UAE-based developer Reportage Properties has revealed its first project outside its home market with the launch of Monte Napoleone in New Cairo, Egypt.
The project will be built in cooperation with local developer Al Ahly Sabbour and will include 5,500 apartments and townhouses.
Expected project sales are set to reach AED2.83 billion with units expected to be handed over from the end of the fourth quarter of 2025, a statement said.
Reportage Properties revealed that apartment prices will start from AED183,000, with special discounts of up to 40 percent on cash payments.
It is the latest project by Reportage Properties which is has 11 under construction, providing about 5,000 housing units within its most important investment sites in Abu Dhabi and Dubai.
The company said that since the start of 2021, its sales figures exceeded AED500 million, with a growth of more than 200 percent compared to the first four months of 2020.
Islam Ahmed Suleiman, CEO, said that the launch of the first 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.
Sulieman said expanding into the Egyptian market came after a thorough study of investment opportunities in the real estate sector.
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