The Founders of Nile Stone: Four Developers, One Vision for Modern Living Rooted in History

Nile Stone Urban Development was not started by a single developer. Four real estate leaders from four established Egyptian development companies pooled their experience into one new name. Their goal was not simply to sell apartments. They wanted to build a modern way of living in West Cairo that still feels rooted in Egypt’s long history.

Four founders, four companies, one board

The Nile Stone board brings together the leaders of four developers that already had their own projects, teams and buyers in 6th of October and West Cairo:

• Hany Elnoiry, Founder and CEO of Elnoiry Developments. He brings a focus on innovation, sustainability and community-focused urban living.
• Omar Abo Algoud, Founder and CEO of Afaq Alarab Developments. He leads the Nile Stone project with a focus on quality, innovation and modern living in 6th of October City. In September 2025, Invest-Gate quoted him, as CEO of Nile Stone, explaining that the company chose its architect because of a shared vision of “combining modern design with local character”.
• Ahmed Gabr, Founder and CEO of GHA Real Estate. At the official launch of Samaya Residence in December 2025, he spoke as Chairman of the Board. Property Plus reported his words: “We don’t make units, we make a lifestyle.”
• Samy Othman, Founder and CEO of Asas Developments. He makes sure every Nile Stone project is built on strong design, financial viability and smart market positioning.

According to the company, the board has more than 30 years of combined experience across residential, commercial and administrative real estate. The partner companies have sold more than 1,000 apartments to more than 2,000 clients. You can read the full board profiles on our About Us page.

Why an alliance instead of another company?

Egypt’s housing market has many new developers, and buyers know the risk. A first-time developer has no track record, and a delay can freeze a family’s savings for years. The founders answered this risk with a simple idea: combine the land, money and delivery experience of four companies under one brand.

This gives Nile Stone three strengths from day one:

• Experience on the ground. Each partner already builds and sells in West Cairo, so the team knows the area, the contractors and the buyers.
• Financial strength. Larger projects need more capital than one mid-sized developer can usually commit. Property Plus reported that Samaya Residence alone carries an investment of more than EGP 2 billion.
• Shared decisions. Four boards, four sets of buyers and four reputations are on the line. That is a strong incentive to deliver on time and to the promised quality.

The name: a lifestyle connected to history

The brand line says it clearly: “Timeless like the Nile, solid as stone.”

The Nile stands for continuity. It is the river that made Egyptian civilization possible and still shapes how Egyptians live today. The Stone stands for permanence. Egypt’s builders worked in stone because they wanted their work to last, and the Giza Pyramids, a short drive from West Cairo, still stand about 4,500 years later.

The founders wanted a brand that carries both ideas. A Nile Stone home should feel modern, with smart layouts, green space and services at the door. It should also be built to last and to grow in value, the way the best Egyptian buildings always have.

From vision to the first project: Samaya Residence

The first project to carry the Nile Stone name is Samaya Residence in October Gardens (Hadayek October), in West Cairo. It shows the founders’ vision in practice:

• Only 20% of the land is built. The other 80% is green space, landscaping and water features.
• Just 16 buildings across the whole compound, so density stays low and views stay open.
• Units from studios to 4 bedrooms (52 to 213 m²), plus ground-floor units with private gardens.
• A master plan supervised by the well-known Egyptian architect Eng. Raef Fahmy. Read more in our article on Raef Fahmy and the design of Samaya.

On 30 September 2026, the Ministry of Housing issued Ministerial Decree No. 1491, which approves the planning and subdivision of the Samaya land. That decree is an important step in the project’s legal path. We explain it in our article on Ministerial Decree 1491, and the official page is here.

Why West Cairo, and why now

The founders picked October Gardens for a reason. The state has made this city one of its main growth areas in the west of Greater Cairo:

• Hadayek October is planned on about 41,000 feddans, according to New Urban Communities Authority officials quoted by Amwal Al Ghad.
• The city targets about 2.5 million residents, according to Parlmany (Al-Youm Al-Sabea group).
• Hadayek October Station will be a central interchange between Egypt’s high-speed rail Line 1 (Ain Sokhna to Alamein and Matrouh) and Line 2 (October to Aswan), according to Egypt Today.

Infrastructure like this changes how a city lives. The founders want Nile Stone residents to benefit from that growth early, in a community built with care.

What comes next

Samaya Residence is the first step. Nile Stone is also preparing SOHOL Residence, which is coming soon. Each new project will follow the same principles: more green space, smarter homes, financial discipline and a design that respects where it stands.

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Want to talk to our team? Contact us or call 01033339017.

Read next: Samaya Residence October Gardens: the complete guide to location, master plan, units and amenities.

Sources

• Invest-Gate: Nilestone Developments assigns architectural design of Samaya to Raef Fahmi Architects (2 Sep 2025)
• Property Plus: Launch of Samaya Residence (Dec 2025)
• Amwal Al Ghad: Egypt hopes 20 new cities to accommodate 30 million people
• Egypt Today: Egypt puts 1st high-speed electric rail line on track for trial run