Naguib Sawiris Strengthens UAE Commitment with $30 Billion Investment in Ghantoot Expansion
Billionaire Naguib Sawiris, Chairman of Ora Developers, has announced a significant increase in his investments in the UAE, doubling his commitment from $15 billion to $30 billion. This move underscores his confidence in the nation’s future and the robustness of its real estate sector. The announcement was made during a recent event in Dubai, where Sawiris emphasized the importance of ongoing investment in the region.
Sawiris stated his belief in the UAE’s potential, particularly within the real estate market. He expressed a commitment to expanding projects and investments, aiming to enhance construction initiatives across the country. He noted that despite current challenges, the UAE is poised to emerge stronger, presenting new opportunities for growth.
In addressing concerns from investors contemplating leaving the UAE, Sawiris reassured them of his commitment to completing ongoing projects, encouraging them to maintain their investments. He highlighted the UAE’s unique position as a stable and prosperous nation, contrasting it with regional tensions, particularly regarding Iran. Sawiris remarked on the peaceful coexistence of over 200 nationalities in the UAE, attributing the country’s success to its stability and prosperity.
Regional Context and Security
Sawiris also discussed the recent regional developments, particularly the missile threats directed at the UAE. He expressed surprise at the aggression from a neighboring country, emphasizing the UAE’s commitment to peace and its capability to respond effectively to threats. He praised the UAE Armed Forces for their preparedness and crisis management, noting that the country’s advanced defense technology achieved a 98% interception efficiency during recent attacks.
This experience, according to Sawiris, reinforces the UAE’s strength and readiness to protect its interests, making it a secure environment for investors. He remarked on the UAE’s superior efficiency in facilitating investment processes compared to many European nations, highlighting the streamlined procedures for visas, licensing, and other regulatory requirements.
New Developments in Ghantoot
As part of this expansion, Ora Developers has acquired an additional 4.8 million square meters of land from Modon Holdings in the Ghantoot area. This acquisition increases the company’s total land holdings in the UAE to 9.6 million square meters, with projected investments reaching AED 30 billion upon completion. The new project aims to create integrated communities that encompass sports clubs, schools, retail outlets, and healthcare facilities, all within a beachfront development accessible from both Dubai and Abu Dhabi.
Sawiris confirmed that the first phase of the project has already sold out, with 40% of the sales attributed to UAE nationals, reflecting the trust Emiratis have in his developments. He emphasized that this new project differs from previous ones, focusing on creating a fully integrated urban destination that combines modern living with a coastal lifestyle.
Strategic Location and Future Plans
The Ghantoot project is strategically positioned between Dubai and Abu Dhabi, directly connected to Sheikh Maktoum bin Rashid Road and located approximately 25 minutes from Al Maktoum International Airport. This prime location enhances connectivity between the two emirates, further boosting the appeal of the development.
The partnership between Ora Developers and Modon Holdings is expected to facilitate the continued development of Ghantoot through the flagship “Ben” project. Sawiris reiterated his unwavering commitment to investing in the UAE, expressing confidence in the country’s long-term vision for sustainable development and the strength of its real estate market.
Bill O’Regan, CEO of Modon Holdings, acknowledged the partnership with Ora, stating that they share a vision for developing a destination that enriches residents’ lives. He noted the positive reception of the Ben project since its launch and expressed optimism that this expansion will maintain its momentum.
The new land agreement is a testament to Ora Developers’ successful track record in global markets. The company ranked third among Abu Dhabi’s top 10 real estate developers in 2025, according to the Abu Dhabi Real Estate Centre, with its Between project achieving AED 2.7 billion in residential sales during the same year.
This strategic expansion aligns with the UAE’s ongoing commitment to infrastructure development and economic growth, as Ora Developers continues to solidify its presence in one of the country’s most rapidly growing regions.
Source: www.emirates247.com
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Published on 2026-04-16 17:47:00 • By the Editorial Desk
