By: Abdullah Bedeir

Cairo – Mubasher: Sales of the first phase of Vinci project reached EGP 1 billion, Mohamed Hany Al Assal, CEO of Misr Italia Properties, said.

Spanning an area of 110 feddans, the new project is located in the diplomatic high-end area of the new administrative capital.

The real estate developer will start executing the residential project by the end of the first quarter of 2019, Al Assal pointed out in a press conference.

The project will include different varieties of villas, twin houses, townhouses, in addition to luxurious apartments that range from one bedroom to four bedrooms.

The project's footprint totals to only 17% of the land leaving the remaining 83% to be developed into lush mesmerising greenery, a captivating entertainment sector, and vibrant commercial area.

Vinci is the second the company’s second real estate endeavor in the new administrative capital, following the launch of IL BOSCO, which was launched in 2017.

On the other hand, the company targets achieving sales of EGP 12 billion in the project.

The project is expected to be completed by 2022 with total investments of EGP 9 billion.

Translated by: Kholoud Mohamed Hussein