Reportage Properties, the leading real estate developer in the UAE, revealed its first project outside the UAE, with the launch of the “Monte Napoleone” in “Mostakbal City” in New Cairo, Egypt. The project will be developed in cooperation with Al Ahly Sabbour, a leading real estate developer in Egypt.

“Montenapoleone” which include 5,500 housing units, will be built on an area of ​​465,000 square meters. The project also provides an innovative fully-finished townhouses, in addition to apartments with distinct areas, starting from one to 4 bedrooms.

Reportage Properties revealed that ownership of apartments and duplex flats in the project are available at prices starting from Dhs183,000, with special discounts of up to 40% on cash payments. Offers include fully-finished apartments and townhouses in the project.

Reportage Properties is also developing 11 projects under construction, providing up to 5,000 housing units in sites in Abu Dhabi and Dubai.

The company’s sales during the first quarter of this year amounted to about Dhs369mn, compared to Dhs132mn during the first quarter of 2020, with an increase of 180 percent.

Islam Ahmed Suleiman, CEO, said that the launch of the first “Reportage Properties” project outside the UAE reflects the company’s strong financial position, the stability of its business model, and its ability to expand and develop many new projects in various regions. He also confirmed the company’s ambitious future plans of growth and expansion in new regions through the next few years.

Sulieman noted that expanding to the Egyptian market came after a thorough study of the distinguished investment opportunities in the real estate sector in Egypt, which showed remarkable growth pointers and a rise in demand in recent years, in addition to the safe and stable investment environment that Egypt provides, added to many investors’ incentives.

 

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