Reportage Egypt aims for $118M in sales by 2025

Post by: Omar Nasser

Reportage Egypt wants to make EGP 6 billion in sales in 2025, which is twice as much as last year. Eslam Hammam, the Regional Chief Commercial Officer at Reportage Properties, said the company made EGP 3 billion in sales from its big project, Montenapoleone, in East Cairo.

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Montenapoleone is a large housing project covering 465,000 square meters (111 feddans). It has 4,524 homes, including apartments and townhouses. A big part of the project, 62%, is kept for green spaces like gardens and parks.

The project is very popular. The first and second phases are already sold out. About 40% of the third phase is sold, and the fourth phase is not yet open for booking. Reportage Egypt has spent EGP 6 billion on this project and plans to give the first homes to buyers by the end of the year.

This project also has two shopping malls. The first mall, Via 1, will be ready in 2026, at the same time as the first homes. The second mall, Via 2, is not yet open for booking.

Reportage Egypt is also working on a new housing project in the North Coast with an Egyptian partner. This new project will have about 2,000 homes. The company is also looking for land in New Cairo, Sheikh Zayed, and 6th of October City for more projects.

The company follows a self-financed business model, which means it does not take loans for projects. Prices of houses in its projects will go up by 10%.

During Ramadan, Reportage Egypt made a special offer for Montenapoleone in Mostakbal City. Buyers could get two homes for the price of one under a "Buy One, Get One Free" deal.

Reportage Properties, the parent company, sold $1.5 billion worth of property in 2024. This year, it aims to reach $2 billion in sales. The company works in 16 countries, with the UAE as its biggest market, followed by Saudi Arabia, Turkey, and Egypt.

Reportage Properties owns assets worth around AED 50 billion. It has 50 projects in different countries. About 12 of these projects are in partnership with Mubadala, while others are in the UAE, Egypt, Turkey, Morocco, Saudi Arabia, and some African countries like Rwanda, Uganda, Nigeria, and Kenya. It also has projects in Azerbaijan.

So far, Reportage Properties has completed more than 10,000 homes and business spaces. Right now, it is building 25,000 more homes. The company has offices in Saudi Arabia, Turkey, Russia, and many other places in Africa, Europe, and Asia. It is also planning to expand into new countries by the end of the year.

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