Cairo – Mubasher: Misr Italia Properties plans to invest EGP 1.50 billion to implement a new phase spanning 13 feddans in its residential project in the R7 district in the New Administrative Capital (NAC).
Mohamed Hany El-Assal, CEO and Managing Director of Misr Italia Properties, pointed out that the entire project is located on a 110-feddan area, according to a press release.
El-Assal stated that the total investment of the development scheme is EGP 7 billion, adding that the delivery of the project will take place in 2023.
In the first half (H1) of 2022, the real estate developer registered sales of EGP 4.20 billion, which came in line with its objective to log EGP 7.50 billion sales by the end of 2022.
Meanwhile, sales from IL BOSCO projects in New Cairo exceeded EGP 1.50 billion during the January-June 2022 period.
