Misr Italia contracts with Solid to finalize 3rd phase of IL Bosco
To make good on its promises to clients by adhering to delivery schedule, Misr Italia Properties unveiled a deal it inked with Solid Construction, one of Egypt’s leading contractors, for the implementation of its project, IL Bosco, in the New Administrative Capital.
Under this agreement, Solid will carry out works in the upcoming period for EGP400mln.
The agreement came in response to presidential directive publicized lately requiring developers to expedite the execution of projects, particularly in NAC.
Further still, Misr Italia Properties sealed deals with 3 other contractors to finalize concrete works at Vinci New Capital for EGP200mln.
Misr Italia Properties held a signing ceremony to mark sealing the agreement with Solid which will carry out concrete, internal, external finishing works at 3rd phase of IL Bosco. Solid started construction works at the project mid-August of this year and vowed to accomplish all works within 18 months starting from the commencement date.
Mohamed Khalid Al-Assal: We are always keen to hire top contractors in order to speed up constructions
According to Mohamed Khalid Al-Assal, chief executive and managing director at Misr Italia Properties, said the company is always keen to hire top specialists to perform works, including those of IL Bosco and Vinci New Capital.
“Solid is trying to execute all tasks, including this phase, on time. Additionally, Misr Italia Properties signed other agreements with 3 companies to implement concrete works at Vinci New Capital, as the 1st of September has been set as a date for accomplishing concrete works at 6 buildings in the span of 18 months starting from the date of commencement.”
As regards its other projects, Misr Italia Properties intends to forge other much bigger partnerships in the upcoming period with Solid, he explained.
Projects launched recently by Misr Italia Properties keep pace with the Egyptian State’s drive to develop the New Administrative Capital, as IL Bosco and Vinci New Capital are ranked among the 4th Generation Projects that embody sustainability and integrity and both are located in NAC, he maintainted.
Karim Fawzi: Cooperation with Misr Italia Properties adds a lot to Solid’s track record
In the same vein, Chief Executive at Solid Eng. Karim Fawzi said that cooperation with Misr Italia Properties bolsters Solid’s track record, particularly in NAC.
“Just recently, many top developers kept inviting contractors to execute works of their own, and the decision to collaborate with Misr Italia Properties was issued after it conducted comprehensive studies,” said he.
The New Administrative Capital has turned out to be one of the most attractive destinations for real estate investments, while the Egyptian State’s interest and keenness to develop this area is growing, he noted.
IL Bosco, the most environment-friendly projects by Misr Italia Properties, spreads over 200 acres in the heart of NAC at investments totaling EGP16bn.
IL Bosco’s residential units are built amidst large green spaces, rendering a style blending architecture with nature, and from where the Green River, the NAC’s largest central park, can easily be seen.
Misr Italia started the handover of the 1st phase of the project last year, one year ahead of schedule, and thus became the first developer to kick-off a handover in NAC.
As regards Vinci New Capital, it is the second project launched by Misr Italia Properties in NAC, as it features an upscale location and spreads over 110 acres in the heart of the Diplomatic Area in close proximity to El-Masa Hotel and the Ring Road.
Misr Italia Properties is keen to follow up the best construction models in NAC.
