Misr Italia Properties (MIP) signs an MoU with the annual entrepreneurship and innovation event RiseUp to establish an innovation and entrepreneurship hub in East Cairo located in Cairo Business Park in an area of 2,500 sqm, Invest-Gate reports.

The agreement was signed on the sidelines of the real estate exhibition Cityscape.

The Cairo Business Park project is situated at 78,000 sqm and executed with total investments of EGP 6 billion.

“This agreement aligns with the company’s strategy to support startups and budding entrepreneurs to expand the scope of access to facilities necessary for their businesses,” CEO and Managing Director of MIP, Mohamed El-Assal, comments.

“We are thrilled to establish an innovation hub at Cairo Business Park as it’s set to become East Cairo’s ultimate destination for entrepreneurs, experts, and business leaders,” Founder and CEO of RiseUp, Abd El Hamid Sharara, says.

The construction works of Cairo Business Park are complete by 95% and it is anticipated to be operational in March 2023.

The project will include a 5-star hotel, in addition to other facilities and amenities.