Cairo-based Misr Italia Properties on Sunday announced it has begun the construction work of VINCI boutique residential project in 2019 with EGP 500 million in investments.
The Egyptian property developer has sealed a deal with three contracting companies to carry out the construction activities of VINCI project, according to a press release.
The company aims to deliver the units of VINCI, its second project in the New Administrative Capital, ahead of the scheduled plan in 2022, Misr Italia highlighted.
Mohamed Hany Al Assal, Misr Italia Properties Co-CEO, said: “Misr Italia Properties pursues achieving a leap in the real-estate sector as well as taking distinctive steps in developing its 2nd project in the Administrative Capital.”
Furthermore, Al Assal noted that the company seeks to offer the best customer experience by accelerating the delivery process of the project.
He also revealed that VINCI enables its customers to customise the exterior designs for their upscale residential units in collaboration with Hany Saad Innovations (HIS) to guarantee the best luxurious offers.
The real estate firm plans to set subtle architecture standards in the New Administrative Capital, he said, pointing out that HIS has been chosen for the exterior and interior architectural designs to exceed the expectations of clients in VINICI.
VINCI features villas, town and twin houses, and unique apartments with 1 to 4 bedrooms, Al Assal highlighted.
The project has a built-up area of only 17%, while the remaining space of 83% is dedicated for garden landscapes and a huge retail area for commercial and entertainment purposes, he added.
Additionally, VINCI features a boutique residential compound spanning 110 feddans in the diplomatic area of the new capital.
“Misr Italia Properties launched VINCI Street an integrated service area incorporating premium retail spaces, entertainment areas, and clinics with 0% down payment and up to six-year payment plans,” according to the release.
The company has a real estate land portfolio of up to 6 million square metres and manages a remarkable portfolio of projects including Kai Sokhna with total investments of EGP 1 billion.
Kai Sokhna has a five-star hotel managed by Hilton Worldwide, as well as a boutique residential resort.
The company’s project portfolio also includes the new fully integrated business hub Cairo Business Park, the residential project La Nuova Vista with 131 villas, and the “full fledge recreational hub” Garden 8 in New Cairo with investments worth a combined EGP 800 million.
Moreover, the company has allocated EGP 16 billion in investments for its first project in the new capital, IL Bosco.
Misr Italia is expected to launch IL Bosco City in Mostakbal City very soon, the release noted.