Misr Italia Properties and ASASS Construction sign a new partnership agreement
- As part of the company’s EGP 2 billion construction plan
- The partnership aims to accelerate the delivery of high-quality projects and meet customer requirements while meeting delivery deadlines.
Cairo, Egypt – Misr Italia Properties (MIP), one of Egypt’s leading property developers, has announced its collaboration with ASASS Construction, one of the largest construction companies in Egypt, to ensure the delivery of the new phases of IL BOSCO New Capital and IL BOSCO City New Projects of Cairo according to the agreed contractual delivery dates. This is in line with MIP’s strategy of collaborating with trusted partners to ensure the highest levels of quality across all of its projects.
The announcement of this strategic partnership took place during a signing ceremony in the presence of Eng. Mohamed Hani El-Assal, CEO and Managing Director of Misr Italia Properties; Eng. Mohamed Khaled El-Assal, CEO and Managing Director of Misr Italia Properties; Eng. Ziad El-Hares Managing Director of ASASS Construction; and eng. Islam Onsy Managing Director of ASASS Construction. Under the partnership, ASASS will be responsible for the construction works of the first phase of IL BOSCO City, New Cairo as well as the buildings of the first phase and the villas of phases two and three of IL BOSCO, New Capital.
Mohamed Hany El Assal, CEO and Managing Director of MIP, commented on the new partnership saying: “Our partnership with ASASS Construction is part of Misr Italia’s strategy to partner with large, credible entities capable of transforming the designs of its various projects into a tangible project. reality, thus meeting the needs and aspirations of customers; the highest quality and according to global standards. At the same time, adhering to company-announced delivery schedules, stemming from our focus on accelerating implementation rates and meeting agreed delivery dates. »
General Manager of ASASS Construction, Eng. Islam Onsy, said that the partnership with Misr Italia Properties is seen as a new added achievement for ASASS’ achievements in the field of construction. In particular, Misr Italia Properties is one of the most prestigious leading companies in the field of real estate development in Egypt and it constantly strives for a high level of quality of service that is provided to its clients in various projects. Eng. Islam also pointed out that Misr Italia was able to prove its financial, technical and human capabilities which brought a valuable addition and significant diversity to the Egyptian real estate market.
Misr Italia Properties has made considerable efforts to successfully complete 100% of the villas of the first phase of the IL Bosco project in the administrative capital before the agreed date. The company has also completed 80% of the villas of the second phase, in addition to having completed 77% of the concrete works of the first phase and more than 50% of the concrete works of the second and third phases of the buildings of the same project. . , which is designed by Callison RKTL and DMA to ensure maximum comfort in a healthy environment with special attention to outdoor spaces and greenery.
Located in the heart of New Cairo, IL Bosco City is also seeing significant progress with the start of soil treatment and foundation works for the first phase of the project in which MIP plans to invest EGP 800 million this year, strengthening the promise of over-delivery in 2024. Through this project, MIP aims to offer a better quality of life to its customers, collaborating with Callison RTKL and DMA to implement the project designs, and the famous Italian architect Stefano Boeri, for the landscape design and the use of green spaces and open spaces, in addition to the concept of the city in 15 minutes, which brings all the necessities of life within a maximum proximity of 15 minutes from the inhabitants of the city
It is worth mentioning that Misr Italia Properties is always eager to collaborate with the largest entities specialized in their fields, from contracting and project management to smart and technological solutions, with the aim of providing integrated smart cities to across the company’s diversified portfolio.
About Misr Italia properties:
Misr Italia Holding has been at the forefront of developing Egypt’s premier real estate market for years. It is known for delivering prime projects for residential, commercial, coastal and hotel properties across Egypt. The company’s land bank spans across Egypt with 11 residential projects, nine commercial projects, five luxury hotels and 6,000 units delivered. Flagship projects include IL BOSCO, VINCI & VINCI Street in the New Administrative Capital, IL BOSCO City La Nuova Vista, Garden 8, Cairo Business Park and Hilton Garden Inn in New Cairo, Kai Sokhna.
About ASASS Construction Company:
ASASS was established in 2011 as a general contracting company focused on turnkey projects in various sectors, from residential to administrative and commercial. ASASS has a proven track record of achievement in Egypt and the GCC with plans to expand across Africa. Capitalizing on their experienced project management team, they are able to beat market benchmarks in terms of both delivery times and quality control.