Misr Italia eyes $396mln in sales during 2022
- Date: 23-Sep-2022
- Source: Zawya
- Sector:Real Estate
- Country:Egypt
Misr Italia eyes $396mln in sales during 2022
Egypt - Misr Italia Properties has achieved sales worth EGP 4.2bn in the first half (1H) of 2022, compared to EGP 2.65bn in the same period last year. The company aims to achieve EGP 7.5bn in sales by the end of this year.
CEO of Misr Italia Properties Mohamed, Hany El Assal, said that the company is among the top three real estate developers in East Cairo in terms of sales, especially in IL Bosco City, New Cairo, whose sales exceeded the target EGP 1.5bn during 1H 2022.
El Assal noted that the company is continuing to search for new opportunities that the company is sure of its seriousness and feasibility. Hence, the company recently acquired a land area of 400 feddan in North Coast, located 200 km from Ras Al-Hikma area, which is characterized by the most beautiful and purest beaches in the world. Accordingly, Misr Italia’s land bank reaches EGP 7.1 million sqm.
He added that the project’s investments amount to EGP 20bn, and it will include a variety of residential and serviced-apartments, recreational and commercial areas, united by water formations and green spaces spread throughout the project. In addition, two hotels will be developed according to the highest international standards,
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