Egyptian developer Misr Italia Properties has planned a robust launch and delivery project pipeline from the fourth quarter of 2020 onwards, the company's top executives told Zawya Projects.

CEO Mohamed Hany Al-Assal said the December 2020 launch line-up includes the 150-unit third phase of the 2.4 billion pounds ($154 million) Kai Sokhna hospitality project in Ain Sokhna. The 330-unit villa and chalet development also include a 200-key Hilton hotel.

He said the delivery pipeline for December includes the 150-unit first phase of Kai Sokhna, 80 villas of the 16-billion-pound ($1.02 billion) IL Bosco New Capital in the New Administrative Capital and 20 buildings of Cairo Business Park in New Cairo.

The 2.5 billion pounds ($160 million) business park comprises of a total of 42 buildings and a 133-key Hilton Garden Inn hotel, which will open in 2022.

Co-CEO Mohamed Khaled Al-Assal said the company would start the start construction of Vinci Street commercial project in New Cairo in 2021 with delivery scheduled for 2023.

Khaled Al-Assal said the company would invest 3 billion pounds ($192 million) in its ongoing projects in 2021.

(1 US Dollar = 15.60 Egyptian Pounds)

(Reporting by Eman Hamed; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)

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