Raya for Urban Development has announced the launch of its latest integrated residential project, Elite Gardens, in the heart of October Gardens City, Invest-Gate reports.

This development is part of its vision to create modern urban communities that meet customer expectations and align with trends in the Egyptian real estate market.

Eng. Osama Gad, Chairman of Raya for Urban Development, explained that the Elite Gardens project embodies the company’s philosophy of developing upscale communities characterized by a high quality of life. The project boasts a unique strategic location that combines vitality and tranquility, along with distinctive architectural designs and integrated service facilities, enhancing investment opportunities and providing an ideal residential environment.

He added that the project covers a total area of 13,000 sqm, with the first phase spanning 8,000 sqm. It is scheduled to be officially launched within two months, with a timeline for marketing the units set for a maximum of six months. The company aims to achieve sales exceeding EGP 270 mn during this phase.

Gad pointed out that the project’s marketing plan relies on a phased rollout in line with market developments, serving as an effective hedging tool against any economic fluctuations during the implementation and marketing periods.

As part of its commitment to delivering a fully integrated project, Raya announced collaborations with a select group of successful partners. A contract has been signed with NIS Schools, and a branch of the National Bank of Egypt will be established within the project. Additionally, sports activities will be hosted under the supervision of renowned media personality and athlete Captain Seif Zaher.

Regarding engineering supervision, the company revealed that it has contracted Moharram Bakhoum, one of the most prestigious consulting firms in Egypt and the Arab world, to serve as the project’s general consultant, reflecting Raya’s commitment to the highest quality standards in design and implementation.

The project will also be implemented in-house by Raya for Urban Development, enabling the company to control costs and quality, ensuring project completion on schedule and at competitive prices. New City Developments has also been contracted to manage implementation, enhancing the project’s investment value and embedding quality and luxury standards in every detail.

Gad confirmed that the company is committed to delivering the units within a period not exceeding 30 months. He noted that delivery will be semi-finished and offered at reasonable prices to suit market changes. A flexible payment plan of up to seven years without interest has been introduced, with actual construction work set to begin next August.