Misr Italia focuses on completing construction projects in Egypt

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Egypt’s Misr Italia holding set aside $28 mn to complete projects

Egypt’s leading property developer Misr Italia Holding has signed construction deals of   ($28 million) during the first quarter of 2016 to complete the company’s already existing projects.

According to company’s executive chief Mohamed Al-Assal the company has many projects that they are undertaking in Egypt and so far no single one has  been completed yet and  the funds will; ensure they are all complete.

 He added that Misr Italia aims to carry out 1500 units in its various projects by the end of 2016 compared to 1000 units the previous year, Al-Assal noted.

On the other hand, the company has implemented 85 percent of the first phase of Cairo Business Park which is scheduled for completion within 2019. The project consists of 42 administrative buildings covering 90,000 square metres, while the commercial buildings will cover space of 20,000 square metres, in addition to a car park, a 120-room hotel, a conference hall accommodating 1,000 individuals. It serves medium-size and large-sized projects.

“We have been awarded many projects by the government of Egypt and we need to complete them on time and that’s  why we had to  pump more funds from our kitty as that is the way to deal with the government” he added

The executive also added that they are looking into scooping more projects in the upcoming financials year as they have constantly recorded growth for the company.

“We have a clear record of completing projects on time and I don’t have a reason of not taking others since we have enough man power and funds to drive all projects” he added

Misr Italia is a diversified real estate developer that provides varied projects suited for the different market segments. Starting from economic housing projects.

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