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UAE-headquartered real estate developer Reportage Properties will start construction of its 11-billion-Egyptian-pound ($700 million) Monte Napoleone project, located in Mostakbal City, East Cairo, by April 2022, the company's marketing manager said.
Ahmed Nasser told Zawya Projects that they are targeting 3 billion pounds ($191 million) in sales revenues in 2022.
In October 2021, Zawya Projects had reported that Reportage is planning to start construction of Monte Napoleone, the company's first residential project outside the UAE, in the first quarter of 2022.
Nasser said that the four-phase project would be completed in the fourth quarter of 2025.
He added that the company is negotiating to buy a plot in the North Coast for their next project but declined to elaborate.
(1 US Dollar = 15.71 Egyptian Pounds)
(Reporting by Eman Hamed; Editing by Anoop Menon)
(anoop.menon@lseg.com)
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