Misr Italia Properties (MIP) signs agreements and a memorandum of understanding (MoU) at the United Nations Climate Change Conference (COP27) to activate its sustainability measures and realize green goals, Invest-Gate reports.

The Company inks the UN Global Compact Network Egypt (UNGCNE) “Egypt’s Sustainable Communities” initiative declaration to enhance the lives of millions.

MIP also supports the Climate Ambition Accelerator which allows for cooperation and sharing of expertise in the construction and real estate sectors.

Moreover, the developer pens an MoU with Schneider Electric to use its EcoStruxure systems which enables the comprehensive management of all project’s infrastructures, including, security, command and control centers, energy, heating, air conditioning, and water.

An agreement is also signed with Future Clean Energy for the installment of solar panels on the roofs of 3 commercial malls with a capacity of 400 kW from solar power plants to produce renewable energy and reduce user expenses by up to 20%.

Mohamed Hany El Assal, CEO and Managing Director of MIP, says: “COP27 in Sharm El Sheikh focused on constructive implementation and this has been the guiding principle of our strategy; the real estate industry as estimated by the World GBC is responsible for about 40% of global carbon emissions; as an industry, real estate development needs to take proactive steps to reduce its impact on the planet and its resources.”

In line with the company’s customer-centric “Inspired by You” approach towards sustainability, MIP’s main priority is their client’s quality of life and moving towards a greener climate by introducing innovative, time and cost-efficient methods in urban planning. Mohamed Khaled El Assal, CEO and Managing Director of MIP, highlights: “We believe that in order to get closer to achieving the UN’s Sustainable Development Goals and Egypt’s 2030 vision for sustainable living.”