Naguib Sawiris doubles UAE investments to $30 billion, citing confidence in real estate market

Sabri Saqr, Emirates 24/7 Dubai: Billionaire Naguib Sawiris, Chairman of Ora Developers, has confirmed that he has doubled his investments in the UAE from US$15 billion to US$30 billion, reaffirming his confidence in the country’s future and the strength of its real estate market. "I believe in the future of the UAE, and I believe in the future of the real estate market in the UAE,” Sawiris said. “I came to the UAE to expand projects and investments and add more construction projects.” Commenting on current circumstances, Sawiris said the crisis would eventually pass and that the UAE would emerge stronger, with more opportunities ahead. “That is why I chose this time to announce the project—an opportunity for those who truly want to belong to the UAE and demonstrate their commitment to the country, and to prove our vision and belief in the future of the UAE,” he said. Addressing hesitant investors, he added: “Those who are thinking of leaving the UAE, don’t worry… leave your investments to me, and I will complete the project.” Sawiris also spoke about regional developments, saying he questioned why Iran had directed missiles towards the UAE. He stated that the Emirati model highlights stark contrasts, noting that people of more than 200 nationalities live in peace and enjoy stability and prosperity in the UAE. He added that dissatisfaction with living conditions in Iran had led to unrest, saying: “I say to the whole world: the success of the UAE reveals the fall of Iran.” He continued that the Iranian aggression against the UAE was an experience that carried several surprises, particularly the sense of betrayal from a neighbouring country. He described the UAE as a peaceful nation that has never considered attacking others, and said the most striking aspect was the country’s ability to respond effectively. Sawiris praised the UAE Armed Forces for their defensive preparedness and crisis management, describing the response as remarkable. He said this demonstrated that the UAE is safe for investors and capable of confronting aggression, adding that even the volume of missiles did not affect the effectiveness of the country’s advanced defence technology. He stated that interception efficiency reached 98 per cent and that the attack failed to achieve its objective. He added that this experience confirmed the UAE’s strength and preparedness, expressing confidence that the country would remain protected. Sawiris also described the UAE as a unique country that excels in removing obstacles for investors and in its approach to welcoming and supporting them. He said the UAE has surpassed European countries in facilitating procedures, including visas, licensing, legislation and airport processes, which he noted are simpler and more efficient than in many European states. He said that announcing the new project at this time sends a clear message of confidence in the future of investment in the UAE. Regarding the project’s first phase, Sawiris confirmed it had sold out completely, with 40 per cent of sales to UAE nationals, which he said reflects the trust Emiratis place in his developments. He explained that the new project differs from previous developments, as Ora Developers will be building the new Ghantoot community, focusing on integrated communities that include sports clubs, schools, retail outlets, and recreational and healthcare facilities. The beachfront development will be accessible within 15 minutes of both Dubai and Abu Dhabi. Attracting investment Ora Developers announced the expansion of its presence in the UAE through the acquisition of an additional 4.8 million square metres of land from Modon Holdings in the Ghantoot area. This brings the company’s total land holdings in the UAE to 9.6 million square metres, with total project investments expected to reach AED 30 billion upon completion. The move reflects Ora Developers’ long-standing confidence in the UAE market and its continued commitment to delivering integrated, mixed-use communities that meet international standards. The project is strategically located between Dubai and Abu Dhabi, directly connected to Sheikh Maktoum bin Rashid Road, and approximately 25 minutes from Al Maktoum International Airport, providing strong connectivity between the two emirates. The partnership between Ora and Modon supports the continued development of Ghantoot through the implementation of the “Ben” project, Ora’s flagship development, which is expected to create a fully integrated urban destination combining modern living with a coastal lifestyle. Sawiris said: “This move reflects our unwavering commitment to continued investment and expansion in the UAE. We have absolute confidence in the strength of the UAE real estate market and firm belief in the country’s long-term vision for sustainable development.” He added: “We are proud to expand our presence in the UAE as part of our ongoing journey to elevate modern living and develop world-class destinations. This ste