The UAE’s Reportage Properties succeeded in recording sales of EGP 6.4bn in its projects in 2021, which reflects strong performance and flexibility in dealing with global changes resulting from the COVID-19 crisis.
Hanna Karam, regional head at Reportage Properties said that the company owns a portfolio of projects in various markets focused in the UAE, and is heading to Egypt through the Montenapoleone project in Mostakbal City, east Cairo.
Karam noted that achieving this volume of sales is a new achievement to be added to the company, explained that achieving this amount of sales reflects strong purchasing power and success in providing a real estate product commensurate with customers’ purchasing power.
He further pointed out that the company has a basic plan and plan B to deal with market changes resulting from economic developments because of the COVID-19 crisis.
He explained that the company’s sales plan runs in parallel with an executive plan in its various projects, in order to maintain its credibility and customers confidence as well as to adhere to specified delivery dates, especially with the company’s strong financial solvency that enables it to rely on self-financing strategy for its projects.
He pointed out that the company is developing 12 projects under construction in the UAE, to provide about 6,000 housing units within the most important investment sites in Abu Dhabi and Dubai, in addition to a project that has been completed and delivered in Masdar City. In addition to, Montenapoleone development in Mostakbal City, which is being developed in partnership with Al Ahly Sabbour Developments.
Montenapoleone is an integrated urban project spanning over 111 acres in Mostakbal City and it is scheduled to be delivered by 2025.
The company has a strategy and timetable for development according to dates set with customers. Accordingly, the company plans to develop an integrated project commensurate with the company’s previous work in the UAE and the Egyptian partner Al Ahly Sabbour Developments as well as the Mostakbal City project as one of the distinctive projects located in the east Cairo area, Karam elaborated.
