Reportage Egypt targets $118mln in sales for 2025
Egypt - Reportage Egypt aims to achieve EGP 6bn in sales in 2025, doubling its success from the previous year, according to Eslam Hammam, Regional Chief Commercial Officer at Reportage Properties. The company recorded EGP 3bn in sales from its flagship project, Montenapoleone, in East Cairo.
Spanning 465,000 square meters (111 feddans), Montenapoleone consists of 4,524 residential units, including apartments and townhouses, with 62% of the area dedicated to green spaces. Reportage Egypt has successfully sold out the first and second phases of the development and has already secured buyers for 40% of the third phase, while the fourth phase is yet to be launched. The company has invested EGP 6bn in the project and plans to deliver its first phase by the end of this year.
In addition to residential units, Montenapoleone features a commercial component with two malls. The first, Via 1, is scheduled for delivery in 2026, coinciding with the handover of the first residential phase. However, Via 2 Mall has not yet been launched.
Reportage Egypt is also expanding its footprint with a new project on the North Coast, developed in partnership with an Egyptian company, comprising approximately 2,000 units. The company is actively exploring land acquisition opportunities in key locations such as New Cairo, Sheikh Zayed, and 6th of October City. It plans to implement a natural price increase of 10% across its projects while maintaining a self-financed business model.
During the holy month of Ramadan, Reportage Properties launched an exclusive promotional offer for Montenapoleone in Mostakbal City, allowing customers to acquire two residential units for the price of one through a 'Buy One, Get One Free' deal.
Hammam revealed that Reportage Properties achieved $1.5bn in sales in 2024 and aims to reach $2bn this year across its projects in 16 countries. The UAE remains the company's strongest market, followed by Saudi Arabia, Turkey, and Egypt.
The company holds assets worth approximately AED 50bn and manages an investment portfolio of 50 projects. Of these, around 12 projects are in partnership with Mubadala, while the rest are spread across the UAE, Egypt, Turkey, Morocco, Saudi Arabia, and various African markets, including Rwanda, Uganda, Nigeria, and Kenya, as well as Azerbaijan in Asia.
Hammam added that Reportage Properties has already delivered over 10,000 residential and mixed-use units, with an additional 25,000 currently under construction. The UAE-based real estate developer, which has projects and offices in Saudi Arabia, Turkey, Russia, and multiple countries across Africa, Europe, and Asia, continues to expand its global presence and plans to enter new markets by the end of the year.
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