Misr Italia Properties has managed to deliver 200 villas in IL BOSCO project last year, CEO Mohamed Hany El-Assal told Daily News Egypt.
El-Assal said that IL BOSCO was built on an area of about 200 feddan in R7 at the New Administrative Capital (NAC), in proximity to many landmarks, such as the Opera House, the Diplomatic District, the Investment Zone, and the Academic City, with a total investment of EGP 16bn. The project includes a sports club on an area of 16,000 sqm; in which its first phase is scheduled to be completed in 2022.
He added: “We have already started delivering the first phase of IL BOSCO and the units are currently being finished. The construction progress in the project is moving swiftly and it is planned to deliver around 800 units in 2022, in addition to the 200 villas that we managed to deliver in 2021. We look forward to welcoming IL BOSCO residents in conjunction with the opening of NAC during the first half of this year. We are proud of being the first developer from the private sector to deliver in the New Capital; we successfully delivered 200 villas as part of the first phase in 2021, which is one year ahead of contractual delivery time.”
He noted that in 2021, the company launched two new phases in IL BOSCO; “The Park” and “The Cliff”.
The company’s CEO highlighted that the government move to NAC will have a positive impact as it will speed up the move of other entities and create a livable community in line with Egypt Vision 2030 which aims to improve the quality of life of citizens and expand urban areas to cater to Egypt’s rapid population growth. In terms of prices, it is normal for the real estate market to witness price surges driven by many factors. The percentage of increase will vary from one company to another.
He further disclosed that the company’s customers have already received their units and are currently in the process of finishing the interior designs and furnishing.
“We cannot wait to welcome about 40 families to their new homes in IL BOSCO this year,” El-Assal concluded.