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Abu Dhabi: Reportage Properties, the leading real estate developer in the UAE, achieved sales of Dhs704mn during the first half of this year, compared to Dhs340mn during the first half of 2020, a growth of 107%.
Sales value in the event of sales day, which was organized by the company, in early July, at the Sofitel Abu Dhabi Corniche Hotel, topped Dhs22mn, amid great demand for the purchase of housing units in the "Reportage Properties" projects, led by the "Montenapoleone" , which was launched recently in Mustakbal City, New Cairo, Egypt.
The project, which will be developed in cooperation with Al-Ahly Sabbour, the leading real estate developer in Egypt , includes 5,500 housing units.
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.
Islam Ahmed Suleiman, CEO, said that the robust sales during the first half of this year, reflect the high performance and the attractiveness of their projects, as well as the strength and stability of the UAE real estate sector and its ability to overcome challenges related to the repercussions of the "Covid-19" pandemic.
Reportage achieved sales of Dhs812 in 2020, a growth of 125 percent compared to 2019.
Suleiman pointed to the progress of construction works in all projects, despite the challenges of the pandemic. He confirmed commitment to completing the projects on schedule, which boosted their customers confidence, and contributed to the boosting demand.
He emphasized the importance of the recent launch of the "Montenapoleone" project, which is their first project outside the UAE. The move reflects the stability and strength of the company's financial position, and its ability to develop more new projects inside and outside the UAE. Sulieman stressed the high demand from large segments of customers to for residential units in the project, especially in light of the remarkable positive developments in the Egyptian real estate sector currently .
He explained that the sales day organized by the company recently reflected great demand for the purchase of housing units in the "Montnapoleone" project, as well as the company's projects in Abu Dhabi and Dubai, led by "Rukan" and "Alexis Tower" in Dubai, "The Gate" and "Al Maryah Vista" and "Diva" in Abu Dhabi, especially in light of the attractive offers buyers can avail in all projects.
The list of Reportage Properties projects in Abu Dhabi includes "Al Raha Lofts 1", which provides 178 housing units, and "Al Raha Lofts 2", which adds 124 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, whereas “The Gate” will add 463 apartments, and the “Leonardo Residence” , which was handed out about two years ago, and includes 177 apartments in Masdar City.
On Al Maryah Island, Reportage Properties is developing the “Al Maryah Vista” project, which provides 786 housing units. The company also recently revealed the “Diva” project on Yas Island, which will provide 736 housing units.
In Dubai, Reportage Properties is developing the “Alexis Tower” on Sheikh Zayed Road in the Downtown Jebel Ali area, which provides 378 luxury housing units, and the Rukan Tower, in the Dubailand area, which is being developed in cooperation with “Continental Investments”. It provides about 488 housing units, while "Rukan Lofts 1" includes about 349 residential villas, and "Rukan Lofts 2" provides about 305 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. The project expected sales to amount to EgP12bn (Dhs2.83bn), and it provides an innovative fully-finished townhouse, in addition to apartments with distinct areas ranging from one room to 4 rooms with the highest levels of luxurious finishing. Hand out of units is expected to start by the fourth quarter of 2025.
© Press Release 2021
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