ORA Developers founder Naguib Sawiris said the company’s hotel arm will introduce its unnamed hospitality brand with a €100 million resort on Mykonos, scheduled to open in May 2027.
The brand’s name has not been disclosed. ORA said it intends to expand selectively, choosing places it believes can support long-term businesses. Its announcement says future properties may bring together art and architecture with music, wellness and local gastronomy.
The resort is planned on elevated ground overlooking Kalo Livadi Bay, with design by Rockwell Group. The announcement lists 60 rooms, 28 suites and five villas, alongside four restaurants and bars, an event venue for up to 200 guests and a 900-square-meter wellness center. ORA’s project page describes a 42,000-square-meter site with six pools and a floating rock bar, and lists a 900-square-meter spa.
The project page counts 88 guestrooms and five freestanding villas, matching the announcement’s breakdown of 60 rooms and 28 suites plus five villas. BusinessDay reported the project’s cost as $112 million, a dollar equivalent for the €100 million budget.
Sawiris said he chose to develop a hospitality concept around his own approach instead of using an international hotel brand. “I brought my own vision of hospitality to life,” he said in the company announcement.
Sawiris told ProtoThema in a Sept. 16 interview that the resort had originally been expected to open in 2026. He said construction took longer than anticipated and cited other challenges, including permitting. He estimated the project would create about 250 direct jobs and 1,000 indirect jobs. Sawiris also said the €100 million budget includes additional costs from the delay.
ORA expects to begin accepting reservations in January 2027.
