Al Ahly Sabbour, Reportage Properties to develop Montenapolene
Al Ahly Sabbour and the UAE’s Reportage Properties signed an agreement to develop Montenapolene project in Mostakbal City, according to the company’s press release.
The signing ceremony saw the attendance of Al Ahly Sabbour's Investment Department chief executive Dr. Tamer Erfan, Regional Manager of UAE-based Reportage Eng. Mostafa Askalani on behalf of head of Reportage Properties Mr. Aref Khori, and Al Ahly Sabbour's chief executive Ahmed Sabbour.
Spread over 465,000 square meters, the project is expected to generate EGP 12 billion in revenues.
Montenapolene, located in New Cairo, will feature 5,500 residential units.
Al Ahly Sabbour’s projects in Mostakbal City have been seeing tremendous progress; apart from the launch of Rare, which will be developed over two phases, construction for neighbouring projects The Ridge, Alaire, and Alaire Park, is moving according to schedule.
Al Ahly Sabbour has a long-proven track record in the market as a leading real estate developer over the course of over 25 years.
The company has successfully developed 62 major projects in diverse fields including residential, retail, office buildings, touristic, social and sports clubs in prime areas in Egypt on over 12 million square meters.
Reportage Properties started its first project in 2014 in Abu Dhabi at Reportage Group. It hassubsequently grown in structure, size and number of projects.
Reportage isone the largest private developers in the United Arab Emirates, with several projects under construction in both Abu Dhabiand Dubai, and the company's first project LeonardoResidences, successfully handed over in 2018.
