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Egyptian developer to build Iraq’s largest housing project

From left: Ora Developers Group chairman Naguib Sawiris, Iraqi Prime Minister Mohammed S Al-Sudani and Iraqi housing minister Bangin Rekani at the contract award ceremony Ora Developer Group
From left: Ora Developers Group chairman Naguib Sawiris, Iraqi Prime Minister Mohammed S Al-Sudani and Iraqi housing minister Bangin Rekani at the contract award ceremony

Egypt’s Ora Developers Group will build the largest residential city in Iraq’s capital, Baghdad, which will feature 100,000 residential units.

The contract was awarded by the Iraqi government. No details of the project cost were given.

Ali Al-Wardi, a smart city project located 25 km southeast of Baghdad, will be built on an area of 61 million sq metres. 

The project will have green areas and parks, covering five million sq metres and incorporating the highest sustainability standards.

“Ora Developers works to create modern communities with the ideal balance between environmental sustainability and human and societal needs,” chairman Naguib Sawiris said in a statement.

The group’s projects are spread across Egypt, Cyprus, Pakistan, Grenada, Greece, and the UAE. Its total gross sales are estimated at $14.2 billion, supported by a total gross investment of $11 billion.

The group’s hospitality unit plans to expand to Greece, Egypt, Pakistan, the Middle East and different parts of Africa to reach 600 hotel rooms by 2028.

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