Egypt’s real estate developer Misr Italia Properties is planning to start implementing two projects worth EGP 24 bn this year, Zawya reports.

The two projects are the mixed-use il Bosco project in the New Administrative Capital and the Kai North Coast hospitality project in Ras El-Hikma area.

The EGP 22 bn il Bosco project will include apartments and villas, a mall, an international school, a theatre and sport complexes, over an area of 310 acres.

It will also comprise 10 eco-friendly towers surrounded by trees and with no need for air-conditioning to save energy.

Chairman Hany El-Assal told Thomson Reuters Foundation said the developer is awaiting clearance from the Ministry of Housing. The project is scheduled for completion in four years.

Meanwhile, the EGP 2 bn Kai North Coast project will comprise 50 chalets and villas, a club house, a mall, as well as a 200-room five-star hotel to be managed by Hilton Worldwide.

The company is currently finalizing the procedures and licenses to start implementation of the project, which will be completed within three years.

Misr Italia Properties started the implementation of another 160-room hotel in Kai Sokhna project last February.  The hotel will be managed by Hilton Worldwide.

The Kai Sukhna project is scheduled to be completed by 2021.