Reportage Properties, the leading real estate development company, has revealed sales of more than Dhs812 million in 2020, at a growth rate of 125% compared to 2019, when sales topped Dhs362m. Islam Ahmed Suleiman, CEO, said that the growth of the company's sales despite the challenges related to the repercussions of the outbreak of "Covid-19", confirms the strength of the company's performance, and their success in offering real estate units that attract buyers, as well as the stability of UAE real estate sector.
He pointed out that sales during 2020 witnessed continuous growth, where the fourth quarter of the year sales amounted to Dhs244.5m. Suleiman added that in 2020 the company launched a number of new projects in Abu Dhabi and Dubai, which attracted various segments of buyers in light of providing easy payment plans, special offers and competitive prices.
He explained that the continuation of construction works in all the company's projects despite the challenges of the pandemic, and the near completion and delivery of a number of projects in Abu Dhabi, boosted the confidence of investors and buyers in the company's projects. That also boosted demand, which was reflected in the growth of the company's sales.
The CEO confirmed the importance of the measures approved by the wise leadership during the year 2020, which contributed to reducing the repercussions of the pandemic on the national economy, and contributed to real estate sector’s quick overcoming challenges. The continuous incentives and initiatives since the beginning of the current crisis, as well as mortgage facilities and canceling much of the fees also helped in pushing sales in the real estate market.
Suleiman said that Reportage Properties sales in 2020 topped Dhs812.1m.The company is developing 4 projects in Dubai, including the Alexis Tower project in Downtown Jebel Ali, which provides 378 luxury housing units, as well as a "Rukan Tower”, in the "Dubailand" area, which is being developed in cooperation with "Continental Investment", and provides about 488 housing units, " Rukan Lofts 1" includes about 349 residential villas, and " Rukan Lofts 2" which provides about 305 villas.
In Abu Dhabi, “Reportage Properties” is developing two projects in Al Raha Beach area, “Al Raha Lofts 1”, providing 178 housing units, and “Al Raha Lofts 2”, which will add 124 residential units.
The two projects are expected to be delivered during the first half of 2021. In Masdar City in Abu Dhabi, the "Oasis Residences 1" project provides 612 apartments, the "Oasis Residences 2" that includes about 304 residential units, as well as the "The Gate" that adds 463 apartments. On Al Maryah Island, Reportage Properties is developing "Al Maryah Vista" project, providing 786 housing units. The company also recently revealed a new project that will be developed on Yas Island.