Egypt’s Misr Italia Properties (MIP) will invest 170 million Egyptian pounds ($9 million) into state-of-the-art smart tech systems in residential and commercial projects. The statement was made by the company CEO and Managing Director.
Mohamed Hany El-Assal stated that the company is investing more 70 million pounds ($3.7 million) to develop the technological infrastructure for Cairo Business Park and over 100 million pounds ($5.3 million) for IL Bosco City, both located in New Cairo Egypt.
El-Assal said MIP is also implementing smart technologies at its 18-billion-pound ($950 million) IL Bosco project in New Administrative Capital (NAC).
Misr Italia Properties is working with several international companies one of which is HoneyWell which will deploy pilot projects that enable smart living. These include city surveillance systems, sustainable and energy efficient technologies as well as water management and smart parking in MIP’s projects.
MIP has also signed partnership pacts with major telecom operators in Egypt, namely Telecom Egypt WE, Etisalat Misr and Orange Egypt to facilitate the implementation of smart systems.
“These partnerships aim to bring state-of-the-art technologies to MIP and support our digital transformation journey through the development of smart living projects and realise Egypt Vision 2030 and the UN sustainable development projects through smart city applications,” added Mohamed Khaled El-Assal, CEO and Managing director of MIP.
