The real estate market is a cornerstone of any economy and affects a vast number of people through its movements. In 2024, the real estate sector continues to have promising long-term potential. Robust economic growth, expanding population, and government investment could all contribute to increasing demand for real estate.
Governments, corporates, and semi-government developers are investing in real estate projects throughout the region, particularly in Saudi Arabia, Egypt, and the UAE. These projects are giving a huge boost to the regional construction sector, which also has a positive outlook over the next few years.
Real estate sales transactions in the GCC between January and October 2023 reached $171.6 billion, up 21.1% year-on-year, according to a report by Kamco Invest. Dubai’s transactions increased by 57% during the same period, contributing 52.1% to the GCC’s total transacted value.
Forbes Middle East magazine has announced Mohamed Hany El Assal, Mohamed Khaled El Assal and Karim Khaled El Assal, the CEOs of Misr Italia Properties, among the list of the most influential real estate leaders in the Middle East for 2024. This selection stands as a testament to the unwavering efforts of Misr Italia Properties’ leadership in reinforcing the growth of Egypt’s real estate sector.
The magazine praised Misr Italia Properties for its diverse portfolio including residential, coastal, commercial and hospitality projects, with a total number of 25 projects spanning a land bank of 7.1 million square meters across Egypt, including 10 residential and coastal projects, 10 commercial projects, and 5 hotels, throughout a successful track record of 30 years.
Forbes highlighted Misr Italia Properties’ flagship projects, which have achieved remarkable success since their launch, including IL Bosco City in New Cairo, IL Bosco in the New Administrative Capital, Vinci in the New Capital, and La Nuova Vista, in addition to Solaré Ras El Hikma.
The three CEOs of Misr Italia Properties, Mohamed Hany El Assal, Mohamed Khaled El Assal and Karim Khaled El Assal, have been able to revamp the company’s strategy since assuming leadership responsibilities by launching real estate projects that introduce new concepts to keep pace with the evolving needs of our customers, developing marketing strategies to identify changing customers’ requirements. These efforts have resulted in consistent sales growth annually, positioning the company as one of the leaders in terms of sales growth over the past three years.
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