KUALA LUMPUR, Sept 9 (Bernama) — ORA Developers Group is advancing two large-scale projects in the United Arab Emirates (UAE) and Iraq, with a combined first-phase investment exceeding US$16 billion. (US$1=RM4.20)
The projects are Bayn, a coastal community located in Ghantoot between Abu Dhabi and Dubai, and Madinat Al Ward, a residential city in Baghdad’s Al Nahrawan district. Both developments reflect the group’s strategy of creating communities defined by design, sustainability and cultural relevance.
According to ORA in a statement, Bayn spans 4.8 million square metres with seven kilometres (km) of waterfront. More than half of the area is dedicated to open spaces, waterways and recreational amenities, including a marina, lagoon, sports club and a 1.2-km beachfront.
The group Chairman and Chief Executive Officer, Naguib Sawiris said Bayn aims to anticipate the needs of a modern coastal community while preserving Ghantoot’s natural coastline.
In Iraq, Madinat Al Ward is being developed over 62 million square metres and will ultimately provide around 120,000 homes. Named in honour of Iraqi scholar Ali Al-Wardi, the project is planned over 24 years, with Phase 1 alone estimated at US$10 billion and expected to take eight years to complete.
The development will feature a five million square metre public park, which ORA says underscores its commitment to sustainable, liveable urban environments.
Both projects are being designed with advanced digital infrastructure and sustainable technologies. ORA said they will promote environmental preservation, community well-being and healthy lifestyles.
Founded in 2016, ORA Developers remains committed to delivering communities that combine long-term value with global standards of quality and design.
— BERNAMA
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