ORA Hospitality’s Mykonos Resort: Everything Announced Ahead of Its 2027 Opening

Naguib Sawiris is skipping the global hotel flags and launching his own ultra-luxury brand on the quieter side of Mykonos. Here is what has been confirmed, what has only been announced, and what is still unknown.

ORA Hospitality, the hotel arm of Naguib Sawiris’s ORA Developers, is building an ultra-luxury resort on the hillside above Kalo Livadi Bay, on the southeast coast of Mykonos. The resort is scheduled to open in May 2027, with reservations expected to open in January 2027. The investment is around €100 million, and the programme comprises 93 keys: 60 rooms, 28 suites and five villas. It will be the first property of a new hospitality and lifestyle brand whose name ORA has not yet revealed.

Key facts at a glance

Project	ORA Hospitality’s forthcoming resort on Mykonos
Developer	ORA Developers, founded and chaired by Naguib Sawiris
Hotel arm	ORA Hospitality (CEO: Vincenzo Falcone)
Location	Hillside above Kalo Livadi Bay, Mykonos, Greece
Plot	42,000 m², according to ORA
Keys	93: 60 rooms, 28 suites, 5 villas
Investment	Approximately €100 million, as announced
Design	Rockwell Group
Art programme	ArtSpark Consultants
Reservations	Expected from January 2027
Opening	Planned for May 2027
Brand name	Not yet announced

One project, several names

Anyone searching for this resort will find it under more than one name, so it is worth clearing up.

Silversands Mykonos has been linked to the project in ORA’s own corporate communications since at least 2023. The name is borrowed from Silversands, the label ORA already uses for its award-winning properties in Grenada, Silversands Grand Anse and Silversands Beach House.

CLYO Mykonos surfaced in 2025, in a professional directory and in an article on upcoming hotel openings. We have found no official confirmation that it is the final name.

The announcement ORA Hospitality issued in October 2026 settles only part of the question: it presents the Mykonos resort as the flagship of a new ultra-luxury brand whose name is still to be revealed. Until that happens, ORA Hospitality Mykonos is the most accurate way to refer to it. These are not three hotels; it is one project that has carried different working names during its development.

Location and concept

The resort will sit on a 42,000 m² plot on an elevated hillside overlooking Kalo Livadi Bay, one of the few largely undeveloped stretches of prime coastline left on the island. Some Greek coverage places it in neighbouring Kalafatis; the developer’s own description refers to Kalo Livadi.

The published concept is closer to a small village than a conventional hotel block: low-rise buildings stepping down the slope, Aegean views and a fluid relationship between indoor and outdoor spaces.

The positioning is deliberate. Sawiris has framed the project as a way to show a calmer side of Mykonos, built around privacy, space and tranquillity, and aimed at affluent families and multigenerational groups rather than the island’s nightlife crowd.

Rooms, suites and villas

The announced capacity is 93 keys, split into 60 rooms, 28 suites and five villas. ORA’s own website summarises the same programme as 88 rooms and suites plus five villas, so both figures describe the same inventory. According to coverage of the October announcement, every unit will have its own outdoor space and a view of the sea.

Room categories, sizes and rates have not been published. Nor has ORA said which units, if any, will have private pools.

Dining, wellness and events

The resort will include:

• Four restaurants and bars, plus a Floating Rock Bar listed on ORA’s project page.
• A 900 m² wellness centre focused on skincare, recovery, movement and wellbeing.
• Event space for up to 200 guests.
• Pools: ORA’s website refers to six pools, though it has not yet detailed how they are distributed across the resort.

Restaurant names, chefs, culinary concepts and spa partners are still to be announced.

Who does what: developer, operator, designer and art

Four players are involved, and their roles are distinct.

1. ORA Developers is the developer. Founded by Sawiris in 2016, it runs residential, mixed-use and hospitality projects in Egypt, Cyprus, Greece, Pakistan, Grenada and beyond.
2. ORA Hospitality is the group’s in-house hotel company and will run the resort. Since April 2026 it has been led by Vincenzo Falcone, who joined after seven years at Bulgari Hotels & Resorts, where he was general manager of Bulgari Hotel Milano and then Bulgari Hotel Roma.
3. Rockwell Group, the New York studio founded by David Rockwell, is credited with the design of the resort. The available information does not specify how architecture, interiors and landscaping are divided, so we attribute the design to Rockwell Group without going further. The studio already knows the island: it worked with designer Domna Ioannidis on the renovation of Belvedere Mykonos between 2006 and 2010.
4. ArtSpark Consultants has announced its role in developing a site-specific art collection for the resort, built around a contemporary reading of Mykonos’s character.

Naguib Sawiris and the case for an in-house brand

The Egyptian businessman, who built his fortune in telecoms before founding ORA, is personally overseeing the design and concept. In an interview with the Greek newspaper Proto Thema, he explained his preference for creating ORA’s own hotel brand rather than handing the property to a major international operator. He has also described a decades-long family connection with the island and a wish to create a resort that, in his words, “leaves a positive mark on the island”. According to Sawiris, the project should generate around 250 direct jobs and some 1,000 indirect ones.

Why it matters. Most luxury resorts of this size open under an established flag that brings distribution, a loyalty programme and instant recognition. ORA is doing the opposite: launching an unnamed brand whose first Aegean property has to build the brand rather than borrow it. The success of that bet will depend largely on what happens between the name reveal and the opening of reservations in January 2027, the window in which an unknown brand has to become a desirable one. For Mykonos, the project also tests whether the island’s ultra-luxury market can be pulled towards families and slower stays rather than beach clubs.

Timeline and delays

• 2023: Silversands Mykonos appears in ORA’s corporate communications.
• 2025: The CLYO Mykonos name appears in some publications, alongside a 2026 opening date. ArtSpark announces its collaboration, then under the Silversands Mykonos name.
• April 2026: Vincenzo Falcone is appointed CEO of ORA Hospitality.
• September 2026: Sawiris confirms a May 2027 target in his Proto Thema interview.
• October 2026: ORA Hospitality announces the new brand, with the name still to be revealed.
• January 2027: Reservations are expected to open.
• May 2027: Planned opening.

Sawiris attributed the move from 2026 to 2027 to the difficulties of building on an island, permits, bureaucracy and the standard of finish he expects. By his account, the roughly €100 million figure already includes the extra costs of the delay. These explanations come from the developer and are not an independent assessment of the works.

What we still don’t know

• The brand’s final name.
• Room categories, sizes and rates.
• Restaurant concepts, names and chefs.
• Spa treatments and partner brands.
• The current state of construction. Most published images are renders of the future resort and do not show how far the works have progressed.

We will update this article as ORA Hospitality confirms these details.

Frequently asked questions

When will ORA Hospitality’s Mykonos resort open?

The opening is planned for May 2027, according to ORA Hospitality’s October 2026 announcement. It is a target date, not a confirmed opening.

Where exactly is the resort?

On a hillside above Kalo Livadi Bay, on the southeast coast of Mykonos, on a 42,000 m² plot, according to ORA Developers.

How many rooms will it have?

93 keys in total: 60 rooms, 28 suites and five villas.

Who is behind the project?

ORA Developers and its hotel arm, ORA Hospitality, led by founder and chairman Naguib Sawiris. ORA Hospitality’s CEO is Vincenzo Falcone.

Will it be called Silversands Mykonos or CLYO Mykonos?

Both names have been linked to the project. ORA’s October 2026 announcement presents it as the first property of a new brand whose name has not yet been revealed.

Who designed the resort?

The design is credited to New York-based Rockwell Group. ArtSpark Consultants is developing the resort’s art programme.

Can I book a stay yet?

Not yet. Reservations are expected to open in January 2027.

How much is ORA investing?

Approximately €100 million, according to Naguib Sawiris.