Billionaire Naguib Sawiris: Egypt developers pivot to smaller units amid economic strain   

Egyptian billionaire Naguib Sawiris, chair and CEO of ORA Developers, says property developers across the country are reshaping their strategies as inflation, higher construction costs and weaker purchasing power weigh on the market. 

Speaking in a recent television interview, Sawiris said Egypt’s real estate sector is under growing pressure, slowing both buying and selling activity. Developers, he said, are being forced to rethink how they design and price homes to keep projects viable while still meeting demand. 

“The market needs flexibility right now,” Sawiris said. “Developers have to adjust both execution and product offerings to reflect what buyers can realistically afford.”

Smaller homes, broader reach 

Sawiris said one of the clearest shifts is a move toward smaller residential units. Developers are trimming apartment sizes to keep prices within reach for more buyers, particularly middle-income households that have been hit by repeated price increases over the past few years. 

“As one of the major real estate developers in Egypt, we are currently working on reducing unit sizes to make homes affordable for a broad segment of society,” he said. 

According to Sawiris, buyers today are looking for less space than they were two or three years ago. Rising living costs and successive increases in property prices have pushed many households to prioritize practicality over size.

Smaller units, he said, offer a workable balance between cost and quality, allowing buyers to enter the market without taking on excessive financial strain. 

Industry analysts say the trend reflects a deeper adjustment in Egypt’s housing market. With building materials more expensive and inflation squeezing budgets, developers are under pressure to protect sales volumes while ensuring projects remain financially sound. 

Prices rise as costs bite 

Property prices in Egypt have climbed steadily, driven largely by higher input costs and broader inflation. That has shifted demand toward more affordable formats, prompting developers to rethink layouts, amenities and pricing structures. 

Sawiris said maintaining stability in the sector now depends on responding quickly to changes in consumer behavior. “If developers don’t adapt to purchasing power, the market slows further,” he said.

Sawiris’s expanding footprint 

Sawiris, the eldest son of the late Onsi Sawiris, made his fortune through telecommunications and mining. Key transactions in 2010 and subsequent years added billions to his wealth.

In recent years, he has focused on gold mining through La Mancha Resources, which holds stakes in Endeavour Mining and Australia-based Evolution Mining. 

With an estimated net worth of $11.8 billion, he ranks among Bloomberg’s top 500 wealthiest individuals. His company, ORA Developers, manages over $4 billion in assets and oversees a global portfolio exceeding $45 billion across Egypt, Cyprus, Greece, Grenada, Pakistan, the UAE, and Iraq. 

Recent projects include East Cairo’s Club Side Towers and Iraq’s Al-Wardi City eco-development. The company manages over 76 million square meters of land across 17 projects, reflecting Sawiris’s global real estate ambitions.

As Egypt’s real estate sector navigates economic uncertainty, developers are increasingly focusing on smaller, affordable units, signaling a broader market evolution influenced by both cost pressures and changing buyer priorities.