ع
Khaled El Assal, Mohamed Khaled El Assal and Karim Khaled El Assal have taken full control of Misr Italia Holding for Financial Investments after purchasing the 49.9 percent stake previously held by Hany El Assal and his family. In return Hany El Assal assumed complete ownership of Mousa Coast Tourism Development, which operates the Mousa Coast Resort in Ras Sedr and Oyoun Mousa. EnterpriseAM reported the development in its Changing hands section, noting that the EGP 1.42 billion transaction formally unwound the brothers’ joint holdings and ended a prolonged shareholder disagreement that had stretched for several years.
The deal was facilitated through the Investor Dispute Settlement Center at the General Authority for Investment and Free Zones, with Investment Minister Mohamed Farid witnessing the initial settlement agreement in April. Payment for the stake consisted of EGP 100 million in cash, EGP 475 million in deferred checks and EGP 736.1 million in real estate units, according to sources cited by Asharq Business. Legal counsel came from Matouk Bassiouny & Hennawy and Dr. Hani Sarie-Eldin while EFG Hermes managed the share transfer process after regulatory approvals.
Misr Italia Holding oversees a portfolio of residential, commercial, hospitality and coastal projects spread across more than 6 million square meters with investments surpassing EGP 100 billion, the company said in a statement. Among its flagship developments are Il Bosco, Vinci and Cairo Business Park in New Cairo, Kai Sokhna on the Red Sea, Solare in Ras El Hekma, and several projects in the New Administrative Capital and Mostakbal City. The holding company operates through five subsidiaries focused on real estate investment, construction, urban development and tourism.
Following the ownership consolidation the company announced plans to inject EGP 8 billion during 2026 to accelerate construction schedules and meet delivery commitments across its existing projects. It also intends to develop and open 21 hotels totaling 3,214 rooms by 2032 through partnerships with international hospitality brands, Zawya reported. The hospitality expansion is projected to generate around 6,000 new job opportunities in the coming years.
The transaction allows the Khaled El Assal side of the family to pursue a more integrated growth strategy with clearer decision-making authority at the developer. Hany El Assal has indicated that his side will focus on expanding a separate portfolio that now includes Mousa Coast and additional entities acquired in the settlement. Both parties completed all related exit procedures from the counterpart companies in parallel with the main transfer.
Egypt’s real estate market has witnessed multiple family-led ownership restructurings in recent years as developers adapt to economic conditions and seek operational efficiency. The use of the government-backed dispute settlement center in this case highlights a mechanism that authorities say helps preserve investor confidence and accelerate resolutions without prolonged litigation. The company indicated that the new structure positions it for stronger institutional performance and market expansion in the period ahead.
