Egypt's Naguib Sawiris is Building a EUR 100 Million Resort in Mykonos

Egyptian businessman Naguib Sawiris is investing in Greece's luxury tourism sector with a EUR 100 million five-star resort on the island of Mykonos. The project is being implemented by Ora Developers and is scheduled to open in May 2027, after more than six years of planning shaped by the island's complex zoning procedures.

The resort spans 42 acres and will include 93 rooms, several standalone private villas, six swimming pools, a large spa, and high-end dining and leisure facilities. It will operate under a new international hospitality brand, joining a Mykonos market that continues to draw major international investors and visitors from Europe, the Middle East and the United States.

Sawiris, whose holdings span telecommunications, real estate and tourism across the Mediterranean, has been expanding his presence in Greece in recent years. The development is expected to add to the island's ultra-luxury accommodation and create new high-end jobs in the local economy.