Abu Dhabi: Reportage Properties, the leading UAE real estate developer, revealed its second project outside the UAE, with the launch of the "Silvana" project in the Basaksehir district of Istanbul, Turkey.
The project extends over an area of 48,000 square meters, and provides 232 Italian style 3 floor townhouses, each includes 4 fully finished rooms.
Prices start from Dhs1.2million, with a special offer available that includes a 40% discount when paying cash, in addition to flexible payment plans enable buyers to pay 10% of the unit cost as a down payment, and 1% in monthly installments until hand over.
The project, which qualifies buyers to obtain Turkish citizenship, is expected to be handed over in 2026.
Islam Ahmed Suleiman, "Reportage Properties" CEO, said that the launch of their second projects outside the UAE, after launching the "Montenapoleone" project in "Mostakbal City" in New Cairo, Egypt, reflects the company's strong financial position and the stability of their business model, as well as the ability to implement many new projects in various regions.
Reportage Properties started construction works on the "Montenapoleone" project in Egypt during the first quarter of this year. The project, which will be built on an area of 465,000 square meters, is being developed in cooperation with Al-Ahly Sabbour Company, the leading real estate development company in Egypt. It will include 5,500 housing units, and the first phase will provide 1,309 apartments and townhouses. The project is expected to be handed over by the fourth quarter of 2025.
Suleiman stressed that the Silvana project is characterized by its strategic location near Istanbul tourist attractions, and features green landscape, various facilities and services .The units are characterized by high quality standards and creative design.
The CEO pointed to the great investor confidence in Reportage Properties, especially in light of the company's commitment to developing all their announced projects according to the specified time plans, which enhances the plans to continue launching more new projects.
Suleiman stressed that entering the Turkish market came after a study of the promising investment opportunities offered by the real estate sector in Turkey, and within the framework of the distinguished relations between the UAE and Turkey.
Non-oil trade between the UAE and Turkey amounted to about Dhs50.4bn during 2021, a growth of 54% compared to 2020, and the Emirati investments in Turkey amounted to more than Dhs18.3bn by the end of 2020, while the value of Turkish investments in the UAE amounted to Dhs1.1bn at the end of 2019.
Suleiman explained that "Reportage Properties" has a promising future plan for expansion and growth in the near future, pointing out that the company has benefited from the great experiences achieved over the past years through developing high quality projects in the UAE.
The "Reportage Properties" portfolio includes 18 projects, including 17 projects in the UAE, providing about 7 thousand housing units within the most important investment sites in Abu Dhabi and Dubai, in addition to the "Montenapoleone" project in Egypt.