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Cairo: Misr Italia Properties (MIP), Egypt’s leading real estate developer, has announced its record EGP 2.5 billion sales in the first half (H1) of 2021. The company is targeting to achieve total sales of EGP 4 billion throughout the year despite the novel coronavirus outbreak as part of its strategy.
The robust sales during the first half of 2021 reflect the outstanding performance and the appeal of the company’s projects to the clients. Moreover, it demonstrates the resilience and stability of Egypt’s real estate sector and its capacity to overcome challenges related to the Covid-19 pandemic ramifications. Misr Italia Properties has also finalized new deals with major contractors worth more than EGP 500 million to speed up the construction process in its projects.
With an outstanding portfolio of various projects and operations in Egypt and a significant business strategy aimed at long-term success, Misr Italia Properties aims to secure contractual sales of EGP 4bn in 2021, through its unique projects including Cairo Business Park, Il Bosco, Vinci and Il Bosco City.
“Achieving these remarkable sales during the first half of 2021 is a major accomplishment for the company that confirms our clear strategy, supported by a solid economy, which is a genuine rebound following the end of the peak of the COVID-19 pandemic,” Mohamed Hany El-Assal, CEO and Managing Director of Misr Italia Properties said. “Misr Italia Properties was keen to achieve the ultimate goal of gaining customer confidence by adhering to the scheduled timeline for implementing the projects,” he asserted.
With unrivaled high-quality standards, Misr Italia Properties recently launched new phases in some of its top projects such as the launching of Cairo Business Park’s new phase “Allure 2.0”, sprawling over an area of 18 acres and providing business units ranging from 60 to 290 sqm, with a competitive installment plan that can be extended up to six years. Furthermore, it unveiled two new phases, of their mixed-use and integrated community IL BOSCO City in New Cairo, under the name of “La Natura” and “la Valle”, with various residential unit types ranging between stand-alone villas, twin houses, townhouses and appartments. The two phases offer 220 units ranging from 218 to 282 sqm, with attractive installment plans and only a 5% down payment.
In addition, Misr Italia properties launched two new phases in its flagship project, IL BOSCO, in the New Administrative Capital namely, “The Park” and “The Cliff”, which are scheduled to be delivered by 2024. Spanning over 207 acres, the two phases offer a wide range of residential unit types, with innovative features including keyless solutions for home access, QR codes for guests, intelligent lighting systems, and triple-play technology.
Lastly, MIP launched two new phases of its artistic project “Vinci” at the heart of the New Capital, spanning over 110 acres with a wide range of residential unit types ranging from standalone villas, twin houses, and townhouses with spaces varying from 256 to 693 sqm.
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© Press Release 2021
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