Misr Italia Properties announced receiving the ministerial approval for its Solaré Ras El Hikma project located on Egypt’s North Coast, Invest-Gate reports.

The decree came five months after the developer submitted plans, and three months after launching the first phase, which was sold out within hours, achieving EGP 2.4 bn in sales for 320 units.

Receiving ministerial approval swiftly also shows the company’s credibility and ambition for the Solaré Ras El Hikma project.

Construction is set to start this month with unit deliveries by the beginning of 2027. The project is part of Misr Italia Properties’ strategy to diversify its portfolio with distinctive developments catering to evolving customer needs. It also supports government efforts to accelerate northwest coast development and job creation.

Situated at Km 199, the 389-acre Solaré Ras El Hikma offers an Italian lifestyle with a one-kilometer sandy beach. Units include villas and chalets with sea views across lagoons and recreational areas totaling 100,000 sqm. Amenities will include two hotels, a commercial center, and a clubhouse with an urban beach.

The master plan was developed by US firm EDSA and Dutch company White Space Architects is handling architecture. Misr Italia Properties has a land bank of 7.1 mn sqm and achieves consistent growth, adding to its portfolio.