Egypt’s Ora invests $2bln in foreign markets

Naguib Sawiris’ Gemini Global Development, which has been relaunched and rebranded as Ora Developers, has investments of $ 2 billion in foreign markets, according to its Group Chief Operating Officer, Amr Samra.

He added that the company has investments in various international markets such as London, Cyprus, Pakistan and Grenada.

Haitham Mohamed, its CEO,  added on the other hand that the company has started the establishment of its urban project in New Cairo with total investments of 100 million Egyptian pounds on total area of 400 feddans.

He further noted that the company will launch the first phase of the project in the second quarter with targeted sales of 6 billion pounds.

Mohamed pointed out that the company has marketed 1500 units in its flagship ZED, while planning to promote five new phases during 2020.