UAE’s Reportage launches construction at New Cairo’s ‘Mostakbal City’
For Reportage, this is its first development outside of UAE, where it has 12 projects
Dubai: Another UAE developer is making a big push into Abu Dhabi, with Reportage Properties launching construction at the ‘Mostakbal City’ in New Cairo. The project, reportage’s first outside of the UAE, will be done in tandem with the Egyptian developer Al-Ahly Sabbour.
The Mostakbal City in New Cairo is next to the first phase of Egypt’s New Administrative Capital. It overlook some important landmarks and a road network near the Bin Zayed road and the Cairo-Suez Road.
The ‘Montenapoleone’ project will be built on 465,000 square meters and include 5,500 housing units. It features townhouses in addition to apartments. Units are expected to be handed over by the fourth quarter 2025. Reportage has multiple projects in Dubai and Abu Dhabi.
Recently, Abu Dhabi mega-developer bought a majority stake in Egypt’s SODIC along with ADQ. Recently, another Abu Dhabi property heavyweight, Alpha Dhabi, said it would consider Egypt for its planned investments.
Reportage’s sales last year from Dubai and Abu Dhabi were nearly Dh1.6 billion compared to Dh812 million for 2020.