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Misr Italia plans new launches, deliveries in Q4

Misr Italia plans new launches, deliveries in Q4

ArabFinance: Egypt’s real estate developer Misr Italia Properties plans to launch the 150-unit third phase of EGP 2.4 billion Kai Sokhna during December, CEO Mohamed Hany al Assal told Zawya Projects.

He elaborated that the hospitality development includes 330 villas and chalets, in addition to a 200-key Hilton hotel.

As for the delivery pipeline, the real estate firm is expected to hand the keys of the 150-unit first phase of Kai Sokhna next month, Hany al Assal noted.

Misr Italia earlier said it would deliver Kai Sokhna before the end of this year.

He added that the delivery phase also includes 80 villas of the EGP 16 billion IL Bosco New Capital in the New Administrative Capital, as well as 20 buildings of Cairo Business Park in New Cairo.

“The EGP 2.5 billion business park comprises of a total of 42 buildings and a 133-key Hilton Garden Inn hotel, which will open in 2022,” according to the CEO.

Misr Italia also plans to start the construction of Vinci Street commercial project in New Cairo in 2021, Co-CEO Mohamed Khaled al Assal revealed, noting that delivery is scheduled for 2023.

Khaled al Assal said “the company would invest EGP 3 billion in its ongoing projects in 2021,” the news portal reported.

Misr Italia launched the first small executive office project in Cairo Business Park last June.

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