* 12 projects under construction in Abu Dhabi and Dubai to provide 6,000 housing units
Reportage Properties, the leading UAE real estate developer’s sales exceeded Dhs1.5bn since January to the end of November 2021, compared to Dhs714mn during the same period of 2020, an increase of more than 110%.
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 strong sales during the current year reflect the strength of Reportage’s performance and their flexibility in adapting to challenges, while continuing to launch new projects that meet the needs of customers.
He added that the increase in sales reflects also the upward track of activity in the UAE real estate market, and its ability to overcome the challenges associated with the repercussions of the pandemic.
Reportage Properties sales topped Dhs812mn during 2020, an increase of 125 percent compared to 2019 sales.
Suleiman confirmed that the company is keen to continue making many attractive offers to buyers, which contribute to enhancing sales.
Reportage Properties recently revealed the launch of a special offer on 4 projects under construction in Abu Dhabi, which includes a 5% discount, with only 1% paid until delivery, without down payment.
The four projects include 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 stressed that the real estate market in the UAE is robust and rewarding in terms of demand for purchases, in line with the event of “Expo Dubai 2020”, as well as the launch of “50 projects” initiative, in a way that enhances the recovery of the national economy from the repercussions of the “Covid-19” pandemic.
He pointed out that Reportage Properties continue construction works in all their projects according to the specified time plans, which enhances investors’ confidence in the company’s projects, and the real estate market as a whole.
Reportage Properties recently announced starting construction works in the “Diva” project, which is being developed on Yas Island in Abu Dhabi, and provides 736 new housing units. The project is scheduled to be completed and handed over by the last quarter of 2024.
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, both within the Al Raha Beach area.
In Masdar City in Abu Dhabi, the “Oasis Residence 1” project which provides 612 apartments,is under development. The “Oasis Residence 2” also includes about 304 housing units, and the “The Gate” project will add 463 apartments, as well as the “Leonardo Residence”, which was delivered about two years ago, and includes 177 apartments in Masdar City.
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 includes 588 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, and the “Rukan” tower, in the “Dubailand” area, which is being developed in cooperation with the “Continental Investment Company”, provides about 488 housing units, while “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 include 5,500 housing units.