In a strategic move to bolster urban expansion in Obour City, ElRaay Developments has announced the launch of its latest integrated residential project, “River Park.” The project, which involves investments exceeding EGP 3 billion, is being developed through a strategic partnership with Al-Muwani Kuwaitiyah.
Eng. Mohamed El-Taweel, Chairman of Al-Muwani Kuwaitiyah, stated that the company owns the project’s land, noting its robust portfolio of prime land plots across key Egyptian regions, including New Cairo (Fifth Settlement), El Shorouk, Obour, and 6th of October City. This alliance, he added, merges deep regional expertise with strong local execution capabilities.
He further highlighted Al-Muwani Kuwaitiyah’s extensive track record in Kuwait, including the development of high-rise waterfront towers and the successful management of a retail chain with over five hypermarket branches across Kuwait and Jordan, alongside previous real estate ventures in Egypt, such as the “Sunrise” compound.
For his part, Eng. Mina Gameel, Chairman of ElRaay Developments and the project’s developer, emphasized the company’s steady progress. “The project has already secured its ministerial decree and excavation permits, with 80% of the land value fully settled. We plan to deliver the first phase within two years,” he noted. Eng. Mina Gameel pointed out ElRaay’s solid history of achievements in Obour City’s Golf district and Districts 6 and 9, as well as the construction of over 40 buildings in Gesr El Suez and high-end projects in the Narges, Lotus, and Jasmine districts of New Cairo.
Spanning 11 acres, “River Park” occupies a unique strategic location on “Line 10” in the “Golden Square” area of Obour City. Eng. Mina Gameel highlighted that the site was carefully selected for its direct view of the 8th District villas and the Orabi Association, granting it a significant competitive advantage.
To ensure global standards of excellence, Eng. Ashraf Raef, Board Member of Al-Muwani Kuwaitiyah , announced that the company has partnered with “Signature” as the sales and marketing consultancy. Furthermore, to guarantee long-term operational quality, “MRB”—a leader in real estate facility management—has been commissioned to manage and operate River Park.
Eng. Ashraf Raef added that the project introduces a modern residential concept featuring a lagoon, children’s recreation areas, electric vehicle (EV) charging stations, and comprehensive fitness facilities. The project also incorporates a commercial hub housing medical, retail, and administrative units to cater to both residents and visitors.
Ibrahim Samy, Co-founder and Partner at “Signature,” explained that the firm is serving as the lead consultant, responsible for market research, defining sales targets to ensure maximum value for clients, and managing promotional campaigns according to the latest industry standards.
He noted that the return on investment (ROI) for “River Park” is highly promising, with market estimates suggesting that early-stage investors could see returns of up to 20%, positioning the project as an ideal investment destination for those seeking stability and asset growth.
This project aligns with ElRaay’s broader expansion vision, as the company prepares to unveil future plans for new developments in Obour City’s 6th and 9th districts, as well as further expansion in El Shorouk, reaffirming its commitment to driving urban development in Egypt’s new cities.
