Egypt’s real estate developer Misr Italia Properties has held a roundtable in the presence of its officials to reveal all details related to its second premium residential compound in the New Administrative Capital, Vinci, in the diplomatic district of the new capital’s first phase, following the “massive success” of its first project in the new smart city – IL BOSCO, Invest-Gate reports.
“Misr Italia Properties targets creating a utopian project immersing our unique clients into a world of luxury, beauty, and nature … The company seeks to enhance its real estate portfolio using state-of-the-art technologies in implementing trend-setting projects,” Mohamed Hany Al Assal, Co-CEO of the company, said in a released statement on November 26.
The 110-acre project’s initial investments are estimated at EGP 9 bn, while the land’s value stands at EGP 6.17 bn, according to the statement.
The project’s footprint makes up only 17% of the land, leaving the remaining 83% to be developed into lush mesmerizing greenery, a captivating entertainment sector, and vibrant commercial area, he stated, noting that the mixed-use compound comprises units with varying modules as well as one- to four-bedroom luxurious apartments.
“Built with cutting-edge technologies and unprecedented designs, Vinci will provide beautifully crafted designs and lavish livings to all its owners,” Al Assal highlights.
He explains that “Misr Italia Properties contracted with Hany Saad Innovations to design the architecture’s interiors and exteriors, embodying the essence of sophistication and customization. In addition, CalissonRTKL with the co-operation of DMA, developed the overall scheme of the project, implementing revolutionary concepts in line with internationally acknowledged standards and strategies.”
The property developer’s land bank stands at 6 mn square meters. The company also manages a huge portfolio of distinct residential, commercial, and administrative projects including Kai Sahel in North Coast, La Nuova Vista and Cairo Business Park in New Cairo, among others.