Arab Finance: Misr Italia Properties has fully acquired Misr Italia Holding for Financial Investments and subsidiaries by Khaled El Assal, Mohamed Khaled El Assal, and Karim Khaled El Assal, according to a statement.
Following the successful transaction, the company unveiled EGP 8 billion in new investment plans this year to accelerate construction across its diverse portfolio and drive expansion in the Egyptian market.
It is noteworthy that Misr Italia Properties intends to develop and open 21 hotels by 2032, with a total of 3,214 rooms, in partnership with international hospitality brands.
This plan includes brands already operating in the Egyptian market as well as others entering the country for the first time. The planned expansion is expected to generate around 6,000 job opportunities.