Misr Italia Properties and ASASS Construction sign a new partnership agreement

The agreement seeks to complete the construction work of IL BOSCO New Capital and IL BOSCO City New Cairo

The partnership aims at accelerating the delivery of high-quality projects and meeting customers’ requirements while adhering to delivery schedules.

Misr Italia Properties (MIP), a leading Egyptian real estate developer, announced its collaboration with ASASS Construction, one of the biggest construction companies in Egypt, to ensure delivering the new phases of IL BOSCO New Capital and IL BOSCO City New Cairo projects according to the agreed-upon contractual delivery dates. This is in line with MIP’s strategy to collaborate with trusted partners to ensure the highest levels of quality across its projects.

The announcement of this strategic partnership came during a signing ceremony in the presence of Eng. Mohamed Hani El-Assal, CEO and Managing Director of Misr Italia Properties; Eng. Mohamed Khaled El-Assal, CEO and Managing Director of Misr Italia Properties; Eng. Ziad El-Hares Managing Director of ASASS Construction; and Eng. Islam Onsy General Manager of ASASS Construction. Under the scope of the partnership, ASASS will be responsible for the construction work of phase one of IL BOSCO City, New Cairo as well as the buildings of phase one, and the villas of phases two & three of IL BOSCO, New Capital.

Mohamed Hany El Assal, CEO and Managing Director of MIP commented on the new partnership saying, “Our partnership with ASASS Construction comes in line with Misr Italia’s strategy to join forces with big credible entities that can turn the designs of its various projects into a tangible reality, hence meeting customers’ needs and aspirations; highest quality and according to global standards. All the while, abiding by the delivery schedules announced by the company, stemming from our keenness on expediting implementation rates and adhering to the agreed upon delivery dates.”

General Manager of ASASS Construction, Eng. Islam Onsy, stated that the partnership with Misr Italia Properties is considered a newly added achievement for ASASS’ accomplishments in the construction field. Particularly, Misr Italia Properties is one of the most prestigious leading companies in the real estate development field in Egypt and it continuously seeks a high level of service quality that is provided to its clients in various projects. Eng. Islam also pointed out that Misr Italia was able to prove its financial, technical, and human capabilities that have made a valuable addition and a significant diversity in the Egyptian real estate market

Misr Italia Properties has made significant efforts to successfully complete 100% of the first phase villas in IL Bosco project in the Administrative Capital before the agreed upon date. The company has also completed 80% of the second phase villas, in addition to completing 77% of the concrete works in the first phase, and more than 50% of the concrete works in the second and third phases of the buildings in the same project, that is designed by Callison RKTL and DMA to ensure maximum comfort in a healthy environment with special attention to outdoor areas and greenery.

Located in the heart of New Cairo, IL Bosco City also witnesses significant progress with the commencement of the soil treatment and foundation works for the first phase of the project in which MIP plans to invest EGP 800 million this year, reinforcing the promise of on-time delivery in 2024. Through this project, MIP aims to provide better quality of life for its customers, by collaborating with Callison RTKL and DMA to implement the project designs, and renown Italian architect, Stefano Boeri, for landscape design and utilization of green and open spaces, in addition to the 15-minute city concept, which brings all life necessities within maximum proximity of 15 minutes to the city’s residents

It is worth mentioning that Misr Italia Properties is always keen on collaborating with the biggest specialized entities in their fields, from contracting and project management to smart and technological solutions, with the aim of providing integrated smart cities across the company’s diversified portfolio.

About Misr Italia Properties:

Misr Italia Holding has been at the vanguard of developing Egypt’s leading real estate market for years. It is known for providing paramount projects for residential, commercial, coastal, and hospitality properties across Egypt. The company’s land bank stretches across Egypt with 11 residential projects, nine commercial projects, five luxury hotels and 6,000 delivered units. Flagship projects include IL BOSCO, VINCI & VINCI Street in the New Administrative Capital, IL BOSCO City La Nuova Vista, Garden 8, Cairo Business Park and Hilton Garden Inn in New Cairo, Kai Sokhna.

About ASASS Construction Company:

ASASS was established in 2011 as a General Contracting Company focused on turnkey projects in various sectors from residential to administration and commercial. ASASS has a proven successful record of accomplishments in Egypt and GCC with expansion plans across Africa. Capitalizing on their experienced project management team, they are able to beat the market benchmarks in both delivery time and quality control.