Misr Italia Properties (MIP) signed a memorandum of understanding (MoU) with Schneider Electric on the sidelines of COP27 to implement state-of-the-art Smart City Technologies across its projects. The MoU is in line with MIP’s strategy toward digital transformation and sustainable development.
The cooperation aims to design and build smart cities with Schneider Electric’s expertise in utilizing Smart City concepts and solutions to manage and control infrastructural components including electricity, heating, ventilation, water, gas, data networks, data centers, traffic, and security, which will in return optimize energy and water consumption.
“In Misr Italia Properties, our clients’ quality of life comes at the forefront of our priorities, which is why we are always keen on enhancing our operations and incorporating best practices towards developing sustainably. Through our partnership with Schneider Electric, we aim to establish smart communities and contribute to Climate Change Strategy 2050 for a stronger and greener Egyptian economy, actuating COP27’s theme “Together for Implementation” and stemming from the company’s intention to take concrete steps towards digitalization and sustainability,” Mohamed Hany El-Assal, CEO and Managing Director of Misr Italia Properties, said.
MIP also signed an agreement with Future Clean Energy with an investment of 8 million Egyptian pounds to install solar panels in 3 commercial projects with a capacity of 400 kilowatt-hours.
“The cooperation between Misr Italia Properties and Schneider Electric extends for years during which Schneider provided smart solutions in MIP’s flagship commercial destination; Garden 8. Through our new cooperation agreement, we aim to apply the latest technology across the company’s projects to improve the quality of services provided to our customers while reducing the environmental impact and rationalizing energy consumption. “Mohamed Khaled Al-Assal, CEO and Managing Director of Misr Italia Properties, said.
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