Misr Italia Properties has commenced the construction of VINCI boutique residential project in the New Administrative Capital (NAC), with investments worth EGP 500 mn, Invest-Gate reports.

Misr Italia finalized a deal with three contracting companies to implement the construction works of VINCI, with plans to accelerate the project’s implementation to be handed over in 2022, Mohamed Hany Al Assal, co-CEO of Misr Italia, said in a press release on April 23, noting the developer targets offering the best customer experience through the project’s delivery ahead of schedule.

Al Assal further added that Misr Italia is determined to set exquisite architecture standards in NAC through its project. Hany Saad Innovations office was selected for the exterior and interior architectural designs to surpass clients’ expectations in VINCI. Additionally, the project offers landscape and custom design options, including flexible facade designs that suit all clients’ needs, according to the statement.

Covering an area of 110 acres, VINCI lies at a prime location in NAC’s Diplomatic District. The project comprises VINCI Street, an integrated service area incorporating premium retail and entertainment spaces, and clinics offered at a 0% down payment and up to six-year payment plans, Al Assal elaborated.

The co-CEO also highlighted that VINCI includes villas, townhouses, and twin houses, in addition to upscale one- to four-bedroom apartments. The project’s built-up area accounts for only 17%, while the remaining 83% is allocated for landscapes and a huge retail area, complemented with commercial and entertainment purposes.

“Misr Italia’s land bank reaches up to 6 mn square meters. The company manages a huge portfolio of unique projects including Kai Sokhna, with total investments of EGP 1 bn, which features a boutique residential resort and a five-star hotel that entails all entertainment and luxury services managed by Hilton Worldwide,” he noted.

Other projects include the fully integrated business hub “Cairo Business Park” in New Cairo, “La Nuova Vista” residential project which includes 131 villas in east Cairo, as well as, “Garden 8” recreational hub, with total investments of EGP 800 mn.

Additionally, Misr Italia is developing another project in NAC, dubbed IL BOSCO, with total investments of EGP 16 bn, Al Assal revealed, explaining that the firm will soon introduce IL BOSCO City, its latest family addition to east Cairo’s Mostakbal City.