Misr Italia Properties announced it targets achieving EGP 4.5 bn of sales in 2019, compared to EGP 3.5 bn sales achieved during the period from January to September 2018, Invest-Gate reports
Mohamed Hany Al Assal, co-CEO of Misr Italia, says that the company plans to invest EGP 2.3 bn in its projects next year, noting that the company has already pumped EGP 1.5 bn investments in the current year.
He reveals that the company will begin construction works of Kai Sahel in Ras El Hekma, North Coast within the first half of 2019, with total investments of EGP 5bn.
He elaborates that the government’s re-planning of the project’s area contributed to delaying its implementation, yet such re-planning provided additional benefits to the project.
“Kai Sahel, which includes a 5-star hotel, achieved sales worth EGP 1.5 bn since its launch,” he points out.