Reportage Egypt, subsidiary of Abu Dhabi-based private real estate company Reportage Group, announced on Monday the launch of its latest project, ‘Horya,' located in Sidi Heneish on the North Coast, with total investments exceeding 15 billion Egyptian pounds ($284.52 million).

Eslam Hammam, CEO of Reportage Egypt and Saudi Arabia, told Zawya Projects that the development spans approximately 65 acres and will include a range of villas and chalets, and swimmable lagoons covering more than 35,000 square metres (sqm).

He said the developer has secured the required ministerial approvals and plans to commence construction works during the current year.

Hammam didn't elaborate on the number of units or award timelines but said delivery of units is scheduled to begin within three years.

He said the investment reflects the company’s strategy to develop innovative and sustainable urban destinations while expanding its presence in Egypt’s real estate market.

The North Coast launch follows Reportage’s first Egyptian project, Montenapoleone in in Mostakbal City in New Cairo, which was launched in 2021.

The 111-acre residential development is currently preparing to deliver its first phase this year, according to the company.

(1 US Dollar = 52.72 Egyptian Pounds)

(Reporting by Eman Hamed; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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