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Misr Italia Properties Achieves 58% Growth in H1

Misr Italia Properties achieves contractual sales worth EGP 4.2 bn in H1 2022, with a 58% growth, compared to H1 2021, Invest-Gate reports.

The company attributes the increase to the continuation of its ongoing sales progress, and it is currently set to achieve a total of EGP 7.5 bn by the end of 2022.
Further, the company achieves skyrocketing sales in IL Bosco City – New Cairo, where the project’s sales exceed EGP 1.5 bn during H1 2022. Meanwhile, delivery of apartments in phase I of IL Bosco – New Capital starts in July.
In this regard, Mohamed Khaled El-Assal, CEO and managing director of Misr Italia Properties, says that sales achieved in H1 2022 exceeded the target, which is the driving force behind the ambitious plans for H2 2022, regarding delivery dates and investments in construction works.
For his part, Mohamed Hany El-Assal, CEO and managing director of Misr Italia Properties, adds, “Misr Italia Properties increases its landbank reaching 7.1 mn sqm as part of the expansion plan across Egypt.”
During H1 2022, the company signs a strategic partnership with Honeywell aiming to provide premium smart solutions, security, and energy-saving solutions across several Misr Italia Properties’ projects. The partnership scope includes providing a command-and-control system in the company’s flagship project, Cairo Business Park in New Cairo, which will positively affect the consumption of electricity, reduce malfunction of equipment and enhance power performance.
Moreover, equipped meeting rooms with the latest time and most cost-efficient technologies significantly facilitate communication between team members existing within the premises.
Misr Italia also contracts ASASS Construction, to be responsible for the construction work of phase I of IL BOSCO City – New Cairo as well as the buildings of phase I, and the villas of phases II & III of IL BOSCO – New Capital. Additionally, the company contracts the Engineering Consulting Bureau (ECB), which is tasked with the management of New Cairo’s IL Bosco City.

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