A lot in the pipeline for Ora Developers: Sawiris-owned Ora Developers has acquired 175 feddans in New Cairo and 128 feddans in the North Coast, where it will set up new real estate projects, which it will start selling off next year, Naguib Sawiris said during a presser yesterday.

Even more: The real estate developer also has plans to set up three new hotels – two in the North Coast and one near the Pyramids. The Pyramids hotel is pending the necessary approvals and we should hear more about the partners Ora Developers is working with for the project in the near future, he said, without providing details.

Across the Red Sea: Sawiris is preparing to set up a USD 15 bn mega real estate project in the UAE over the coming 10-15 years.

ALSO FROM SAWIRIS-

Naguib’s lost interest in a digital banking license: Sawiris will not be applying for a digital banking license as central bank regulations were not in line with his investment goals, Al Arabiya reported.

ICYMI: It has long been Naguib’s dream to open a bank in Egypt — though not necessarily a digital one. As far back as 2017, he was quoted saying that, “if the governor of the Central Bank of Egypt gives me a license for a bank, I’ll open it tomorrow.”

Sawiris-backed Akh Gold starts digging in Wadi Dubur:Altus Strategies subsidiary Akh Gold has begun exploring for gold in Wadi Dubur, under the exploration licenses the company secured in 2021, Sawiris said in a post on X (formerly Twitter).

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