* Islam Suleiman: The strong sales reflect the attractiveness of "Reportage" projects and robust UAE real estate market
Abu Dhabi: Reportage Properties, the leading real estate developer in the UAE, revealed sales of more than Dhs500mn since the beginning of 2021, with a growth rate of more than 200% compared to the first four months of 2020, sales of Dhs 165 mn.
Reportage Properties is developing 11 projects, providing about 5,000 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 list of "Reportage" projects is divided into 8 projects in Abu Dhabi, in the areas of Masdar City, Al Raha Beach, Al Maryah Island and Yas Island, in addition to 4 projects in Dubai.
Sales during the first quarter of this year amounted to about Dhs369mn, compared to Dhs132mn during the first quarter of 2020, with a growth rate of 180%.
Islam Ahmed Suleiman, CEO, said that achieving strong sales despite the challenges associated with the repercussions of the "Covid-19" pandemic during the current year, reflects the company's strong performance and the attractiveness of its projects, as well as the robustness and stability in the UAE real estate sector.
Reportage Properties sales in 2020 totaled Dhs812mn, an increase of 125% compared to 2019.
Suleiman confirmed that the company launched new projects in 2020, both in Abu Dhabi and Dubai, which attracted a variety of buyers, especially in light of the company's interest in providing easy payment methods and special offers.
He said that construction works continues in all Reportage Properties projects despite the challenges of “Covid-19” pandemic.
The company stress their commitment to complete projects on schedule to enhance customer confidence, which help also in boosting demand.
The list of "Reportage Properties" projects in Abu Dhabi includes "Al Raha Lofts 1", which provides 178 residential units, and "Al Raha Lofts 2", which adds 124 residential units, both projects are within the Al Raha Beach area.
In Masdar City, the "Oasis Residence 1" is being developed to provide 612 apartments, the "Oasis Residence 2" includes about 304 housing units, as well as the "The Gate" that adds 463 apartments, while the "Leonardo Residence" project, which was delivered about two years ago and included 177 apartments .
On Al Maryah Island, Reportage Properties is developing the “Al Maryah Vista” project, providing 786 housing units. The company also recently unveiled the “Diva” project on Yas Island, which will provide 736 housing units.
In Dubai, “Reportage Properties” is developing “Alexis Tower” on Sheikh Zayed Road in the Downtown Jebel Ali area. It provides 378 luxury residential units. “Rukan” tower, in the “Dubailand” area, which is being developed in cooperation with “Continental Investment Company”, will add about 488 housing units, “Rukan Lofts 1” includes about 349 residential villas, and “Rukan Lofts 2” provides about 305 villas.
© Press Release 2021
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