Misr Italia to deliver 5 Projects with 500 units during 2020

Misr Italia Properties plans to deliver 500 units this year in its 5 projects according to its CEO Mohamed Hany El-Assal.

The projects include La Nuova Vista, Garden 8 Mall, Cairo Business Park, IL Bosco in New Administrative Capital, and KAI Sokhna, he added.

Spanning over 40 feddan, La Nuova Vista comprises 131stand-alone villas, twin houses, and townhouses.

While, Garden 8 Mall is a premium commercial project that offers 58 commercial stores with various spaces.

The multi-service project is being built on an area of ​​22,000 sqm with a total investment of  500 million pounds. The experimental opening of the first phase of Garden 8 is scheduled for the end of April, while the official opening will be in June.

Cairo Business Park presents 42 administrative buildings with 1.5 billion pounds investment. It spans over 78,000 sqm, and includes a hotel managed by the Hilton Garden Inn comprising 135 rooms.

The first phase of the project will be delivered in the third quarter (3Q) of 2020, while the whole project will be delivered in 2022. The mall will host luxury brands, flagship stores, high-end F&B chains with special concepts for Garden 8 and multiple other outlets.

The fourth project is IL Bosco, the first private sector project to be delivered in the New Administrative Capital with a total investment of 16 billion pounds and is being built on ​​207 feddan. It includes 5,100 units and sports and social clubs, in addition to an administrative and commercial mall on an area of ​​75,000 sqm which is scheduled to be delivered by 2022.

The mall will be constructed this year and it will be fully leased, in addition to other three buildings representing the iconic Vertical Forest project. The first phase of IL Bosco offers 1,700 units and its delivery will start in 3Q 2020.

The fifth project, Kai Sokhna, is a boutique luxury living coastal project with a total investment of approximately  2.4 billion pounds designed by Alchemy Design Studio. It is located on Al-Zaafarana-Ain Sokhna Road and includes 330 units and a 5-star hotel with a capacity of 180 rooms managed by Hilton. The first phase of the project includes 40 units and is scheduled to be delivered this year.

He disclosed that the company’s investment plan in the current year includes  3 billion pounds to be allocated for construction works and 800 million pounds for installments of the company’s lands.