Ora Developers has launched its new project, Ali El Wardy, the largest residential city in Baghdad, Iraq. The project is part of the Iraqi government's strategy to build new residential cities outside the city centers to ease the urban housing crisis. Iraqi Prime Minister Mohammed S. Al-Sudani witnessed the signing of the contract for the new Ali El Wardy Residential City project. The contract was signed by Bangin Rekani, the Iraqi Minister of Construction, Housing, Municipalities, and Public Works, and Naguib Sawiris, the Global CEO and Chairperson of Ora Developers Group. The project aims to create a smart and eco-friendly residential community that meets human needs and offers a unique experience for the residents. The project offers different types of residential units that cater to various segments of society, from affordable units to luxury units. The project also provides essential services such as education, health care, and social services, as well as entertainment and shopping facilities for the residents and the surrounding areas. The development is located about 25 km southeast of Baghdad and 74 km from Baghdad Airport. It covers a total land area of 61 million square meters. The project will have more than 100,000 residential units along with green spaces and parks over an area of 5 million sqm. The city will be equipped with all the technological features of smart cities and will follow the highest standards of sustainability. Naguib Sawiris, the Global CEO and Chairperson of Ora Developers Group said that Ora Developers Group works to create modern communities with the ideal balance between environmental sustainability and human and social needs. Ora Developers Group's projects span four continents and stand out as a symbol of global excellence in Egypt, Cyprus, Pakistan, Grenada, Greece, and the UAE. The total gross sales are estimated at $14.2bn, supported by a total gross investment of $11bn. As for the Egyptian projects, the phases of the ZED El Sheikh Zayed project in Egypt have been completed. The project includes 4,600 residential units, including offices and clinics, commercial and entertainment areas, and a park. The delivery of the first phase was announced in December 2023. The units of the Pyramid Hills project were also delivered in 2023. The project includes 551 residential units, including apartments, townhouses, and villas, as well as a club with sports and recreational areas. The construction works of the Silversands North Coast project on the Mediterranean Sea have also started. The project includes 4,000 units and a 5-star hotel, as well as an integrated neighborhood that includes all services, with both commercial and recreational aspects. The first phase will be delivered in the summer of 2024. The newly launched Solana projects, in the West and East of Cairo, were also launched on an area of 600 feddans and include 4,000 residential units with modern designs. The execution works have already begun.
