Latest news with #MisrItaliaProperties
Zawya
8 hours ago
- Business
- Zawya
MIP launches Hilltop at Solare – Ras El Hekma's exceptional year-round coastal destination
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.
Zawya
19-02-2025
- Business
- Zawya
Misr Italia Properties achieves $78mln in sales for January 2025
Egypt - Misr Italia Properties recorded EGP 4bn in sales in January 2025, marking an impressive 200% growth compared to the same period last year. This strong performance is seen as a key step toward meeting the company's first-quarter targets, with expectations to surpass the results of 2024. Mohamed Khaled El-Assal, CEO and Managing Director of Misr Italia Properties, emphasized that this growth was fueled by the launch of new project phases and expanded investment opportunities. 'Our diverse portfolio in prime locations, including East Cairo, the North Coast, and Ain Sokhna, strengthens our market position and contributes to this success,' he said. Looking ahead, El-Assal announced plans to invest EGP 11bn in 2025 as part of the company's ongoing expansion strategy. The investment will support a range of initiatives, including the opening of 23 international retail outlets. These will feature popular brands like 'Pier 88' and 'Brunch & Cake' in the restaurant and hospitality sectors, as well as 'LA7' in wellness and fitness. These outlets will be located within the 'Cairo Business Park,' East Cairo's vibrant hub for entrepreneurship, innovation, arts, and culture. Additionally, Misr Italia Properties has launched the final phase of its Cairo Business Park project, which includes 40 new office spaces spread across the 4th floor of three buildings. These flexible office units, ranging from 55 to over 300 square meters, are designed to meet the growing demand for administrative spaces in East Cairo. With delivery scheduled for 2027, the new offices aim to attract both local and international companies to this dynamic business ecosystem.
Daily News Egypt
19-02-2025
- Business
- Daily News Egypt
Misr Italia Properties Achieves EGP 4bn in Sales for January 2025
Misr Italia Properties recorded EGP 4bn in sales in January 2025, marking an impressive 200% growth compared to the same period last year. This strong performance is seen as a key step toward meeting the company's first-quarter targets, with expectations to surpass the results of 2024. Mohamed Khaled El-Assal, CEO and Managing Director of Misr Italia Properties, emphasized that this growth was fueled by the launch of new project phases and expanded investment opportunities. 'Our diverse portfolio in prime locations, including East Cairo, the North Coast, and Ain Sokhna, strengthens our market position and contributes to this success,' he said. Looking ahead, El-Assal announced plans to invest EGP 11bn in 2025 as part of the company's ongoing expansion strategy. The investment will support a range of initiatives, including the opening of 23 international retail outlets. These will feature popular brands like 'Pier 88' and 'Brunch & Cake' in the restaurant and hospitality sectors, as well as 'LA7' in wellness and fitness. These outlets will be located within the 'Cairo Business Park,' East Cairo's vibrant hub for entrepreneurship, innovation, arts, and culture. Additionally, Misr Italia Properties has launched the final phase of its Cairo Business Park project, which includes 40 new office spaces spread across the 4th floor of three buildings. These flexible office units, ranging from 55 to over 300 square meters, are designed to meet the growing demand for administrative spaces in East Cairo. With delivery scheduled for 2027, the new offices aim to attract both local and international companies to this dynamic business ecosystem.
Daily News Egypt
07-02-2025
- Business
- Daily News Egypt
RiseUp AI Summit Concludes, Announces Egypt's First PropTech Innovation Hub
AI Summit concluded its first edition, drawing over 2,000 attendees, 50 exhibitors, and major global technology firms, including Google, Microsoft, and Orange. The event explored AI's impact on various industries, reinforcing Egypt's role as a regional hub for AI innovation. Held at Cairo Business Park in partnership with Misr Italia Properties, the summit introduced Sparky, Egypt's first AI event host, demonstrating AI's role in modern workplaces and events. A key announcement was the launch of a PropTech Innovation Hub and Egypt's first PropTech Accelerator, aimed at revolutionizing the real estate sector. The hub, set to open within Cairo Business Park, will host a PropTech-focused summit in November. Ahmed Seoudy, Co-CEO of Misr Italia Properties, said the initiative would integrate AI into real estate, enhancing customer experience and optimizing property management. The summit featured expert discussions on AI-driven entrepreneurship, marketing, and investment. Abdelhameed Sharara, Founder and CEO of RiseUp, emphasized the event's role in empowering startups to leverage AI for growth. In a session led by Microsoft's Ahmed Salama, experts discussed AI's role in enhancing business efficiency and scalability. A panel on AI in marketing and customer experience featured executives from Microsoft, eXtra, Orange Egypt, and Robusta Technology Group, exploring AI's potential for personalized campaigns and automation. An investment panel with leaders from Endure Capital, Salica Oryx Fund, Tektonik Ventures, and Exits MENA addressed funding strategies for AI startups. A fireside chat on AI in real estate included insights from Misr Italia Properties, Design Avenue, and SEQOON. The summit underscored the need for AI adoption across industries and strategic investments to drive innovation. The PropTech accelerator marks a major step in integrating AI into Egypt's real estate sector, positioning the country as a leader in AI-driven development.
Daily News Egypt
06-02-2025
- Business
- Daily News Egypt
RiseUp Partners with Misr Italia Properties to Launch Egypt's First AI Summit
RiseUp has announced the inaugural RiseUp AI Summit, set for February 4 at Cairo Business Park, in partnership with Misr Italia Properties. The event will position Egypt as a regional hub for AI innovation, bringing together global tech leaders, investors, and startups to explore AI's role in real estate and other industries. Abdelhameed Sharara, CEO of RiseUp, emphasized the summit as a milestone for MENA's tech ecosystem, fostering innovation and collaboration. Misr Italia Properties CEO Karim El Assal highlighted the company's commitment to AI-driven real estate transformation, reinforcing its role in sustainable urban development. The summit will feature stage demos, startup exhibitions, panel discussions, and workshops, with participation from Google, Microsoft, and Orange. It aims to equip AI professionals with essential skills, drive sector-wide digital transformation, and strengthen Egypt's AI ecosystem.
