Misr Italia Becomes First Private Developer to Deliver Projects at NAC

With the government moving to the New Administrative Capital (NAC) and starting operations from there, Misr Italia Properties (MIP) has succeeded in becoming the first real estate developer in the private sector to start delivery of the first phase of “IL Bosco” in 2020 ahead of its time as it was set to be delivered in 2021,

Mohamed Hany El Assal, CEO of Misr Italia Properties, said that the company is aware of the importance of the time factor to a project of the size of “IL Bosco”.

Therefore, Misr Italia Properties devoted massive efforts to develop the first phase of "IL Bosco" to provide integrated and distinguished residential services to customers.

He added that the company collaborated with eight of the largest contracting and consulting offices to ensure the speedy completion of construction works for the project and deliver the units ahead of their due date, which reflects the extent of the company's commitment to its promises to customers.

Al Assal also pointed out the company’s achievement in becoming the first real estate developer of the private sector to deliver the first phase of their project in the New Administrative Capital, conveying the company's continued efforts to provide the best performance in the real estate market.

Misr Italia Properties currently offers a set of attractive payment plans in "IL Bosco" that can extend over 8 years with a 5% down payment only and equal installments.

The first phase of "IL Bosco" brings 1,700 units that vary in designs and sizes between stand-alone villas, twin houses, and 2 & 3 bedroom apartments.

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Last December, Misr Italia Properties organized site visits for their homeowners to witness the progress of their future homes and follow up on the latest construction developments in the project first-hand.

Additionally, owners got to check finished mock-ups for villas and twin house units, to visualize the final form of their homes in "IL Bosco".

With a total investment of EGP 16 Billion, "IL Bosco" is one of the uniquely environmentally friendly projects by Misr Italia Properties, to offer units amid wide green areas, in a distinctive design that mixes architecture and nature.

Extending over 207 acres in the heart of the New Administrative Capital, "IL Bosco" enjoys a premium location with an alluring view on NAC’s "Green River", the largest central park in the world.

The project comprises residential and commercial areas, gym, clubhouse, along with 300 villas with complete concrete works and 2,500 apartments under construction.

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It is worth mentioning that Misr Italia Holding has been at the vanguard of developing Egypt’s leading real estate market for years.

Misr Italia Holding is known for providing paramount projects for residential, commercial, coastal and hospitality properties across Egypt.

It has grown to become one of the largest developers with total investments of 68 Billion EGP over the coming 14 years.

The company’s land bank totals to 11 Million meters square across Egypt with 11 residential projects, 9 commercial projects, 5 luxury hotels, and 6,000 delivered units.

Flagship projects include "IL Bosco", "Vinci", and "Vinci Street" in the New Administrative Capital, La Nuova Vista, Garden 8 and Cairo Business Park in New Cairo, Kai Sokhna, Kai Sahel, IL Bosco City in Mostakbal City, Hilton Kai Sokhna, and Hilton Garden Inn.