Misr Italia Holding for Financial Investments and its subsidiaries announced that Mr. Khaled El Assal, Eng. Mohamed Khaled El Assal and Mr. Karim Khaled El Assal have completed the 100% acquisition of the company’s shares. The company comprises a number of subsidiaries, namely: Misr Italia Real Estate Investment, Misr Italia Construction and Development, Misr Italia Urban Development, Misr Italia Red Sea Touristic Projects, and Middle East Ras El Hekma for Touristic Investment.
These entities encompass a diversified portfolio of residential, commercial, hospitality, and coastal projects spanning 6 million square meters, with total investments exceeding EGP 100 billion. The portfolio includes Garden 8, La Nuova Vista, and Cairo Business Park in New Cairo ; Kai Sokhna on the Red Sea ; Solare in Ras El Hekma ; Il Bosco, Vinci, and Vinci Street in the New Administrative Capital ; and Il Bosco City in Mostakbal City. This transaction paves the way for a new phase of growth, underpinned by a more integrated and clearly defined strategy, while strengthening the company’s ability to expand and enhance its institutional efficiency in the period ahead.
All procedures relating to the exit of Mr. Hany El Assal, Eng. Mohamed Hany El Assal, Mrs. Salma Hany El Assal, and Mrs. Hend Hany El Assal from Misr Italia Holding have been completed. In parallel, all procedures relating to the exit of Mr. Khaled El Assal, Eng. Mohamed Khaled El Assal , and Mr. Karim Khaled El Assal from Mousa Coast Touristic Development, which owns Mousa Coast Resort in Ras Sedr, Oyoun Mousa, have also been completed.
Mr. Khaled El Assal, Eng. Mohamed Khaled El Assal, and Mr. Karim Khaled El Assal stated that this acquisition reflects their strong confidence in the resilience of the Egyptian real estate market and its promising potential. They noted that the transaction secures long-term stability while reinforcing their commitment to delivering distinguished projects that contribute to the advancement of the Egyptian economy and improve the quality of life within their developments. They added that this step further consolidates the company’s position as a leading player in the market and lays the foundation for strategic growth through expansion across residential and commercial projects, alongside expansion into the hospitality sector, thereby enhancing the diversity of its business portfolio.
As a first step toward maximizing the impact of this acquisition, the company announced an investment budget of EGP 8 billion for the current year, aimed at accelerating project execution, meeting existing commitments, and supporting the company’s plans for the next phase. Misr Italia Properties is also advancing the development of its operating model by adopting advanced digital solutions and enhancing operational efficiency, thereby improving the customer experience and strengthening the company’s ability to deliver its projects in line with the highest standards of quality and efficiency. The acquisition transaction was completed with the participation of Matouk Bassiouny & Hennawy, Dr. Hani Sarie-Eldin, and EFG Hermes.
