Naguib Sawiris Eyes Mykonos with €100 Million Luxury Resort

Announced June 11, 2026, Egyptian billionaire Naguib Sawiris is developing a new five-star resort in Mykonos, Greece, with a projected opening in May 2027. This over €100 million project aims to capture the top tier of the international luxury travel market, according to Business Insider Africa.

The expansive 42-acre property will feature 93 accommodations, including multiple private villas, and an impressive six swimming pools. Guests can also anticipate a substantial spa and other high-end amenities. Business Insider Africa notes that the development process alone spanned over six years, largely due to zoning complexities.

The Mykonos resort will launch under a new international hospitality brand from Ora Developers, Sawiris' real estate arm. This move signals a strategic push into the competitive Greek luxury segment.

Our take: Mykonos, already a beacon for luxury travelers, is now attracting significant investment from global players like Sawiris. Such developments intensify competition while simultaneously elevating the island's overall luxury profile, setting a new benchmark for exclusivity and service.