ArabFinance: The UAE-based company, Reportage Properties, to launch its Montenapoleone real estate project in Mostakbal City, east Cairo, in partnership with Al Ahly Sabbour Developments with initial investments reach EGP 12 billion, the company announced in a statement.

Hanna Karam, Regional Head at Reportage Properties, said that the project will be built on 110 acres in Mostakbal city, adding that the company began its construction.

TIJ Contracting, one of the companies owned by the parent company Reportage Properties, carries out construction work, which supports the company's credibility with its clients.

Marketing Manager at Reportage Egypt Ahmed Nasser states that the company aims to achieve EGP 1.5 billion of sales in the project by the end of 2021, added that the company has recorded EGP 350 million in sales since the project launch until now.

Karam added that the company's plan is to invest in the Egyptian real estate market, by launching more than five projects in the next 10 years, in areas of Ain Sokhna, North Coast and the New Administrative Capital.

The real estate developer is also looking forward to more partnerships in the Egyptian market.

Karam notes that all the companys projects are self-financed, added that its shareholders' structure includes Aref Al Khouri and Ismail Al Khouri.

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