Almost all of the ORA Residence apartment blocks, which form part of the db Group’s St George’s Bay project, have been snapped up and are subject to promise of sale agreements.

The project was launched to the market in September 2024, with prices starting from at least half a million euro for a one-bedroom apartment.

In its latest financial analysis summary, SD Finance – the db Group’s finance arm – said that almost all the 179 residences in both towers are now subject to a promise of sale agreement.

It is forecasting that these residential sales alone will net them €109.85 million in the 2027 financial year, which is almost as much as the €111.34 million in total revenue generated by the Group during FY2026.

This represents a 12.23 per cent increase in total revenue from the €99.20 million generated in the 2025 financial year.

It attributed this increase to organic growth in its Seabank and San Antonio hotels, the 12-month contribution from Xemxija Bay Hotel, and further strong expansion of the F&B segment, including the inauguration of Aki London.

The Group is forecasting revenue to surge to €236.95 million in FY2027, primarily driven by the recognition of the sale of the ORA residential units and supported by its current operations, with the addition of the Hard Rock Hotel.

This is a downward revision fro its previous projection of €377.96 million, attributable to delays in the St George’s Bay project.

Excluding revenue from the sale of ORA Residences, normalised revenue for FY2027 is forecast to increase by 14.16 per cent to €127.10 million, compared with €111.34 million in FY2026.