Misr Italia Properties (MIP) announced it will start the delivery of the first phase of ‘IL BOSCO’ in 2020 ahead of schedule set in 2021, Invest-Gate reports.

Located in the New Administrative Capital (NAC), the integrated project’s first phase comprises 1,700 units that vary in designs and sizes between standalone villas and twin houses, in addition to two-to-three bedroom apartments.

Commenting on the news, Mohamed Hany El Assal, CEO of MIP, said, “The company is aware of the importance of the time factor for a project of the size of ‘IL Bosco’. Therefore, MIP devoted massive efforts to develop the first phase of ‘IL BOSCO’ to provide integrated and distinguished residential services to customers.”

He added that the company collaborated with eight of the largest contracting and consulting offices to ensure the speedy completion of construction works for the project and deliver the units ahead of their due date.

With IL BOSCO’s delivery, “the company becomes the first private real estate developer to deliver the first phase of their project, reflecting the company’s continued efforts to be the best performer in the market,” according to El Assal.

With a total investment of EGP 16 bn, IL BOSCO is an environmentally friendly project that extends over 207 acres in the heart of NAC, while overlooking one of the largest central parks in the world, Green River. The project features residential and commercial areas, gym, clubhouse, along with 300 villas with complete concrete works and 2,500 apartments under construction.

Clients relish attractive payment plans of a 5% down payment and equal installments over eight years.

Last December, the company organized on-site visits for homeowners to follow up on the latest progress and the latest construction updates. Additionally, owners got to check finished mock-ups for villas and twin house units, to visualize the final form of their homes in “IL BOSCO.

In July 2019, MIP has signed a cooperation agreement with Stefano Boeri Architetti to integrate the brand new architectural design concept of vertical forests at IL BOSCO.