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UAE-based Reportage Properties has announced special Ramdan offers for its Montenapoleone project, its first outside the UAE, comprising 5,500 homes within the city of Mostakbar, New Cairo, Egypt.
The project, their first outside the UAE, was launched in the middle of last year and covers an area of 465,000 square meters, which will be developed in cooperation with Al Ahly Sabbour, Egypt’s leading real estate developer company.
Offers include fully finished units starting at 1.1 million Egyptian pounds ($59,883), with a 10 percent discount. There is also an installment payment plan where the investor has to make a 10% down payment followed by equal installments over 90 months.
Reportage Properties said it recently started work on Montenapoleone, which will be handed over in the fourth quarter of 2025.
Chief Executive Officer Islam Ahmed Suleiman said the launch of Montenapoleone reflects Reportage Properties’ strong financial position, the stability of our business model and our ability to expand. “We are very pleased with the offers that appear to be attractive to buyers,” he said.
Suleiman said that entering the Egyptian market reflects the company’s confidence in the country’s real estate industry. In addition to the attractive investment environment and safe and stable investment environment provided by Egypt, the industry has grown significantly in recent years and demand has risen.
He said that in the past few months, the company has received an overwhelming response from the majority of investors in the residential units of the Montenapoleone project, especially in light of the significant positive developments in the Egyptian real estate sector.
Montenapolene is distinguished by its strategic location in the city of Mostakbar, New Cairo, at the center of the urban development plan for the eastern part of Cairo, adjacent to the first phase of the new administrative capital.
It overlooks the most important landmarks and modern road network near Bin Zayed Road, Central Ring and Cairo-Suez Road.
Reportage Properties is developing 12 projects in the UAE, delivering around 6,000 homes in the most important investment locations in Abu Dhabi and Dubai, in addition to a completed and delivered project in Masdar City, Abu Dhabi.
Reportage Properties’ list of projects in Abu Dhabi includes ‘Al Raha Lofts 1’ providing 164 housing units and ‘Al Raha Lofts 2’ adding 110 housing units in the Al Raha beach area.
In Abu Dhabi’s Masdar City, the “Oasis Residence 1” project is under development, offering 612 apartments, “Oasis Residence 2” includes about 304 homes, and “The Gate” project adds 463 apartments. There is also the “Leonardo Residence”, delivered about two years ago, comprising 177 apartments in Masdar City.
On Al Maryah Island, Reportage is developing the Al Maryah Vista project, which will provide 786 housing units, alongside Al Maryah Vista 2, which will include 588 new housing units, and the Diva project on Yas Island, which will provide 736 housing unit units.-TradeArabia News Service
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