ElRaay Developments has announced the launch of River Park Obour City. The project comes with investments exceeding EGP 3 billion. Moreover, ElRaay Developments is developing River Park Obour City through a strategic partnership with Al-Muwani Kuwaitiyah.
Strategic Partnership
Eng. Mohamed El-Taweel, Chairman of Al-Muwani Kuwaitiyah, said that the company owns the project’s land.
He noted that the company has a strong portfolio of land plots. These plots are located in New Cairo (Fifth Settlement), El Shorouk, Obour, and 6th of October City.
Furthermore, he said that this alliance combines regional expertise with strong local execution capabilities.
He also highlighted Al-Muwani Kuwaitiyah’s experience in Kuwait. The company developed high-rise waterfront towers.
In addition, the company successfully managed a retail chain. The chain includes more than five hypermarket branches across Kuwait and Jordan.
Moreover, the company completed previous real estate developments in Egypt. These developments include the “Sunrise” compound.
Project Progress
For his part, Eng. Mina Gameel, Chairman of ElRaay Developments and the project developer, highlighted the company’s progress.
He said that the project has already secured its ministerial decree. In addition, it obtained excavation permits.
Moreover, the company has already settled 80% of the land value. He added that the company plans to deliver the first phase within two years.
Eng. Mina Gameel also highlighted ElRaay Developments’ achievements in Obour City. The company completed projects in the Golf district and Districts 6 and 9.
Furthermore, the company constructed more than 40 buildings in Gesr El Suez. In addition, ElRaay Developments delivered high-end projects in the Narges, Lotus, and Jasmine districts of New Cairo.
River Park Location
“River Park” extends over 11 acres. Moreover, the project enjoys a strategic location on “Line 10” in the “Golden Square” area of Obour City.
Eng. Mina Gameel explained that the company carefully selected the site. The project overlooks the 8th District villas and the Orabi Association. Therefore, the project enjoys a strong competitive advantage.
International Standards
Eng. Ashraf Raef, Board Member of Al-Muwani Kuwaitiyah, announced a partnership with “Signature”. Accordingly, “Signature” serves as the sales and marketing consultancy.
Furthermore, the company appointed “MRB” to manage and operate River Park. MRB is a leading company in real estate facility management. Therefore, the partnership supports long-term operational quality.
Modern Residential Concept
Eng. Ashraf Raef stated that the project introduces a modern residential concept. The project includes a lagoon.
In addition, it offers children’s recreation areas. Moreover, it provides electric vehicle charging stations.
The project also features comprehensive fitness facilities. Furthermore, River Park includes a commercial hub.
The hub contains medical, retail, and administrative units. Therefore, the project serves both residents and visitors.
Marketing and Sales Strategy
Ibrahim Samy, Co-founder and Partner at “Signature”, explained the company’s role. He said that Signature serves as the lead consultant.
Moreover, the company conducts market research. In addition, Signature defines sales targets to maximize value for clients.
The company also manages promotional campaigns. These campaigns follow the latest industry standards.
Investment Opportunities
Ibrahim Samy said that River Park offers promising returns on investment. According to market estimates, early-stage investors could achieve returns of up to 20%.
Therefore, the project represents an attractive investment destination. It also targets investors seeking stability and asset growth.
Expansion Plans
This project aligns with ElRaay Developments’ expansion strategy. Moreover, the company is preparing new developments in Obour City’s Districts 6 and 9.
In addition, ElRaay Developments plans further expansion in El Shorouk. Therefore, the company continues to support urban development in Egypt’s new cities.
