Misr Italia Properties, a leading real estate developer in Egypt, is planning to deliver 500 units this year within its five major projects spread across the country, reported Daily News Egypt.
Four of these projects – La Nuova Vista, Garden 8 Mall, Cairo Business Park, IL Bosco – are located in the New Administrative Capital, while the fifth one, Kai Sokhna is coming up on the Al-Zaafarana-Ain Sokhna Road, stated the report citing Misr Italia Properties CEO Mohamed Hany El Assal.
La Nuova Vista comprises 131 stand-alone villas, twin houses, and townhouses, while
Garden 8 Mall is a premium commercial project that offers 58 commercial stores with various spaces.
The Cairo Business Park is major project being developed over a 78,000-sq-m area at an investment of E£1.5 billion ($95.2 million). Once completed, it will feature 42 administrative buildings besides a 135-room hotel managed by the Hilton Garden Inn.
El Assal said the first phase of the project will be delivered in the third quarter, while the entire project will be handed over 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, he stated.
IL Bosco, the first private sector project to be delivered in the New Administrative Capital, boasts 5,100 units and sports and social clubs, in addition to an administrative and commercial mall. The project is scheduled to be delivered by 2022.
Kai Sokhna is a E£2.4 billion boutique luxury living coastal project being designed by Alchemy Design Studio. Located on Al-Zaafarana-Ain Sokhna Road, the project boasts 330 units and a five-star hotel with a capacity of 180 rooms managed by Hilton, said El Assal.
The first phase of the project includes 40 units and its delivery is scheduled to start this year, he added.
TradeArabia News Service
25/03/2020
