Misr Italia Properties (MIP) participates in the United Nations Global Compact Network Egypt (UNGCNE) and DCarbon’s inclusive coalition that coordinates and gears the real estate and construction ecosystem across its value chain towards a sustainable effort to “Build for Better Lives”.

The initiative aims to unite, coordinate, and guide actions of all stakeholders across the built environment value chain towards ensuring the well-being of people and the planet through the construction and real-estate sector practices in Egypt. It showcases and advocates success stories that include best practices, and international benchmarks, builds partnerships, and exchanges experiences among the initiative partners. 

The signing took place on the sidelines of COP27, before the signing, the UNGCNE & DCarbon hosted a panel discussing the initiative, its goals, and what it aspires to achieve.

“By making this declaration, MIP, among other founding partners from real estate developers and construction firms, pledges its commitment and dedication to adopting sustainable practices and enhancing already existing ones towards developing sustainable and ethical projects. Here, competition transforms into collaboration for a more ambitious aim and a bigger purpose” Mohamed Hany El Assal, CEO & Managing Director at Misr Italia Properties.

“In efforts to advance sustainability and combat climate change, MIP has been integrating sustainability starting from the design phase, like we did in developing the first Vertical Forest in the Middle East and Africa (inside IL Bosco – New Capital) and the first 15 Min City (IL Bosco City – New Cairo) in Egypt. By collaborating with UNGCNE and DCarbon, MIP supports both entities’ objectives to hasten and scale the private sector’s influence in order to advance the goals for sustainable development across the region”. Mohamed Khaled El Assal, CEO & Managing Director at Misr Italia Properties, said to WAYA.  

It is worth mentioning that the currently being developed “Vertical Forest” will be able to produce 8 tons of oxygen and absorb 7 tons of carbon dioxide yearly, significantly reducing pollution and reducing the effects of climate change.