Cairo – Misr Italia Properties recorded a 58% year-on-year (YoY) hike in sales during the first half (H1) of 2022 to EGP 4.20 billion.
The financial results came in line with the real estate developer’s target to achieve a total of EGP 7.50 billion by the end of 2022, according to a press release on Monday.
During the first six months (6M) of 2022, the company registered sales crossing EGP 1.50 billion from IL BOSCO projects in New Cairo.
CEO and Managing Director of Misr Italia, Mohamed Khaled El-Assal, said: “Sales achieved in H1-22 exceeded our target, which was the driving force behind our ambitious plans for the H2-22, delivery dates, as well as investments in construction works.”
For his part, CEO and Managing Director of Misr Italia Properties, Mohamed Hany El-Assal, added: “We have managed to increase the company’s landbank reaching 7.10 million [square metres] as part of our expansion plan across Egypt.”
Last April, Misr Italia penned a deal with ASASS Construction for IL BOSCO projects in the New Administrative Capital (NAC) and New Cairo as part of its EGP 2 billion development plan.
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