Misr Italia Properties announced the attainment of the ministerial decree for its Solaré Ras El Hikma project, located on the North Coast.
The decree was issued five months after submitting the project plans, and three months after the launch of its first phase.
In an impressive feat, the first phase of the project was entirely sold out within hours of its launch, with sales reaching EGP 2.4 billion for 320 units. The overwhelming demand serves as a testament to the project’s success and demonstrates the trust and confidence that customers have placed in Misr Italia Properties. With the remarkably swift approval and issuance of the ministerial decree, the company has accomplished an incredible achievement that demonstrates its credibility and innovative ambitions for Solaré Ras El Hikma project. With construction set to commence this month, unit deliveries will start in 2027.
The project comes in line with the strategy of Misr Italia Properties to diversify its portfolio of projects to cater to the evolving needs of customers by developing state-of-the-art projects based on distinctive concepts. Furthermore, Solaré Ras El Hikma project contributes to the government’s efforts to accelerate the development of the northwest coast region and provide new job opportunities to secure sustainable development.
The company aims to provide unique value for its projects in various regions across Egypt, particularly since Misr Italia Properties consistently achieves growth rates and continuously adds to its land portfolio spanning 7.1 million square meters. Strategically situated at Km 199, Solaré Ras El Hikma offers an exceptional Italian experience spanning 389 acres and boasting a one-kilometer sandy beach.
Comprising multiple levels of varying heights, the project offers an array of meticulously designed units with 70% of the project units being villas and 30% chalets. Residents will have the privilege of uninterrupted views of the Mediterranean Sea, lagoons, water bodies, and a collection of swimming lagoons spanning 100,000 square meters.
The project will also feature two hotels, a commercial hub inspired by Italian design, and a clubhouse that incubates an urban beach, in addition to areas for various sports activities. In order to ensure the exceptional quality and concept design of the project, Misr Italia Properties partnered with EDSA, a leading American architectural firm that developed the master plan, and White Space Architects, a renowned Dutch company for the architectural design.
About Misr Italia Properties Misr Italia Holding has been at the vanguard of developing Egypt’s leading real estate market for years. It is known for providing paramount projects for residential, commercial, coastal, and hospitality properties across Egypt. The company’s land bank, of 7.1M squared meters, stretches across Egypt with 25 residential, commercial and hospitality projects. Flagship projects include IL Bosco, Vinci & Vinci Street in the New Administrative Capital, La Nuova Vista, IL Bosco City, Garden 8 and Cairo Business Park in New Cairo, Kai Sokhna in the Red Sea, and most recently, Solare Ras El Hekma in the North Coast.
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