Otis Worldwide Corporation, global leader in the manufacture, installation and servicing of elevators and escalators, has been selected by Sobha Realty, a leading luxury real estate developer, for the supply and installation of 303 elevators in five of its major projects in Dubai. 

 

In line with the agreement, Otis will deliver 123 Gen2 elevators for Sobha Reservé; 43 Gen2 elevators for Sobha Hartland II; 33 SkyRise, 24 Arise, 52 Gen2 Home and six Gen2 elevators for Sobha One; 13 SkyRise elevators for Verde by Sobha and six SkyRise, one Arise and two Gen2 elevators for Sobha Waves Opulence, said Otis in a statement. 

 

Otis will complete the installation of all elevators later this year, it stated.

 

Francis Alfred, Managing Director of Sobha Realty, said: "We always prioritise safety and quality in every aspect of project development, in line with this we are delighted to partner with Otis to supply and install elevators for our major projects."

 

"Their long-standing track-record of innovation, reliability and safety aligns with our goals and standards. Through this partnership, our developments will continue to provide safe, smooth and efficient vertical mobility for all our residents," he stated.

 

Mohammed Al Qaisi, Middle East Leader said: "Otis has been serving customers in the UAE for over 50 years. We have previously supplied elevators for Sobha Hartland I and the Crest Sobha Hartland and most recently shared the news that Otis will be equipping Sobha Creek Vista Heights with 22 Skyrise units."

 

"We are honoured to be selected again to help achieve the exciting vision for these additional premium developments and look forward to working closely with Sobha Realty to provide safe, innovative, and high-quality vertical mobility solutions as they continue to redefine the UAE’s architectural legacy," he added.-TradeArabia News Service

ORA Developers, a major real estate group, has established its UAE headquarters at One Central. This strategic move reinforces its regional expansion while directly supporting the UAE’s vision for sustainable, future-ready urban environments.

 

Founded by Engineer Naguib Sawiris, ORA Developers boasts a global portfolio spanning residential, hospitality, commercial, and entertainment. 

 

With an extensive land bank of over 76 million sqm, it has a global portfolio spanning 17 projects across seven countries, with an estimated total sales value of over $45 billion, said the group in a statement.

 

Since entering the UAE in 2023, ORA Developers has rapidly scaled its presence acquiring prime land, obtaining regulatory approvals, and laying the groundwork for transformative developments, it stated. 

 

The company built its UAE team from the ground up-growing to nearly 94 employees, with plans to at least triple by the end of 2025. 

 

By combining local market expertise with a seasoned leadership team, ORA Developers has established a robust foundation for operational continuity and sustained growth, it added.

 

Industry forecasts indicate that the UAE’s real estate market is on a robust growth trajectory, with a projected increase in total market value from $704.25 billion in 2024 to $1.08 trillion by 2030.

 

Sawiris, emphasising the significance of the new headquarters, said: "In a fast-evolving real estate landscape, establishing our regional headquarters is a crucial step that aligns with the UAE’s long-term vision for urban development."

 

"This hub not only strengthens our ability to deliver innovative, future-ready communities but also allows us to integrate global best practices with the UAE’s dynamic market needs. By prioritizing nature, connectivity, and design, we are committed to shaping sustainable, well-balanced developments," he noted. 

 

"Our leadership team’s extensive experience and long-standing commitment to ORA Developers have been instrumental in building our diverse portfolio, driving growth, and ensuring the successful execution of transformative projects," he added.

 

Driving the UAE expansion a leadership team with expertise through development, sales, branding, marketing and finance. Khaled Morgan, Chief Development Officer, ensures delivering unique and innovative urban experiences, while Ahmed Samir, Chief Human Resources Officer, drives talent acquisition in the UAE to support rapid scaling. 

 

Expanding on this foundation, Tamer Fikry, Chief Sales Officer, enhances investor engagement, Mohamed

Sheta, Chief Financial Officer, leads financial strategy, and Lana Sawiris, Chief Brand Officer, alongside Rasha Georgy, Chief Marketing Officer, shapes global positioning, said the statement. 

 

Amr Abdelmoneim, Chief Technical Officer, oversees engineering and execution, maintaining top industry standards.

 

ORA Developers said it will soon unveil details of its key investment in the UAE, a 4.8 million sqm master-planned community in Ghantoot. The project, strategically positioned between Abu Dhabi and Dubai, features 1.2km of pristine Arabian Gulf beachfront. 

 

Plans are also afoot to establish customer experience centres in both Abu Dhabi and Dubai to provide a dedicated touchpoint for clients and stakeholders, said the statement.

 

ORA Developers is also a strategic investor in Discovery Dunes, a project by Discovery Land Company. The ultra-luxury community is designed around a championship golf course by Tom Fazio. This project further validates ORA’s strategic investment decisions in the sector and the UAE market, it added.

Al Nakhla Investment Company has announced the completion of the Al Sharq Village, one of the premier luxury residential compounds in the Saudi capital Riyadh.

 

Strategically located in the Qurtuba district, the project features a total of 450 residential units, combining elegance and comfort with meticulous attention to detail in design and infrastructure. 

 

It offers upscale living options for those seeking a high-quality lifestyle. With its integrated living environment and world-class specifications, it presents an ideal destination for families looking for a modern and tranquil way of life.

 

The project, which was completed after two and a half years of construction, is distinguished by its wide green landscapes, enhancing quality of life and offering a peaceful and relaxing environment. 

 

It boasts a comprehensive range of facilities that cater to all residents' needs, including sports, recreational, healthcare as well as educational facilities.

 

 

The project spans over 167,000 sq m, offering a comprehensive residential destination that combines comfort, aesthetic appeal and construction quality, it stated.

 

"Al Sharq Village project continues Al Nakhla Investment Company’s success in real estate development. We have previously developed nearly 3,000 premium residential units, in addition to commercial, office, and hospitality projects," said a company spokesman. 

 

The compound includes a fine-dining restaurant, Costa Coffee, Al Tamimi Supermarket, and various retail outlets offering a wide range of services to meet residents’ needs, he stated.

 

Located in Qurtuba, one of Riyadh’s fast-growing modern districts, the project benefits from proximity to the Riyadh Metro network, allowing easy access to all parts of the capital within minutes. 

 

Its prime location provides convenient access to key business and leisure destinations, including Sabic, King Abdullah Financial District, Riyadh Front, Business Gate, and the Fairmont Hotel, said Al Nakhla Investment in a statement.

 

The development is also just 15 minutes from King Khalid International Airport, making it an ideal choice for business professionals and frequent travellers, it added.-TradeArabia News Service