Egypt’s Misr Italia Properties will launch next year the commercial component of its 16 billion Egyptian pounds ($1.1 billion) IL Bosco New Capital residential project, located in the New Administrative Capital, the company CEO said. 

"The commercial portion of IL Bosco, spread over an area of 70,000 square metres, will be launched by the first quarter of 2022,” Mohamed Hany El-Assal, told Zawya Projects. 

He didn’t elaborate on the investment or construction timelines but said the company had successfully sold 95 percent of the residential units of IL Bosco New Capital Phase 1. 

He added that the 2 billion pounds ($127 million) first phase included 200 villas and 500 apartments. 

(1 US Dollar = 15.70 Egyptian Pounds) 

(Reporting by Marwa Abo Almajd; Editing by Anoop Menon) 

(anoop.menon@refinitiv.com) 

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