logo
MIP launches Hilltop at Solare – Ras El Hekma's exceptional year-round coastal destination

MIP launches Hilltop at Solare – Ras El Hekma's exceptional year-round coastal destination

Zawya01-06-2025
Cairo: Misr Italia Properties (MIP) has announced the launch of 'Hilltop', the new phase at its coastal flagship project Solare, an exceptional year-round destination in Ras El Hekma. This milestone marks a new step in realizing the project's vision to redefine coastal living in Egypt, offering an integrated lifestyle experience rooted in comfort, luxury, and contemporary living. The new phase boasts panoramic views and modern designs that harmoniously blend nature with contemporary architectural planning, embodying the company's commitment to creating fully integrated communities. The launch comes alongside notable construction progress across Solare, reaffirming MIP's dedication to delivering on schedule and to the highest standards of quality.
Hilltop's architecture is inspired by Miami's contemporary lines, and a lifestyle influenced by Mediterranean cities, set across cascading elevations that range from 26 to 36 meters above sea level; ultimately offering expansive panoramic sea views with enhanced privacy. The phase features over 5,000 sqm of swimmable lagoons, providing each building with its own private beachfront. It includes a variety of unit types ranging between two and three bedrooms. At the highest point of the project, this phase adds the Rooftop Clubhouse, an addition that offers open views of the surrounding scenery. Hilltop also benefits from its close proximity to the Solare Downtown district; an integral component of the larger development currently underway, with an estimated investment of EGP 10 billion. Envisioned as Ras El Hekma's premier commercial, entertainment, and tourism hub, Solare Downtown spans 40 feddans and is expected to attract around 30,000 visitors daily.
Commenting on the latest project updates, Eng. Mohamed Khaled El Assal, CEO and Managing Director of MIP, emphasized that every project the company launches carries a distinctive unique identity that reflects its vision of creating exceptional, fully integrated destinations that go beyond conventional residential concepts; adding that Solare perfectly embodies this vision. Developed under the theme of 'A Place Where the Sun Never Sets,' the project stands as a vibrant tourism destination in the heart of Ras El Hekma, offering an integrated contemporary lifestyle through 16 diverse residential, leisure and entertainment experiences that operate around the clock, not just during the summer, but throughout the entire year. El Assal added that achieving this level of excellence would not have been possible without solid partnerships with first-rate local and international experts across all fields; from design and planning, to execution. To secure the highest standards, MIP has partnered with top-tier global and local firms, most notably EDSA and Whitespace Architecture, for the project's master plan, urban design, and landscape architecture. The architectural designs were curated by Synthetic and Design Avenue, with the support of exceptional local talent, who contributed bespoke solutions tailored to meet the aspirations and needs of today's customers.
Spanning 386 feddans, Solare Ras El Hekma features a one-kilometer-long sandy beach and a three-kilometer seafront. The project is thoughtfully designed across seven elevations rising up to 36 m above sea level. It comprises over 100,000 sqm of swimmable lagoons, including 30,000 sqm of private lagoons, with 82% of the units offering direct water views.
In line with its holistic vision, MIP places premium hospitality at the heart of its development philosophy. The company continuously strives to deliver fully integrated living experiences that seamlessly blend luxury living with hospitality services, a concept brought to life in Solare Ras El Hekma. The destination brings this vision to life by incorporating hospitality into its contemporary lifestyle model, featuring 800 hotel rooms, as well as branded residences, creating a year-round, all-encompassing experience that exceeds customer expectations and caters to evolving needs.
On the construction front, excavation, backfilling, and steps works have been completed, along with the ongoing structural work for the seafront units and finishing works for the cabanas. The company has also finalized land grading for phases one and two, and completed approximately 80% of the grading for the remaining phases. These milestones represent the outcomes of the company's collaboration with RedCon, one of the region's leading construction firms. Currently, 723 units are under construction within the project, as part of an investment plan valued at approximately EGP 1.3 billion, representing around 80% of the targeted cabanas in this phase. As for phase two, which focuses on villas, the company has completed nearly 30% of the construction works to date. Moreover, MIP has already commenced work on the next phases of construction, including both internal and external finishing works. The company also plans to kick off new construction activities covering 1,635 units, including both chalets and villas in the upcoming phase, with investments estimated at EGP 7.5 billion. The first handovers are scheduled for 2027.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Valu closes its 17th securitized bond issuance, worth EGP 460.7mln
Valu closes its 17th securitized bond issuance, worth EGP 460.7mln

Zawya

timean hour ago

  • Zawya

Valu closes its 17th securitized bond issuance, worth EGP 460.7mln

Cairo: Valu, MENA's leading universal financial technology powerhouse, announced today the successful closing of its 17th securitized bond issuance, valued at EGP 460.7 million, with EFG Hermes, an EFG Holding company and the leading investment bank in the Middle East and North Africa (MENA). The issuance is the first under the newly approved EGP 10 billion securitization program. The bond is backed by a receivables portfolio assigned to EFG for Securitization, which acts as the special purpose vehicle (SPV) for the issuance. It is a 12-month bond, rated Prime 1 (sf). Karim Riad, CFO of Valu, commented, 'This issuance marks a pivotal milestone in our ongoing strategy to diversify our funding base and strengthen our capital structure. Launching the first transaction under our newly approved EGP 10 billion program reflects our confidence in the market and our commitment to scaling responsibly. Coming on the heels of our successful listing on the Egyptian Exchange, this transaction further demonstrates our ability to access diverse capital markets and reinforces our position as a leading force in Egypt's fintech ecosystem.' Maie Hamdy, Managing Director – Debt Capital Markets at EFG Hermes, added, 'We are delighted to support Valu in this landmark issuance, which comes on the back of their successful listing on the Egyptian Exchange, a clear signal of investor confidence in the company's vision and performance. Our longstanding partnership with Valu is built on a shared vision of innovation and financial inclusion, and this transaction is a testament to our ability to structure and execute complex deals that meet the evolving needs of high-growth companies. We look forward to continuing to empower fintech leaders like Valu as they scale their impact across the region.' EFG Hermes acted as sole financial advisor, transaction manager, bookrunner, underwriter, and arranger on the issuance. Arab African International Bank (AAIB) served as underwriter and custodian. The issuance was also subscribed to by the Industrial Development Bank of Egypt (IDBE), Arab Banking Corporation (ABC), and Attijariwafa Bank. Dreny & Partners acted as legal advisor, and Baker Tilly as auditor. About Valu Valu (EGX: is the leading universal financial technology powerhouse offering customers and businesses convenient and comprehensive financial solutions. Valu is the first fintech company providing consumer finance to become a listed company on the Egyptian Exchange, and this, alongside Amazon having a direct stake in the firm, represents Valu's growth journey and dynamic business model. Under its product universe, Valu pioneered Buy-Now, Pay-Later (BNPL) solutions in the MENA region through U, providing customizable financing plans for up to 60 months across more than 8,500 stores and online platforms – covering a diverse array of categories, including home appliances, electronics, home finishing, furniture, residential solar solutions, healthcare, education, travel, and fashion, among others. Valu also offers investment products, an instant cash redemption program, and a high-end financing program to facilitate the purchase of big-ticket items up to EGP 60 million in the luxury space through Valu Invest, SHa2labaz, and Ulter. In addition, Valu offers business-to-business solutions through Valu Business. Valu introduced its prepaid card and co-branded credit card in collaboration with Visa, further expanding its range of payment options to provide customers with the most versatile, convenient, and comprehensive payment solutions, making Valu the ultimate choice for all clients' payment needs. As an award-winning fintech player in the MENA region, Valu embraces a progressive business approach with an agile team committed to architecting innovative financial solutions to meet customers' evolving needs. Learn more about us at For further information, please contact: The Valu Public Relations Team News-release@ About EFG Holding EFG Holding (EGX: – LSE: EFGD) is a financial institution that boasts a remarkable 40-year legacy of success in seven countries spanning two continents. Operating within three distinct verticals — the Investment Bank (EFG Hermes), Non-Bank Financial Institutions (NBFI) (EFG Finance), and Commercial Bank (Bank NXT) — the company provides a comprehensive range of groundbreaking financial products and services tailored to meet the needs of a diverse clientele, including individual clients and businesses of all sizes. EFG Hermes, the leading investment bank in the Middle East and North Africa (MENA), offers extensive financial services, encompassing advisory, asset management, securities brokerage, research, and private equity. In its domestic market, EFG Holding serves as a universal bank, with EFG Finance emerging as the fastest-growing NBFI platform, comprising Tanmeyah, a provider of innovative and integrated financial solutions for small business owners and entrepreneurs, EFG Corp-Solutions, which provides leasing and factoring services, Valu, a universal financial technology powerhouse, Bedaya for mortgage finance, Kaf for insurance, and EFG Finance SMEs, which provides financial services for small and medium enterprises. Furthermore, the company delivers commercial banking solutions through Bank NXT, an integrated retail and corporate banking product provider in Egypt. Proudly present in: Egypt | United Arab Emirates | Saudi Arabia | Kuwait | Bahrain | Kenya | Nigeria Learn more about us at For further information, please contact: May El Gammal Group Chief Marketing & Communications Officer of EFG Holding melgammal@ Omar Salama Associate Director of Communications of EFG Holding osalama@ The EFG Holding Public Relations Team PublicRelations@

Egypt Fast-Tracks Mining Sector Expansion Strategy
Egypt Fast-Tracks Mining Sector Expansion Strategy

Zawya

timean hour ago

  • Zawya

Egypt Fast-Tracks Mining Sector Expansion Strategy

Egypt is advancing the development of its mining sector through a strategy aimed at increasing the industry's contribution to GDP to 6% by 2030. The upcoming African Mining Week – Africa's premier gathering for mining stakeholders – will highlight Egypt's investor-friendly industry expansion strategy and connect global investors with emerging partnership and investment prospects across the country's mineral value chain. Intensifying Exploration and Production The Ministry of Petroleum and Mineral Resources ( of Egypt is intensifying exploration and production activities through strategic cooperation with international mining firms. Several exploration campaigns and production developments are underway, including partnerships with AngloGold Ashanti, Nubia Mines Company, Aton Resources, and others to expand gold reserves and increase annual gold production to 800,000 ounces by 2030. Egypt is also advancing potash development with firms like El Sewedy Cap Investments to diversify its mineral portfolio. Maximizing Local Value Addition Egypt is maximizing local value addition through beneficiation projects that leverage existing and new petroleum and petrochemical infrastructure. The goal is to build integrated industries, boost local employment and retain more value domestically through processed mineral products. Key milestones include a July 2025 agreement between the Egyptian Mineral Resources Company and EK Mining Company ( to establish industrial operations around mineral beneficiation, as well as a $658 million ( phosphoric acid complex being developed in partnership with China's Asia Potash in the New Valley governorate. The facility is expected to produce 900,000 tons annually to serve the growing fertilizer market. Investing in Human Capital Human capital development is central to Egypt's mining vision. Under the 2024–2030 Economic Strategy ( the country seeks to increase local content in manufacturing and mining industries to between 60% and 80%. Collaboration with Centamin ( and the General Union of Mines and Quarries aim to build local skills, create jobs and ensure higher Egyptian participation across the mining value chain through targeted training and employment programs. Strengthening Regional Cooperation Egypt is enhancing regional cooperation to foster shared growth in the global mining industry. The country is partnering with BRICS nations to establish a joint geological platform focused on knowledge transfer, seismic studies and exploration of strategic minerals critical to energy and industrial transitions. Additionally, Egypt is strengthening collaboration with mining firms from China, Saudi Arabia (including Al-Haitham Mining Company) and South Africa to scale up infrastructure, exploration, and cross-border trade in minerals. Distributed by APO Group on behalf of Energy Capital&Power.

Egypt: El-Sisi renews Abady's tenure as Chairman of Golden Triangle Economic Zone
Egypt: El-Sisi renews Abady's tenure as Chairman of Golden Triangle Economic Zone

Zawya

timean hour ago

  • Zawya

Egypt: El-Sisi renews Abady's tenure as Chairman of Golden Triangle Economic Zone

Arab Finance: Egyptian President Abdel Fattah El-Sisi has issued a decree renewing Mohamed Ali Abady's appointment as the Chairman of the General Authority for the Golden Triangle Economic Zone. Another presidential decree has also renewed Mohamed Aboulgheit's appointment as Deputy Minister, Executive Vice Chairman of the authority. The Golden Triangle project, located in Upper Egypt, is considered one of the country's key economic development initiatives, aiming to attract investment across mining, industry, and tourism. © 2025 All Rights Reserved Arab Finance For Information Technology Provided by SyndiGate Media Inc. (

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store