Cairo – Mubasher: TIJ Contracting will start construction works on the Montenapoleone project, owned by Reportage Properties, in April with total investments of EGP 12 billion.

Montenapoleone will be established over 111 acres in Mostakbal City in East Cairo in partnership with Al Ahly Sabbour Developments, the Regional Head at Reportage Properties, Hanna Karam, said in a statement on Thursday. 

The integrated urban project is scheduled to be delivered by 2025, Karam added. 

TIJ Contracting, one of the subsidiaries of the parent Emirates Reportage Properties, has implemented construction works for more than 11 projects in the UAE, namely, Alexis Tower, Rukan Lofts 1, Rukan Tower, Rukan Lofts 2, The Oberoi, Tamouh Tower, The Gate, Al Raha Lofts, Oasis One, Al Maryah Vista, and Leonardo Residence with total investments of AED 805.9 million.

On a side note, Karam expected price hikes of 10% to 15% in the real estate market in 2022 due to increases in the price of building materials as well as the global inflation wave.