Misr Italia Properties, a prominent real estate entity in Egypt, has recently disclosed its financial outcomes for the first half of 2024, Invest-Gate reports.

Demonstrating robust performance, the company secured contractual sales totaling EGP 10.1 bn in the first half of 2024, a notable surge from EGP 7.2 bn recorded in the corresponding period last year, reflecting a remarkable growth rate of 40% that surpassed the total sales for the entirety of 2023.

These exceptional achievements underscore the company’s stellar performance during the period, aligning with its strategic objectives for expansion and advancement within the Egyptian real estate sector.

Addressing the company’s performance and financial standing in the first half of 2024, Mohamed Khaled El Assal, CEO and Managing Director of Misr Italia Properties, remarked, “The substantial volume of contractual sales realized in the first half of 2024 is a testament to the deep trust our clients place in us and the value proposition we consistently deliver. This spurs us to uphold the highest quality standards across all projects, curate distinctive real estate offerings and experiences for our clientele, and ensure timely delivery of units as per contractual agreements. Committed to adhering to top-tier international benchmarks in innovation and sustainability, we remain steadfast in aligning our projects with the company’s vision and strategy, prioritizing customer contentment.”

Regarding project implementation rates, Misr Italia Properties aims to hand over 580 units in “Il Bosco” project within the current year. Progressing to completion milestones, Vinci project in the New Administrative Capital has achieved significant advancement, with over 480 units nearing completion in readiness for delivery in the near future.

Meanwhile, the Il Bosco City project in New Cairo is approaching the final stages of its first phase, poised to commence deliveries by year-end.

Conversely, the company has realized substantial progress in the development endeavors of “Solare” Ras El Hekma project, with total investments in the project reaching EGP 54 bn to facilitate construction activities throughout the preceding period.