Egyptian real estate company Ora Developers, chaired and led by billionaire Naguib Sawiris, has officially launched its flagship UAE project — a coastal development named Bayn — with an estimated development cost of USD 10 billion. The announcement was made at a launch event yesterday.

The Bayn development spans 4.8 million sqm along a 1.2 km stretch of coastline between Dubai and Abu Dhabi. Located about 35 minutes from Downtown Dubai and 45 minutes from central Abu Dhabi, the low-density, master-planned community will feature townhouses, villas, a marina, business park, sports club, and various lifestyle amenities.

Due to strong buyer demand, Ora is accelerating the timeline for the second phase of the project, which was originally planned for after the summer.

Ora recently established its UAE headquarters in Dubai and intends to triple its workforce by the end of 2025. In addition to Bayn, the company is also collaborating with the U.S.-based Discovery Land Company to develop a luxury family community featuring a private 18-hole golf course.

For now, the focus remains on delivering Bayn, particularly in the Ghantoot area. Sawiris noted that no additional projects will be launched in the UAE until at least 30% of Bayn is completed, as the firm aims to establish a strong reputation in the local market.

Sawiris emphasized that the UAE’s stable economic climate and supportive leadership have facilitated a smooth entry into the market — a contrast to challenges in Egypt, where rising inflation has impacted Ora's margins. Looking ahead, the company is planning a UAE stock market listing in three to four years.