Misr Italia Properties posts 67% increase in its profits during Q1 2022, Invest-Gate reports.

The company’s profits reached EGP 2.5 bn in Q1 2022, compared to EGP 1.5 bn in Q1 2021.

In Q1 2022, Misr Italia achieved 33% of its targeted sales announced in early 2022, which amounted to EGP 7.5 bn, as the company achieved large sales.

The company’s investments registered EGP 89 bn, injected in projects in the NAC, New Cairo, and Ain Sokhna.

Moreover, the average sales of “IL Bosco City” project in New Cairo amounted to EGP 744 mn in Q1 2022, exceeding its target sales.

The real estate developers’ sales in the NAC’s projects stood at EGP 1 bn.

Additionally, Misr Italia intends to inject EGP 3.5 bn in five projects. It is also studying an expansion plan in the North Coast and new areas in West Cairo, in addition to delivering 1,000 units in the NAC and Ain Sokhna in 2022.

It is noteworthy that Misr Italia highlights many partnerships with global entities especially in digital transformation and smart cities field to serve its customers and provide units that meet their needs.