Reportage’s projects on track

Sajjad Ahmad, Gulf Today
Reportage Properties, a leading real estate developer based in Abu Dhabi, revealed big progress of construction works in their projects in Abu Dhabi and Dubai. This will affirm the units hand- over according to the specified time plans, which enhance investors’ confidence in those projects and  in the real estate market as a whole. That will also support the performance of the UAE real estate sector during these exceptional times.

Reportage Properties is developing 8 projects in the UAE, including 6 in Abu Dhabi, located in the most important investment areas such as Masdar City, Al Raha Beach and Al Maryah Island, as well as two projects in Dubai.

Nasser Al Khamis, CEO of Reportage Group of Real Estate Companies, emphasised their commitment to completing the construction works in all projects on schedule, despite the challenges associated with the outbreak of COVID-19.

He said that the company will hand over 3 projects in Abu Dhabi  next year, Al Raha Loft 1, Al Raha Loft 2 at Al Raha Beach, and Al Waha Residence 1 in Masdar City.The remaining projects are to be handed over in 2022 and 2023.

Al Khamis indicated that construction work in the company’s projects in Al Raha Beach reached 62% at Al Raha Loft 1. At Al Raha Loft 2 project about 68% was achieved. The company is expected to deliver the two projects during the first half of 2021.

He pointed to the progress of construction work on the company’s projects in Masdar City, where 54% of the Oasis Residence 1 project was completed, and it is expected to be delivered during the second quarter of  2021, whereas about 15% of the Oasis Residence 2 was completed. The Masdar City project is expected to be handed over during the second quarter of 2022.

Islam Ahmed Suleiman, Chief Operating Officer , said that the company recently launched 4 new projects, “The Gate in Masdar City, and Almaryah Vista on Al Maryah Island in Abu Dhabi, as well as Rakan and Alexis  in Dubai, pointing to the commencement of construction work in the four projects, as a prelude to delivering them on schedule.

He added that the progress of construction works in the projects enhanced the buyers’ confidence in the company’s projects, which was reflected in achieving record sales during the first half of this year totaled Dhs 402million during the first half of 2020, a growth rate of 200% compared to the first half of 2019, where sales topped Dhs137 million.

Suleiman pointed out that about 17% of the “The Gate” project in Masdar City, which provides about 420 apartments, is expected to be completed, and the project is expected to be finished during the second quarter of 2022.