Misr Italia Properties records EGP 4.2bn in gross contracted sales in 1H 2022

Daily News Egypt
2 Min Read

Misr Italia Properties achieved contractual sales that amounted to EGP 4.2bn in the first half (1H) of 2022 — a 58% increase compared to 1H 2021.

These results came as a continuation to the company’s ongoing sales progress, which is currently set to achieve a total of EGP 7.5bn by the end of 2022.

The IL Bosco City – New Cairo Project’s sales exceeded EGP 1.5bn, meanwhile, the delivery of apartments in the first phase of IL Bosco – New Administrative Capital (NAC) started in July.

The first half of 2022 also witnessed the company focusing on establishing strong partnerships that are set to influence the quality of its projects and provide state-of-the-art products. This step included signing a strategic partnership with Honeywell to provide premium smart solutions, security, and energy-saving solutions across several of Misr Italia’s projects.

The partnership scope includes providing a command-and-control system in the company’s flagship project in New Cairo, Cairo Business Park, which will positively affect the consumption of electricity, reducing malfunction of equipment, and enhancing power performance.

Moreover, it includes equipping meeting rooms with the latest time and cost-efficient technologies that significantly facilitate communication between team members existing within the premise.

Misr Italia also contracted ASASS Construction to oversee the construction work on phase one of IL BOSCO City – New Cairo, as well as phases one, two and, three of IL BOSCO – NAC; along with contracting the Engineering Consulting Bureau (ECB), who are tasked with management of New Cairo’s IL Bosco City.

“Sales achieved in the first half of this year exceeded our target, which was the driving force behind our ambitious plans for the second half of the year,” said Mohamed Khaled Al-Assal — Co-CEO of Misr Italia Properties.

Meanwhile, Mohamed Hany Al-Assal — Co-CEO of Misr Italia Properties — stated: “We have managed to increase the company’s landbank to 7.1m sqm as part of our expansion plan across Egypt.”

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