Strategic agreement between "Cities" and"Ora" To expand real estate projects in Ghantoot
Abu Dhabi, April 16 / WAM / Modon Holding Company signed a strategic agreement with Ora Real Estate Development Company, in a step that reflects the commitment of both sides to accelerate the process of real estate development in the UAE, through Ora’s acquisition of an additional 4.8 million square meters of land owned by “Modon” in the Ghantoot region.
Under the agreement, ORA will double the area of land it owns in Ghantoot to reach 9.6 million square metres, bringing its total investments in the country to about 30 billion dirhams upon completion of the project’s development.
This investment reflects the company’s firm confidence in the UAE market, and confirms its long-term commitment to developing integrated, multi-use complexes that live up to the highest international standards.
The project is characterized by a strategic location between Dubai and Abu Dhabi, and is directly linked to Sheikh Maktoum bin Rashid Road, as it is only about 25 minutes from Al Maktoum International Airport, which provides smooth connectivity between the two emirates.
The strategic partnership between “ORA” and “Modon” also embodies a joint commitment to move forward with the implementation of the “Bean” project, the main and pioneering project of “ORA”, which is expected to form an integrated urban destination that combines the elements of modern life and the tranquility of the coastal atmosphere, within a unique living experience.
Naguib Sawiris, Chairman of the Board of Directors of Ora Real Estate Development, confirmed on this occasion that this step reflects the company’s firm commitment to continuing investment and expansion in the UAE, indicating its great confidence in the strength of the real estate market and its long-term vision that supports sustainable development paths and keeping pace with future transformations.
He added that “Aura” is moving forward in consolidating its presence in the country by developing international destinations that advance the concept of modern life, pointing out that the new expansion is based on the remarkable success achieved by the “Bean” project as one of the most prominent residential communities on the waterfront, which reflects the company’s direction towards developing integrated communities that combine housing, hospitality, shopping, and distinguished life experiences.
For his part, Bill O’Regan, CEO of Modon Holding Group, explained that the partnership with Ora stems from a shared vision to highlight the unique value of the Ghantoot area, and to develop a qualitative destination that reflects the uniqueness of the location and contributes to enhancing the quality of life for residents, noting that the strong demand that the “Bean” project has witnessed since its launch enhances confidence in continuing the positive momentum and achieving more successes during the next phase.
He explained that the new land agreement is based on Aura Real Estate Development’s track record of achievements in global markets, as the company ranked third on the list of the top 10 real estate development companies in Abu Dhabi for the year 2025 according to the Abu Dhabi Real Estate Center report.
The “Bean” project also achieved residential sales amounting to 2.7 billion dirhams during the same year, ranking among the top ten projects in the same report.
This strategic step is also based on the UAE’s continued commitment to developing infrastructure and driving economic growth.
It is expected that the state’s federal budget for 2026, amounting to 92.4 billion dirhams, in addition to continued investments in vital transport hubs, such as Sheikh Maktoum bin Rashid Road, will contribute to enhancing connectivity levels and supporting the long-term value of the areas extending between Abu Dhabi and Dubai.
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