Sunday 12 July 2020

Reportage's UAE projects on track, to add 2,300 new units

ABU DHABI, October 23, 2019

Reportage Properties, a leading Abu Dhabi-based real estate development company, has announced that work was progressing well on all its projects in the UAE capital and Dubai as well.

Once completed, these new projects will add more than 2,300 new residential units into the UAE property market, said a top official.

"The six projects provide more than 2,300 new residential units, including about 2,000 units in five projects in Abu Dhabi being developed in premium investment areas, such as Masdar City, Al Raha Beach and Al Maryah Island," stated Group CEO Nasser Al Khamees.

Construction works on the “Oasis Residence 1” project in Masdar City is making remarkable progress, with 30 per cent of the project already completed.

The project, which will come up on an area of 8,371 sq m, houses 612 apartments, of which 310 are studios, 256 one-, 44 two- and the rest three-bedroom units. It is likely to be delivered during the second quarter of 2021.

Al Khamees said work has also begun at “Oasis Residence 2” project in Masdar City, which will provide about 304 residential units, to be handed over during the second quarter of 2022.

They also started construction works at 'The Gate' project in Masdar City, which provides 420 apartments. It is expected to be completed during the second quarter of 2022.

On two of its projects coming up in the Al Raha Beach, the top official said 25 per cent of works have been completed.

Reportage Properties is developing “Al Raha Loft 1,” a 164-unit residential project coming up on a 6,663 sq m area, and Al Raha Loft 2, a 110-unit development. Both the projects are expected to be delivered during the first half of 2021.

The Abu Dhabi developer said one of its key subsidiaries, Weighbridge Real Estate Development, had launched the Al Maryah Vista project on Al Maryah Island in Abu Dhabi, which will provide 772 apartments.

Construction works have already begun on the project, which is being developed on an area of 958,000 sq ft. The 22-floor Al Maryah Vista is due for handover in the second quarter of 2023, it added.

On the company's projects in Dubai, Al Khamees said Reportage Properties had recently announced the launch of the second phase of Rukan project in Dubailand.

The project, being developed in collaboration with Continental Investment Company, boasts a total of 349 villas, he added.

In addition to these projects, Al Khamees said the company aims to develop more projects in Abu Dhabi and Dubai in the near future depending on the market needs.

"We are committed to add high-quality projects into the market and complete all our projects on schedule to boost investors’ confidence in Reportage Properties' projects," he added.-TradeArabia News Service


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