Egyptian billionaire Naguib Sawiris has projected a strong rebound in the UAE property market, expressing confidence that current geopolitical tensions linked to Iran will not derail long-term growth. He shared this outlook while unveiling a massive Dh30 billion ($8.17 billion) expansion of a “mini city” project strategically located between Abu Dhabi and Dubai.
Sawiris emphasized that the current slowdown reflects only a temporary pause rather than a structural decline. He noted that once tensions fade from global headlines, investor confidence will return quickly and push the market back into a growth cycle. As a result, buyers are already being encouraged to take advantage of price adjustments and discounts in the market.
Through Ora Developers, Sawiris is leading the development of the Bayn project in Ghantoot. The ambitious mixed-use development will include 16,000 residential units alongside business districts, healthcare facilities, educational institutions, retail hubs, offices, hotels, and entertainment spaces. Furthermore, the company recently expanded the project footprint to 9.6 million square metres after acquiring additional land from Modon Properties.
Construction momentum has already begun to translate into strong financial performance. The first phase of the project generated Dh2.7 billion in sales in 2025. Looking ahead, Ora Developers expects sales to approach $1 billion in 2026, signaling sustained investor appetite. At the same time, Sawiris highlighted the long-term vision of creating a fully integrated urban destination where residents can live between two major economic centers while working in either city.
Meanwhile, the broader UAE real estate sector continues to show resilience despite geopolitical headwinds. Although some segments have experienced short-term corrections, the market has maintained steady activity. Government-backed reforms, including long-term residency options and the expansion of the golden visa program, have continued to attract global investors and high-net-worth individuals.
In addition, population growth and rising demand for luxury properties have driven both property values and rental prices upward. Data from the Dubai Land Department reveals that real estate transactions in Dubai surged to Dh252 billion in the first quarter of 2026. This marks a 31 percent increase compared to the same period last year, supported by over 60,000 transactions. Such figures reinforce Dubai’s position as a safe and attractive destination for international property investment.
However, recent reports indicate that property prices experienced a slight correction in March, marking the first decline since the pandemic era. Villa prices dropped modestly, while apartment values also recorded a dip. Nevertheless, analysts view this adjustment as a natural market correction rather than a sign of weakening fundamentals.
Beyond market data, Sawiris also addressed regional tensions involving Iran. He expressed concern over recent attacks targeting Gulf countries, including the UAE, but maintained that the situation will likely stabilize. He predicted that the closure of the Strait of Hormuz will be short-lived, as prolonged disruption would not be sustainable for global markets.
Despite these uncertainties, the UAE continues to stand out for its stability, security, and inclusive policies. According to Sawiris, these factors will remain key drivers attracting residents, investors, and businesses from around the world. Consequently, the country’s real estate sector is expected to regain momentum and continue its upward trajectory.
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