Egypt's Misr Italia Properties is planning to deliver 3,000 units in lL Bosco New Capital, located in the New Administrative Capital, this year, the company's CEO and Managing director said.

Mohamed Khaled Al Assal told Zawya Projects that they delivered 1,500 apartments in the project in 2023.

He added that they are planning to launch the Vertical Forest project in lL Bosco New Capital, which comprises of three buildings with one building housing serviced apartments. The project’s commercial zone, spread over an area of 67,000 square metres (sqm) will be launched in the coming months.

The company's co-CEO and Managing director Mohammad Hani Al Assal, said that they have invested 5.5 billion Egyptian pounds ($179 million) in the project to date.

He added that they have signed with Telecom Egypt (WE) to provide communications, surveillance and artificial intelligence services for the project.

Read more: Misr Italia to invest $181mln in Mideasts first vertical forest

(1 US Dollar = 30.80 Egyptian Pounds)

(Reporting by Eman Hamed; Editing by Anoop Menon) 


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