in the New Administrative Capital
Mohamed hany El Assal: Misr Italia to participate for the first time in MIPIM with various investment opportunities
Misr Italia Properties co.” participates for the first time in the MIPIM 2023 exhibition with a number of promising investment opportunities in various parts of the Arab Republic of Egypt، on top of which is the New Administrative Capital، where “Misr Italia” is a leading developer.
Misr Italia portfolio 25 projects، with delivering 15 thousand units
“Misr Italia Properties” owns a diversified portfolio which includes a number of residential، coastal، commercial and touristic hotels projects all over Egypt، with a total of 25 projects.
Among the projects of “Misr Italia” are IL BOSCO، Vinci، Vinci Street and the three projects in the New Administrative Capital، while in New Cairo the company has La nuova Vista، IL BOSCO City، Garden 8 and Cairo Business Park، and in Ain Sokhna in the Red Sea، the Kai Sokhna project includes the Kai Hotel، which was launched recently، and the company will soon launch a huge project in the North Coast.
Preparing to participate in MIPIM 2023
Eng. Mohamed Hany El Assal، CEO and Managing Director of Misr Italia Properties، confirmed that the company has prepared over the past year to participate in MIPIM 2023، after studying the requirements of foreign clients and investment funds، which are compatible with the products provided by Misr Italia، especially in the New Administrative Capital، which the company will highlight their investment opportunities during its participation in the exhibition.
He indicated that Egypt has great opportunities to attract foreign investments in MIPIM 2023، as there are many distinguished projects، including what are being implemented in the New Administrative Capital، to where the government and ministries are moving during the current year with the start of the actual operation of many major projects which in turn create life and increase the added value of the projects.
Political and economic stability
Great opportunities in Egypt to attract foreign investments، especially in the New Administrative Capital
Egypt is witnessing political and economic stability that distinguishes it from competing countries، is a large market that needs more projects and has price competitiveness and distinction، he added.
He assured that the company will be keen during MIPIM 2023 to explore more opportunities and the latest developments in the construction sector at the global level، so as to gain more experience that will be directed to its new projects for providing distinguished products.
Projects with the highest returns
Average return on investment 300% in projects، up to 1000%
Mohamed Hany El Assal stated that Misr Italia is characterized by high returns on investment in its projects، reaching 300% on average and there are projects whose returns on investment has reached 1000%، such as La nuova Vista in New Cairo، in which the company offered its first villa in 2007 at a price of EGP 2.5 million، and its price has now reached EGP 35 million.
He explained that the high investment returns are achieved as a result of the interest in projects after handover and the periodic continuation of the processes of raising efficiency and development and providing the highest level of after-sales services، noting that، “The successful developer must provide added value، not just construction.”
High returns as a result of methodology relying on providing added value، the highest level of management and after-sales services
He found that the company’s customers are interested in buying again and for their children، confirming the customers’ confidence in Misr Italia as a result of the company’s keenness to achieve added value and the ability of its projects to fulfill the highest returns for its customers.
He stressed that the company is keen to diversify the sites of its projects and the uses to include residential، tourist، hotel and commercial as well as administrative properties that “Misr Italia” has implemented and delivered about 12 to 15 thousand real estate units in the Egyptian market over the course of 42 years.
Misr Italia launched in 2022، a new phase of the “Vinci” project (Vinci Lagoons)، which contains the first artificial lakes where it is possible to swim in the New Administrative Capital، on an area of 5000 square meters، with a beach strip that extends to 700 meters.
The company has also launched the “Radicle 1” project in the New Administrative Capital، that is a commercial and administrative project which helps in empowering youth and encouraging innovation and entrepreneurship.
“Misr Italia” acquired a 400 -acre plot of land on the northern coast، located at kilometer 199 in Ras al-Hikma Bay on the Alexandria-Matrouh road، bringing the company’s land portfolio to 7.1 million square meters.
Agreements and partnerships
“Misr Italia” has entered into a number of contracts and partnerships with many international companies and specialized and experienced entities in the engineering and technological fields، within the framework of the company’s keenness to constantly develop and provide high quality projects that suit its current and future customers.
Among these agreements are the signing of a memorandum of understanding with Honeywell to provide smart city techniques in some of the company’s projects، including security and energy saving techniques، and others، which will play an effective role in rationalizing energy use and reducing carbon emissions، and signing an agreement with “Etisalat” to provide communications and internet services for the Cairo Business Park project.
The company also contracted with the engineering house of expertise “ECB for Engineering Designs، Consultancy and Project Management” to manage the “IL POSCO City” project in New Cairo and supervise its implementation and a contract was signed with “ASSAS” to implement the new phases of the “IL POSCO Administrative Capital” and “IL POSCO City New Cairo” projects to unite efforts with large credible entities and turn designs into tangible reality to meet customers’ needs and aspirations.
Regarding sales، “Misr Italia” achieved an estimated EGP ٩ billion during last year، an increase of 50% compared to 2021 sales، and the company delivered units worth EGP 3.1 billion.