At the moment the company is developing 12 projects in the UAE that feature in total about 6,000 housing units.
Reportage Properties, a leading UAE-based real estate developer, achieved over USD 272 million in sales from January to August 2021, which is 105 percent more compared to USD 132 million during the first eight months of 2020.
At the moment Reportage Properties is developing 12 projects in the UAE that feature in total about 6,000 housing units located within the most important investment sites in Abu Dhabi and Dubai. In addition to that, the company has recently completed and delivered a project in Masdar City in Abu Dhabi.
The developer's most recent project is Al Maryah Vista 2 situated on Al Maryah Island in Abu Dhabi. It comprises 588 new housing units, with prices starting from 89,571 per unit.
On the sales day, organized by the company on August 28 at the Sofitel Abu Dhabi Corniche Hotel, residential units in Reportage Properties' projects witnessed huge demand from buyers, with most popular projects being Al Maryah Vista in Abu Dhabi and Rukan Lofts in Dubai.
Islam Ahmed Suleiman, the company's CEO, pointed out that the increase in sales during this year, despite the challenges caused by the repercussions of the COVID-19 pandemic, reflected the stability of the company and its financial position, as well as ability to make attractive offers. The sales also were boosted by the various high-quality facilities of the projects.
According to Suleiman, Reportage Properties' continual sales growth indicates the improvement of activity in the UAE real estate market and the sector's recovery from the crisis induced by the coronavirus pandemic.
In 2020 the company achieved sales of USD 221 million, an increase of 125 percent compared to 2019.
The developer also said the construction works on all the projects were on track and the units would be handed over to owners on schedule.
Reportage Properties' projects in Abu Dhabi include Al Raha Lofts 1 with 164 housing units and Al Raha Lofts 2 with 110 housing units, located within the Al Raha Beach district.
In Masdar City in Abu Dhabi, Oasis Residence 1 is under construction providing 612 apartments and Oasis Residence 2 featuring 304 units as well as The Gate, which has 463 apartments. The Leonardo Residence project was handed over about two years ago and includes 177 apartments.
On Al Maryah Island, is developing Al Maryah Vista featuring 786 housing units, next to it Al Maryah Vista 2 will be build, with 588 new apartments. In addition to that, the construction of the Diva project on Yas Island is underway, which will provide 736 units.
In Dubai, Alexis Tower is being constructed on Sheikh Zayed Road in Downtown Jebel Ali, providing 378 luxury housing units. The Rukan tower in Dubailand is also on track, being developed in cooperation with the Continental Investment Company and featuring 488 units. Rukan Lofts 1 and Rukan Lofts 2 are two villa projects. The first one will comprise about 349 residential villas and the second one about 755 villas.