• The leading developer signed the UNGC “Egypt’s Sustainable Communities” initiative declaration alongside other leading industry players and also signed an MOU with Schneider Electric and an agreement with Future Clean Energy to install state-of-the-art green solutions

Cairo:– In line with COP27 theme ‘Together for Implementation’ Misr Italia Properties (MIP) unveiled a series of unique practices across its diverse developments. MIP prioritizes quality through partnerships that help present comprehensive projects taking its values and sustainability measures into account, towards a greener future.

“COP27 in Sharm El Sheikh focused on constructive implementation and this has been the guiding principle of our strategy; the real estate industry as estimated by the World GBC is responsible for about 40% of global carbon emissions; as an industry, real estate development needs to take proactive steps to reduce its impact on the planet and its resources,” explained Mohamed Hany El Assal, CEO and Managing Director of Misr Italia Properties.

During the first week of COP27, the company signed The United Nations Global Compact Network Egypt (UNGCNE) “Egypt’s Sustainable Communities” Initiative Declaration with the aim of building better lives and the Climate Ambition Accelerator, promising to collaborate and share best practices across the construction and real estate value chain and to ensure the well-being of people and the planet. In that light El Assal added that “we are thrilled to be part of this initiative which aims to coordinate members' efforts to resolve barriers that stand in the way of industry growth and bring forward best practices to achieve sustainability, and reshape the industry in a way that sustains the environment.” Italian urban planner and architect Stefano Boeri and his exclusive presence with Misr Italia Properties demonstrated the latest technologies used within IL BOSCO New Capital’s Vertical Forest project, elaborating on the partnership with MIP and its impact on the environment; through combating pollution by absorbing about 7 tons of carbon dioxide annually and producing 8 tons of oxygen.

In line with the company’s customer-centric “Inspired by You” approach towards sustainability, MIP’s main priority is their client’s quality of life and moving towards a greener climate by introducing innovative, time and cost-efficient methods in urban planning. In that regard, Mohamed Khaled El Assal, CEO and Managing Director of MIP, highlighted that “we believe that in order to get closer to achieving the UN’s Sustainable Development Goals and Egypt’s 2030 vision for sustainable living, we leverage our local and international partners’ expertise to create the best for our clients and to maintain best practices and to secure partnerships that reflect our commitment towards creating sustainability within our projects, MIP signed an MOU with Schneider Electric where the latter is planned to employ their expertise and together develop smart-city concepts using EcoStruxure systems, which enables comprehensive management of all infrastructure including DCIM, security, command and control centers, energy, heating, air conditioning, and water. El Assal further added that “another partnership we are proud of securing is signing an agreement with Future Clean Energy towards implementing solar panels on the roofs of 3 commercial malls with a capacity of 400 kilowatts from solar power plants to produce renewable energy and save user expenses by up to 20%.”

Misr Italia Properties stands among the industry’s most proactive leaders that invest towards having a green development in 2022, and goes in line with Egypt’s Climate Change Strategy 2050 by prioritizing smart technology systems in all its residential, commercial and administrative projects with the aim of adding value to people’s lives and the environment they’re a part of.