Q Holding and Ora Real Estate Development Group will create an intelligent city in Abu Dhabi


The two developers have collaborated to build a brand new smart city project in Abu Dhabi. Abu Dhabi investment company Q Holding, together with the Egyptian Ora Real Estate Development Group, announced the creation of a new project with an area of ​​over 215 million sq. ft in the Ghantoot area. The project will present various types of services, including residential, hotel, sports, commercial, cultural and entertainment.

Representatives of the companies said that alternative energy sources will be used in the new smart city. The cost of the project has not yet been made public.

According to Abdullah Al Hamed, the Chairman of Q Holding, this project is seen as a new opportunity to increase the company’s investment in real estate in the UAE. This collaboration with Ora Real Estate Development Group will boost the local economy and boost real estate investor interest in the capital.

The forward thinking actions of the government, together with other steps in supporting the economy, has led the Emirates real estate market to recover from the pandemic at a much faster rate than other countries around the world.

With investment in coastal and island communities, Abu Dhabi saw annual property growth of over 20% during a 10 month period.

The launch of many new projects have been announced in coastal areas, including Reem Island, Jubail Island and Saadiyat Island.

In the period of three months to September 2022, there were 4,441 real estate transactions worth AED 20.9B (USD 5.7B). Q Holding has a wide portfolio of investments in real estate, hospitality and services. In June 2022, the company acquired a 100% stake in Reem Investments for AED 5.8B (USD 1.6B).

Ora Real Estate Development Group has invested more than AED 44B (USD 12B) in real estate, hospitality, culture and entertainment in Egypt, Cyprus, Greece, Pakistan and the Caribbean.

As a result of the collaboration between these two companies, the Ghantoot area plans to create a smart city with a sustainable structure using alternative energy resources and a high technological development.

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