Misr Italia Real Estate Company signed an agreement with “Redcon Development” worth 1.3 billion pounds to assign contracting and construction work in the Solari Ras El Hekma project, which extends over a total area of 386 acres at kilometer 199 west of Alexandria.
This comes within the framework of the company's efforts to support the northwest coast development plan and increase the contribution of real estate activity to the national product.
This came in the presence of a number of leaders from Misr Italia Real Estate Company, headed by Khaled Al-Assal, Chairman of the Board of Directors (non-executive), Engineer Mohamed Khaled Al-Assal, CEO and Managing Director, and Karim Al-Assal, CEO and Managing Director. In addition to a number of leaders of Redcon Development Company, headed by Engineer Tariq Al-Jamal, Chairman of the Board of Directors of Redcon Development Company, Amal Abdel Wahed, Vice Chairman and CEO, and Ahmed Abdullah, Vice Chairman of the Board of Directors.
It includes the signing of an agreement between Misr Italia Real Estate Company and Redcon Development Company to assign contracting and construction works in the Solari Ras El Hekma project worth 1.3 billion pounds, provided that Redcon Development will complete the implementation of these works within 18 months of signing the agreement, within the framework of Misr Italia’s keenness on its cooperation. With the best partners in all fields to ensure providing the highest levels of quality to customers.
Achieving the state’s goals towards developing the northwest coast
Engineer Mohamed Khaled Al-Assal, CEO and Managing Director of Misr Italia Real Estate, said that the Solari project enjoys world-class quality and various facilities and services, most notably an Italian-style commercial area, and many entertainment services, including a “clubhouse” and sports facilities, in addition to two international hotels to increase the size of hotel capacity. In Egypt and providing an integrated experience to our customers through a distinctive real estate product that attracts Egyptians and tourists from different countries of the world, which achieves an increase in the country’s revenues from tourism. The Solari project has already achieved huge sales since its launch 11 months ago with a total investment of 54 billion pounds and has witnessed an increasing demand from customers. .
He added, “We are proud of our cooperation with Redcon Development Company, which confirms our commitment to cooperate with major entities to provide exceptional quality to our customers in all our projects. This partnership also reflects confidence in the company’s vision and commitment to excellence, which reflects positively on the Egyptian real estate sector and achieves the state’s goals towards developing the coast.” Northwest and increasing the contribution of real estate activity to the national product.
Read also: Swiss hotel brand Swissôtel launches two projects in Ras El Hekma
For his part, Engineer Tariq El-Gammal, Chairman of the Board of Directors of Redcon Development Group, said that we are pleased with our cooperation with a company the size of Egypt, Italy Real Estate, which shares the same vision with us, which aims to increase the contribution of real estate activity to the national product and provide projects of international quality to the Egyptian market.
He added, “We have a diverse portfolio of projects, including 11 projects on the North Coast,” adding that the real estate sector, especially the Ras El Hekma area, needs three times the number of contracting companies currently in Egypt to implement the new projects that are constantly announced.
Misr Italia sought the help of major international companies to develop the general plan for the “Solari” project and design the units, and contracted with EDSA, a leading American architectural firm that designed the project and its units, and Whitespace Architects, a Dutch company specializing in architectural design, to develop a design for the project that provides a unique Italian experience for those wishing to Accommodation and tourism.
The “Solari Ras El Hekma” project is characterized by a strategic location near the city of Ras El Hekma
It is worth noting that the “Solari Ras El Hekma” project has many unique advantages, starting with a strategic location near the main roads and axes, which makes it easily accessible, and close to the city of Ras El Hekma, and a 1,000-meter sandy beach to give residents enjoy the best international beaches, and the project is built with a terrace system. It reaches 7 levels, giving its units a panoramic view of the sea waters, with an area of up to 100,000 square meters, in addition to wide green spaces to enjoy the landscape and water.
Misr Italia Real Estate Company succeeded in achieving progress in construction work, as it completed the work of surveying and leveling the soil in the area facing the beach, and began preliminary leveling work for the front rows of the beach, exceeding 2 million cubic metres. The work of drilling two exploratory wells to withdraw and drain water at a depth of 80 and 120 meters was also completed. meters for foundation and construction work in the project, and the construction of a temporary road to facilitate traffic from the coastal road to the beach. The company intends to deliver the first units of the first phase within 4 years.
Misr Italia Real Estate Company has been considered one of the leading companies in the Egyptian real estate market for many years, as it is famous for providing prominent projects for residential, commercial, and coastal real estate throughout Egypt. The company also owns a portfolio of vast lands through 11 residential projects, nine commercial projects, and five luxury hotels. The company's project portfolio includes 7.1 million square meters, and Misr Italia's leading projects include Bosco, La Nuova Vista, Garden 8, Cairo Business Park in New Cairo, Kai Sokhna, and the Solari Ras El Hekma project on the North Coast.
