*The Project to add 736 new housing units in their Abu Dhabi portfolio
Reportage Properties, the leading real estate developer in the UAE, announced starting construction works on their “Diva” project, being developing on Yas Island in Abu Dhabi. The project is planned to be finished and handed over by the last quarter of 2024.
The “Diva” project provides 736 new housing units, with prices starting at Dhs510.000.
Reportage Properties is developing 12 projects in the UAE, providing 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 handed over in Masdar City in Abu Dhabi.
Islam Ahmed Suleiman, CEO, said that the company started construction works on the “Diva” project about two months ago. It is scheduled to be finished according to the time plan, as part of their continuous commitment to complete works in all projects and hand them over on time.
He stressed that Reportage Properties commitment to implementing projects and continuing construction works during the last period, despite the challenges associated with the repercussions of the pandemic, enhanced investors confidence in the company’s projects, which was reflected in their strong sales last year and this year also.
Reportage Properties sales exceeded Dhs812mn during 2020, a growth ratio of 125 percent compared to 2019, when sales reached Dhs362mn.
Their sales topped one billion dirhams from the beginning of the year 2021 until the end of last August, compared to Dhs488mn during the first eight months of 2020, with a growth ratio of about 105%.
Suleiman stressed that the “Diva” project is in high demand, in light of its various advantages, especially in terms of the distinguished location on Yas Island, which includes many facilities and various recreational and tourism services such as Ferrari World Abu Dhabi, Yas Waterworld, and Warner Brothers. The island is today one of the most sought after tourist attractions and entertainment in Abu Dhabi.
The “Diva” project have various facilities, including a swimming pool, a gym, dedicated parking, a barbecue , a children’s play , an area for pets, a giant chess stage, an outdoor area for playing table tennis, seating landscape, and green spaces. Suleiman stressed that the real estate market in Abu Dhabi is robust with remarkable activity in regard to the demand for buying real estate, especially with the successive initiatives and measures stimulating the national economy, as well as the launch of “50 Projects” initiative, which contribute to boosting the recovery from the repercussions of the “Covid-19” pandemic.
Reportage Properties have recently made a special offer on 4 projects under construction in Abu Dhabi, which includes a 5% discount, with only 1% paid until handing over, and without down payment.
The four projects are The Gate, which is being developed in Masdar City, Al Maryah Vista 1 and Al Maryah Vista 2 ,on Al Maryah Island, in addition to the Diva project on Yas Island.
Suleiman indicated that Reportage Properties are keen to make more attractive offers on all of their projects.
The list of Reportage Properties projects in Abu Dhabi includes “Al Raha Lofts 1”, which provides 164 housing units, and “Al Raha Lofts 2”, which adds 110 housing units, within the Al Raha Beach area.
In Masdar City , the “Oasis Residence 1” is under development and provides 612 apartments, and “Oasis Residence 2” includes about 304 housing units, as well as the “The Gate” , which adds 463 apartments. The “Leonardo Residence” project, which was delivered about two years ago, includes 177 apartments.
On Al Maryah Island, Reportage Properties is developing the Al Maryah Vista project, which provides 786 housing units, next to Al Maryah Vista 2, which will include 588 new housing units, as well as the Diva project on Yas Island, which will provide 736 housing units.
In Dubai, the “Alexis Tower” is being developed on Sheikh Zayed Road in the Downtown Jebel Ali area of Dubai, and provides 378 luxury housing units, while the “Rukan” tower, in the “Dubailand” area, being developed in cooperation with the “Continental Investment Company”, to provide about 488 housing units The “Rukan Lofts 1” includes about 349 residential villas, and “Rukan Lofts 2” provides about 755 villas.
In Egypt, “Reportage Properties” recently launched the “Montenapoleone” project, which will be built on an area of 465,000 square meters, and will include 5,500 housing units.