is a five million-square metre public park.
“Madinat Al Ward is a testament to the power of visionary public-private partnerships,” said Ibrahim Karam, CEO of Ora Iraq. “This project goes beyond providing housing as it lays the foundation for a new urban center one that prioritises quality of life and sustainable growth. We believe this development will serve as a model for future urban expansion in Iraq and the wider region.”
Founded in 2016, the group holds over US$2.57 billion in assets and manages a real estate portfolio worth more than US$45 billion in sales across Egypt, Grenada, Greece, Cyprus, Pakistan, the UAE, and Iraq.
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Also read: Ora announces 4.8 million sqm coastal community Bayn in Ghantoot
