Abu Dhabi-based Reportage Properties, a leading real estate developer, has launched “The Gate” project in Masdar City, Abu Dhabi, offering 463 luxury residential units with prices starting at Dh500,000 ($136,100).

The project includes 200 studios, 144 one-room and lounge apartments, 94 two-room apartments, and seven three-room apartments, in addition to two four-room apartments, next to 16 townhouse units.

Nasser Al Khamis, CEO of Reportage Group of Real Estate Companies said that the launching of this project came after a thorough study of the market requirements, noting that there is a high demand for buying real estate in Abu Dhabi, especially for projects that provide high-quality units and excellent specifications.

He added that the stability of the real estate market in Abu Dhabi in light of the disclosure of many investment incentives and the approval of laws regulating the market encourages the launch of new projects.

He pointed to the start of construction work on the project recently, as the foundation works were completed, explaining that the project is scheduled to be completed and delivered by the second quarter of the year 2022.

The project consists of a tower of about 10 floors, with a building area of 528,000 square feet, and it provides all services and facilities such as a gym, a swimming pool, children's play area, reception area, parking slots and many more.

Studios range from 330 to 498 sq ft, and one-room apartments between 592 to 700 square feet, and two-room apartments between 922 and 1965 sq ft, while the three-room apartments are 1771 sq ft, and the four rooms are between 2885 and 3162 sq ft, Townhouse spaces, however, are 3,290 sq ft with a private garden.

Al Khamis indicated that easy payment methods are available to buyers, by paying only 1% within 100 months, which provides ideal opportunities for those who want to buy real estate during a period of more than 8 years, explaining that all units are fully furnished; including furniture, furnishings and kitchen appliances.

The prices of studios in the "Gate" project start from Dh506,000 up to Dh570,000, and one-room apartments from Dh680,000 to Dh810,000 and prices for two-bedroom apartments start from Dh970,000 up to Dh1.099 million, while the three rooms begin from Dh1 million up to Dh1.42 million, while the prices for four-room apartments start from Dh1.6 million and the townhouse starts from Dh1.8 million.

He said that launching "That Gate" comes after company’s delivery of "Leonardo Residence" project in Masdar City at the beginning of last year, which provides 177 apartments. Company is also implementing in Masdar City projects "Oasis Residence 1" which will add 612 apartments, and " Oasis Residence 2 ", which provides about 304 residential units.

He stressed that "The Gate" provides distinguished investment opportunities, in light of the strong demand for housing in the city of Masdar, and the shortage of supply of residential units, explaining that the prices for renting studios currently in "Leonardo Residence" project owned by the company in the city of Masdar ranges between Dh45,000 and Dh50,000, the one-room apartment is from Dh70,000 to Dh75,000 and the two rooms from Dh85,000 to Dh95,000, while the price for renting three-room apartments range from Dh125,000 to Dh130,000.

The list of Reportage projects also includes two projects in the Al Raha Beach area in Abu Dhabi, which are Al Raha Loft 1 that provides 164 units, and Al Raha Loft 2 that provides 110 housing units, as well as the Al Maryah Vista project on Al Maryah Island, which includes 772 units, alongside the Rukan Lofts project in Dubai, which provides about 349 villas in the Dubailand area. – TradeArabia News Service