UAE’s Reportage Properties intends to launch Montenapolene project in Mostakbal City, east Cairo, in partnership with Al Ahly – Sabbour Developments in the coming period.
Regional Head at Reportage Properties Hanna Karam said that the company has signed a development agreement with Al Ahly – Sabbour Developments to develop a real estate project in partnership system in Mostaqbal City, with expected sales worth EGP 12bn.
Karam added that the project is set to be built on a total area of 110 acres and features a wide range of fully finished residential units, including apartments, villas, and duplexes supplied with kitchen and dressing room for the first time in Mostakbal City.
Karam noted that Reportage Properties is one of the largest developers of towers and residential projects in the UAE and has a distinguished work experience and record in Abu Dhabi and Dubai.
He further pointed out that the company aims to provide innovative housing solutions in Montenapolene project at affordable and competitive prices.
Reportage Properties has started initial reservation in the project and is scheduled to be officially launched soon, provided that the project will be launched in 4 sales phases, he disclosed, added that the company plans to begin constructions on the project within 8 months. Furthermore, it is scheduled to deliver the project in the last quarter of 2025.
“Additionally, Reportage Properties has a strong expansion plan outside the UAE in a number of international markets, foremost of which is Egyptian market because of its attractive competitive advantages, ”he said.” Egypt is witnessing comprehensive and strong urban development during the current period, taking place across the country and includes many attractive investment opportunities for foreign private sector, in addition to an attractive investment climate for foreign investors.”
Regional Head at Reportage Properties explained that there is a major gap between supply and demand in Egyptian real estate market makes the country an attractive destination for property investors. Moreover, strong and real demand that needs to be met, is one of attracting factors for foreign investment.
He stressed that Egypt is a first destination for Emirati investors due to joint and strong political and economic relations between the two countries.
Reportage is one of the largest private real estate development companies in the UAE with 20 years of experience and is developing many real estate projects in Abu Dhabi and Dubai. The company aims to provide innovative and modern solutions for properties in the UAE and Egypt at competitive prices.