New acquisition doubles ORA's land in Ghantoot to 9.6 million sqm.
Investment is a vote of confidence in the market, reinforcing long-term commitment
DUBAI, UAE, April 16, 2026 /PRNewswire/ -- ORA Developers is expanding its UAE presence through the acquisition of an additional 4.8 million sqm of land from Modon Holding in Ghantoot, increasing its UAE land bank to 9.6 million sqm. This steps is expected to drive a total project investment of AED 30 billion upon full development.
This reiterates ORA Developers' long-term confidence in the UAE market and its continued commitment to delivering integrated, world-class, mixed-use communities.
Strategically located between Dubai and Abu Dhabi, with direct access to Sheikh Maktoum Bin Rashid Road, the site offers seamless connectivity across both emirates. It is also located approximately 25 minutes from Al Maktoum International Airport, further enhancing its accessibility.
The strengthened partnership between ORA and Modon will accelerate development in Ghantoot, where BAYN, ORA's flagship masterplan is emerging as a fully integrated destination. Conceived as "a community without compromise," the project brings together city energy and coastal serenity.
Naguib Sawiris, Chairman of ORA Developers, commented: "This move further reinforces our commitment to the UAE and our intention to continue our efforts in the country. It demonstrates our trust in the resilience of the UAE real estate market, as well as our belief in the nation's long-term vision for sustainable growth.
The growth of ORA's footprint in the UAE marks an important milestone in our continued vision to elevate refined living and create world-class destinations. This next step, reinforced by the success of BAYN, our flagship waterfront development, reflects our long-term aspiration to shape vibrant communities that seamlessly blend lifestyle, hospitality, retail, and residential offerings."
"Bill O'Regan, Group CEO of Modon Holding, added: "With ORA, we have identified a partner that understands the unique value of Ghantoot and is committed to shaping a destination that is true to its location and enriches the lives of its residents. BAYN has already attracted strong demand since its launch last year, and we are confident that the expansion will continue that success."
The agreement for this new site builds on ORA's compelling market credentials. ORA Developers has been ranked third among Abu Dhabi's Top 10 Developers in 2025 by the ADREC Abu Dhabi Real Estate Market Report, with BAYN recording AED 2.7 billion in residential sales in 2025 and ranking among the Top 10 projects in the report.
This strategic investment is underpinned by the UAE's sustained focus on infrastructure and economic progress. The record AED 92.4 billion 2026 UAE Federal Budget, alongside continuous investment in key transport corridors such as Sheikh Maktoum bin Rashid Road, is expected to enhance connectivity and long-term value along the Dubai-Abu Dhabi passage. These fundamentals underscore the resilience of the economy, its real estate market, and the strategic timing of ORA's expansion in this high-growth area.
About ORA Developers:
ORA Developers Group is a global real estate leader, known for creating transformative spaces that enhance daily living. Founded in 2016, ORA now holds around $4 billion in consolidated assets and has achieved a proven sales value exceeding $61 billion across Egypt, Greece, Cyprus, Grenada, and Pakistan. Its projects, including Ayia Napa Marina in Cyprus, Eighteen in Pakistan, and 6 strategically located projects in Egypt, exemplify ORA's commitment to integrated communities that blend harmoniously with local culture and landscapes.
ORA's portfolio spans residential, hospitality, and entertainment, focusing on multifunctional spaces designed to enrich and bring balance to residents' lives. Guided by Excellence, Balance, and Happiness, ORA's developments set new standards for sustainable, community-centered design. The acclaimed Silversands North Coast project, for example, captures the Mediterranean's essence, showcasing ORA's expertise in creating vibrant, place-sensitive environments.
With its entry into the UAE, ORA brings a fresh approach aligned with the region's vision for sustainable urban growth, introducing new standards for thoughtful, community-focused living.
About Modon:
Modon is an international holding company, headquartered in Abu Dhabi, United Arab Emirates, and listed on the Abu Dhabi Securities Exchange (ADX). Modon is at the forefront of urban innovation, creating iconic designs and experiences that continually surpass expectations. From real estate to hospitality, asset and investment management, events, catering and tourism, we are bringing cities to life through delivering long-term and sustainable value.
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