Abu Dhabi: Reportage Properties, the leading UAE real estate developer , achieved sales of more than one billion dirhams from January to August 2021, compared to Dhs488mn during the first eight months of 2020, with a growth of about 105%.
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 delivered in Masdar City in Abu Dhabi.
The sales day, which was organized by the company on August 28 at the Sofitel Abu Dhabi Corniche Hotel, witnessed great response with robust demand for the residential units in the "Reportage Properties" projects, led by the "Al Maryah Vista" in Abu Dhabi, and "Rukan Lofts" in Dubai, as well as the "Montenapoleone", which was recently launched by the company in “Mostaqbal City” in New Cairo, Egypt.
Islam Ahmed Suleiman, CEO, said that the increase in sales during this year, despite the challenges imposed by the repercussions of the "Covid-19" pandemic, reflects the stability of the company's conditions and the strength of their financial position, as well as their success in making attractive offers .The various facilities of the projects also give the sales additional boost .
He confirmed that the company continual sales growth represents a strong indication of the improvement of activity in the real estate market, and the start of the sector's recovery from the repercussions of the pandemic.
Reportage Properties achieved sales of Dhs812mn during 2020, a growth of 125 percent compared to 2019.
Suleiman pointed out that the construction works of all the company's projects is gaining progress, in preparation for the units to be handed over to buyers on the schedule, which enhances the investors' confidence .
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 in Abu Dhabi, 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, whereas the “Leonardo Residence” project, which was handed over 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" project 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, and "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.
© Press Release 2021