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** Nasser Al-Khamees: procedures stimulating investment and stability of the performance of the real estate market in Abu Dhabi encourage launching new projects
Abu Dhabi- UAE: Reportage Properties, the leading real estate development company based in Abu Dhabi, has revealed the launching of “The Gate” project in Masdar City, Abu Dhabi, with prices starting 500,000 dirhams.
The project offers 463 luxury residential units, with 200 studios, 144 one-room and lounge apartments, 94 two-room apartments, and 7 three-room apartments, in addition to two 4-room apartments, next to 16 townhouse units.
Nasser Al Khamis, CEO of Reportage Group of Real Estate Companies said that the launching of this project came after a thorough study of the market requirements, noting that there is a high demand for buying real estate in Abu Dhabi, especially for projects that provide high-quality units and excellent specifications.
He added that the stability of the real estate market in Abu Dhabi in light of the disclosure of many investment incentives and the approval of laws regulating the market encourages the launch of new projects.
He pointed to the start of construction work on the project recently, as the foundation works were completed, explaining that the project is scheduled to be completed and delivered by the second quarter of the year 2022.
The project consists of a tower of about 10 floors, with a building area of 528,000 square feet, and it provides all services and facilities such as a gym, a swimming pool, children's play area, reception area, parking slots and many more.
Al Khamis drew attention to the distinguished location of the project in Masdar City, the most sustainable city in the world, which contributes to enhancing the demand for the project, especially in light of the availability of large areas for residential units.
Studios range from 330 to 498 square feet, and one-room apartments between 592 to 700 square feet, and two-room apartments between 922 and 1965 square feet, while the three-room apartments are 1771 square feet, and the four rooms are between 2885 and 3162 square feet, Townhouse spaces, however, are 3,290 square feet with a private garden.
Al Khamis indicated that easy payment methods are available to buyers, by paying only 1% within 100 months, which provides ideal opportunities for those who want to buy real estate during a period of more than 8 years, explaining that all units are fully furnished; including furniture, furnishings and kitchen appliances.
The prices of studios in the "Gate" project start from 506 thousand dirhams, up to 570 thousand, and one-room apartments from 680 to 810 thousand dirhams, and prices for two-bedroom apartments start from 970 thousand dirhams, up to one million and 99 thousand dirhams, while the three rooms begin from one million dirhams up to one million and 420 thousand, while the prices for four-room apartments start from 1.6 million dirhams, and the townhouse starts from 1,8 million dirhams.
He said that launching "That Gate" comes after company’s delivery of "Leonardo Residence" project in Masdar City at the beginning of last year, which provides 177 apartments. Company is also implementing in Masdar City projects "Oasis Residence 1" which will add 612 apartments, and " Oasis Residence 2 ", which provides about 304 residential units.
He stressed that "The Gate" provides distinguished investment opportunities, in light of the strong demand for housing in the city of Masdar, and the shortage of supply of residential units, explaining that the prices for renting studios currently in "Leonardo Residence" project owned by the company in the city of Masdar ranges between 45 and 50 thousand, the one-room apartment is from 70 to 75 thousand, and the two rooms from 85 to 95 thousand, while the price for renting three-room apartments range from 125 to 130 thousand dirhams.
It is noteworthy that the list of "Reportage" projects also includes two projects in the Al Raha Beach area in Abu Dhabi, which are "Al Raha Loft 1" that provides 164 units, and "Al Raha Loft 2" that provides 110 housing units, as well as the "Al Maryah Vista" project on Al Maryah Island, which includes 772 units, alongside the "Rukan Lofts" project in Dubai, which provides about 349 villas in the "Dubailand" area.
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