Project adds 110 residential units in Abu Dhabi

Reportage Properties, the leading real estate developer in the UAE, has revealed that the Al Raha Lofts project has been completed on the Al Raha Beach area in Abu Dhabi. A special celebration will be organized tomorrow Thursday, September 15, to mark the completion and hand-over of the Al Raha Lofts 1 project.

The Al Raha Lofts 1 project provides around 164 residential units, while the Al Raha Lofts 2 adds nearly 110 residential units within the Al Raha Beach area in Abu Dhabi.

Islam Ahmed Suleiman, CEO of Reportage Properties, stressed the company’s keenness on carrying out all its projects as per schedule with a view to enhancing investors’ confidence in the company’s projects and in the UAE real estate market, stressing that the completion and hand-over of the Al Raha Lofts project is a new episode of Reportage Properties’ process of achievements.

The Al Raha Lofts 1 project is distinguished for its strategic location in the Al Raha Beach area and incorporates retail spaces, facilities and various services including a swimming pool, a gym, green spaces, an area dedicated to stores, covered parking lots, a tennis court, and a football playground.

The project features studio apartments and 1-bedroom, 2-bedroom, 3-bedroom and 4-bedroom apartments in addition to 2-bedroom and 4-bedroom duplexes. Each apartment features a special terrace or balcony and a fully equipped kitchen.

Suleiman pointed out that construction work was in progress in all Reportage Properties’ projects under construction in Abu Dhabi and Dubai, noting that more than 99 per cent of Al Waha Residence 1 project, which provides 612 apartments in Masdar City, had been completed.

Some 76 per cent of the Al Waha Residence 2, 65 per cent of The Gate project in Masdar City, 52 per cent of Al Maryah Vista in Al Maryah Island in Abu Dhabi and around 20 per cent of Diva project in Yas Island had been completed, he said.

As far as Reportage Properties’ projects in Dubai are concerned, more than 47 per cent of Alexis Tower, 66 per cent of Rakan Tower and 83 per cent of Rukan Lofts, had been completed, he added.

Three years ago, Reportage Properties started handing over its Leonardo Residence project, which featured 177 residential apartments in Masdar City.

Suleiman affirmed that the progress made in the construction work of the company’s projects enhanced investors’ confidence in its projects and this reflected directly on the constant increase in the company’s sales.

Reportage Properties’ sales reached Dhs1.2 billion in the first half of this year, compared to Dhs704 million in the first half of 2021, up by 70 per cent.

Reportage Properties’ portfolio in the UAE includes 15 projects that provide more than 6,500 residential units within the most important investment sites in Abu Dhabi and Dubai.

In Egypt, Reportage Properties launched last year the Monte Napoleone project, which would comprise 5,500 residential units. In the first phase of the project, as many as 1,309 apartments and townhouses are provided.