Ora Developers enters the Iraqi Market with its latest development “Ali El Wardy”
Ora Developers continues to lead in the world of real estate development with the announcement of its ambitious project, “Ali Al-Wardi” the largest residential city in Baghdad, Iraq, which comes within the framework of the Iraqi government’s plan and strategy to create new residential cities outside city centers to alleviate the urban housing crisis. The Iraqi Prime Minister H.E. Mr. Mohammed S. Al-Sudani attended the signing of the contract for the new Ali Al-Wardi Residential City project and the contract was signed by the Iraqi Minister of Construction, Housing, Municipalities, and Public Works, H.E. Bangin Rekani, and Engineer Naguib Sawiris, Global CEO and Chairman of Ora Developers Group.
The project aims to create a smart and environmentally friendly residential community that effectively integrates human needs and provides a unique experience for residents. The project varies between different residential units that meet the needs of various segments of society, ranging from economic units to luxury units. The project’s vision includes providing basic services such as education, health care, and social services, in addition to entertainment and shopping facilities for residents and the neighboring residents.
The development is strategically positioned approximately 25 km southeast of Baghdad, and 74 km from Baghdad Airport and boasts a total land area of 61 million square meters. The project will avail more than 100,000 residential units along with green areas and parks over a span of 5 million square meters. The city will be specialized in providing all the technological means for smart cities and applying the highest standards of sustainability.
Engineer Naguib Sawiris, Global CEO and Chairman of Ora Developers Group, has expressed his pride in this completion of this partnership saying “We are happy with our partnership with the Iraqi Government that is considered an important turning point in our continuous journey, because we share the same pioneering vision and innovative concept to create integrated residential communities that serve all segments of Iraqi society. Ora Developers Group works to create modern communities with the ideal balance between environmental sustainability and human and societal needs”.
Ora Developers Group’s projects span over four continents and stands out as a symbol of global excellence through Egypt, Cyprus, Pakistan, Grenada, Greece, and the UAE. The total gross sales are estimated at USD 14.2 billion, supported by total gross investment of USD 11 billion.
ORA Hospitality operates in Greece and Grenada and manages two hotels of 4-star and 5-star ratings, which are Yi Hotel Mykonos and Silversands, with future expansion plans to expand its presence in Greece, Egypt, Pakistan, the Middle East, and different parts of Africa to reach 600 hotel rooms by 2028.
It is worth noting that Ora Developers Group highlights the delivery of various parts of its projects during the year 2023, including Ayia Napa Marina East Tower in Cyprus, which includes 220 residential units and is located in a marina that can accommodate 600 boats and yachts, and also includes 23 villas and various commercial and entertainment areas. The first phase was delivered in July 2023. There are several phases of project Eighteen in Pakistan, which includes 3,177 residential units between apartments and villas, in addition to a golf course, commercial and entertainment areas, and a hotel, the first phase of which was delivered in October 2023. The Silversands Beach House project in Grenada, which includes 28 units and restaurants, also opened its doors in December 2023.
As for the Egyptian projects, phases of the ZED El Sheikh Zayed project in Egypt have been completed, which includes 4,600 residential units, including offices and clinics, commercial and entertainment areas, and a park, and the delivery of the first phase was announced in December 2023. Units of Pyramid Hills project were also delivered in 2023, inclusive of 551 residential units, including apartments, townhouses, and villas, and as well as a club, with sports and recreational areas. The construction works of Silversands North Coast project on the Mediterranean Sea has also begun, which includes 4,000 units and a 5-star hotel, in addition to an integrated neighborhood that includes all services, with both commercial and recreational aspects, and the first phase will be delivered in the summer of 2024. The newly launched Solana projects, in the West and East of Cairo, were also launched on an area of 600 acres and include 4,000 residential units with modern designs, and execution works have already begun.