Egypt’s ORA Developers begins Phase 1 construction of $517 million BAYN project in Abu Dhabi

ORA Developers, led by Egyptian billionaire Naguib Sawiris, has commenced main construction works on the first phase of its BAYN master development in Abu Dhabi, marking a major execution milestone for one of its largest mixed-use projects in the Gulf.

The company said Phase 1 of the project, valued at AED1.9 billion ($517.36 million), has been awarded to Dubai-based United Engineering Construction Company (UNEC), with mobilisation already underway and construction officially beginning on June 1, 2026.

Phase 1 covers 614 homes across key clusters

The initial phase includes the construction of 614 residential units comprising townhouses and standalone villas across multiple zones within the development. The project, spanning 4.8 million square metres, includes around 9,000 residential units ranging from villas and mansions to apartments, while also featuring a 1.2-kilometre private beachfront, a man-made lagoon, a 204-berth marina, and a 108,000 square metre sports club.

In April 2026, ORA Developers expanded its landholding in Ghantoot through an additional 4.8 million square metre acquisition from Modon Holding, effectively doubling the development footprint to 9.6 million square metres. Full build-out value is projected at about AED30 billion ($8.17 billion). The scope also covers associated infrastructure and landscape works, with the contract structured over 31 months and key delivery milestones set for each cluster. ORA Developers expects phased handovers to begin from December 2028, according to prior guidance.

The company said enabling works for Cluster B – Y Waterway have already been completed, while Cluster C – Y Lagoon is about 70% complete. Cluster D – Y Lagoon II stands at roughly 20% completion, while Cluster A – The Views remains at around 5% progress.

Expanding contractor and consultancy ecosystem

A multi-layered project team supports the wider BAYN development. NMDC Group is handling enabling works, including ground improvement and earthworks, under an AED300 million ($81.69 million) contract awarded in late 2025.

A broad consortium of consultants is also involved, including Mace as overall project manager, 10 Design as masterplan and architectural concept designer, Dewan Architects + Engineers as lead villas design consultant and architect of record, AECOM for construction supervision, Currie & Brown for cost management, and WSP Global overseeing masterplan, infrastructure, landscape, and waterbody design.

Combined consultancy contracts are valued at about AED150 million ($40.84 million). Including the Phase 1 main construction package, total awarded contracts for the BAYN project have now reached approximately AED2.35 billion ($639.89 million), underscoring the scale of early-stage execution.

Ora Developers: Scaling a 9.6 million sqm coastal masterplan*

Founded in 2016, Ora Developers has swiftly emerged as a global force in real estate, managing over $4 billion in assets and a development portfolio exceeding $45 billion across Egypt, Cyprus, Pakistan, the UAE, and Iraq.

Under the leadership of Naguib Sawiris, ranked among Bloomberg’s top 500 wealthiest individuals with a $5.6 billion net worth, the subsidiary of Orascom Investment Holding, Ora has expanded aggressively, even with the BAYN masterplan first unveiled in April 2025. 

According to the Abu Dhabi Real Estate Centre’s 2025 market report, BAYN generated AED2.7 billion ($735.19 million) in residential sales during 2025, ranking among the top-performing developments in Abu Dhabi and placing ORA Developers among the city’s leading developers by sales performance.