UAE - Mubasher: Reportage Properties, a real estate company based in Abu Dhabi, announced that it will commence the construction works of the first phase of Rakan Lofts during the first quarter of 2020, as part of a project built in Dubailand in partnership with Continental Investment and providing over 1,300 villas in total.
CEO of Reportage Properties Group, Nasser Al Khamees, commented, "The first phase of Rakan Lofts offers about 349 villas [while] the prices of one-bedroom townhouses with two storeys start from AED 575,000 [and] the two-bedroom townhouse starts from AED 895 thousand, all prices include the registration fee of 4%."
Buyers of the project’s units will enjoy easy payment plans as they can pay 10% down payment, followed by 10% after one year and only 1% monthly for two years, with the total payment at the time of hand over equaling only 44% of the total cost, said a recent press release.
Situated in the Safa Valley 7, the new project is close to the prominent “Expo 2020” site and other vital shopping centres, golf courses, and entertainment complexes.
The UAE’s real estate sector is forecast to stable over the current period, sparking a likely improved demand ahead of the start of "Expo 2020", Al Khamees expected.
Spread over a spatial area of 3 million square feet, the new project 'Rakan Lofts' is designed to provide ample environment-friendly spaces as over 60% of it is open and green public spaces. Families can also enjoy cycling and walking paths in addition to various recreational and service facilities and a commercial area.
It is worth noting that the company has recently handed over the 'Leonardo Residence' residential project in the city of Masdar, while is also developing other three projects in 'Oasis Residence 1', 'Oasis Residence 2', and 'The Gate'.
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