Reportage Properties announces that its sales hiked 110% YoY by the end of July 2021, Invest-Gate reports.
Hanna Karam, regional head at Reportage Egypt, states that the company organized a sales day last week in Dubai, during which it registered sales of AED 16mn. Total sales recorded AED 900 mn by the end of July 2021, compared to AED 424mn in the same period of 2020.
He adds that the company has witnessed a strong demand on its projects, foremost of which are the Rukan Lofts project in Dubai and the Montenapoleone project in Mostakbal City in east Cairo.
Recently, the real estate developer launched its first project in Egypt named “Montenapoleone” in Mostakbal City in New Cairo. The project is being developed in cooperation with Al Ahly – Sabbour Developments. The project is set to be built on a total area of 465,000 sqm and comprises 5,500 housing units, besides, state-of-the-art fully finished townhouse including kitchen and dressing room.
The project comprises apartments with distinct spaces ranging from one to four rooms, at the highest levels of luxurious finishing, with expected sales estimated at EGP 12bn. Montenapoleone is scheduled to be delivered in Q4 2025.
“Entering the Egyptian market came after a thorough study of distinguished investment opportunities in real estate sector in Egypt, which is witnessing a remarkable growth and high demand in recent years, in addition to, safe and stable investment environment that Egypt provides with many incentives for investors,” Karam concludes.