Gate News message, April 17 — Ora Developers, founded by Egyptian billionaire Naguib Sawiris, has doubled the size of its Bayn master plan in the UAE by acquiring an additional 4.8 million square meters of land from Abu Dhabi-listed Modon Holding. The developer’s total land bank in the Ghantoot area, located between Dubai and Abu Dhabi, now stands at 9.6 million square meters.
Following the expansion, total project investment is estimated to reach AED 30 billion ($8.2 billion) upon full development. Bayn recorded sales of AED 2.7 billion ($735 million) in 2025. The project will feature a 1.2-kilometer beachfront and accommodate 9,000 housing units for approximately 32,000 residents.
The expansion comes as the UAE real estate market adjusts to broader regional dynamics. Real estate transactions in Dubai declined 32 percent between February and March following the onset of the Iran war on February 28. Abu Dhabi’s property market has demonstrated greater resilience, with non-residents accounting for 11 percent of sales compared to around 70 percent in Dubai.
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