Dhs2.3bn total 2022 sales of “Reportage Properties” significant Increase of 45%
*The company finished 3 projects in Abu Dhabi and Dubai and launched 5 new projects in the UAE and Turkey.
Abu Dhabi, 4 January 2023: Reportage Properties, the leading real estate developer in the UAE, announced sales of Dhs2.3bn in 2022, compared to sales of Dhs1.6bn in the previous year, with a growth of 45%.
The “Reportage Properties” portfolio includes 19 projects, 17 of which are in the UAE, providing about 7 thousand housing units within the most important investment sites in Abu Dhabi and Dubai, in addition to two projects in Egypt and Turkey.
Islam Ahmed Suleiman, CEO, said that the company’s performance during the year 2022 was outstanding with many achievements , selling about 2048 housing units, and organizing 11 special sales events, which witnessed 390 sales transactions, at a total value of Dhs359 million.
He stressed that the continued increase in sales for the fifth year in a row, reflects the ability of “Reportage Properties” to keep pace with market changes, and their flexibility in adapting to challenges, while continuing to launch new projects that meet the requirements of customers.
Suleiman stated that during the year 2022, they succeeded in finishing and delivering 3 real estate projects in Abu Dhabi and Dubai, the “Al Raha Lofts 1” in Al Raha Beach area in Abu Dhabi was handed over with about 164 housing units, as well as the “Al Waha Residence 1” in Masdar City, which provides 612 apartments.
The company has also completed the first phase of the “Rukan Lofts1”, which was developed in “Dubailand” in cooperation with their partner, “Continental Investments”. The project provides about 349 residential villas.
Suleiman confirmed that finishing and handing over of 3 new projects during 2022 reflects their keenness to implement all projects according to the specified schedule, which enhances investors’ confidence in Reportage projects and the UAE real estate market.
Suleiman explained that “Reportage Properties” continued to launch more new projects during 2022 in Abu Dhabi and Dubai, as the company launched the “Verdana” in Dubai, located within the Dubai Investments Park, which consists of 305 “townhouse” units. He pointed to the progress of construction works in the project, which is witnessing a remarkable response from buyers.
In Abu Dhabi, “Reportage Properties” launched the “Plaza” project in Masdar City, Abu Dhabi, which consists of 348 housing units. They also launched the “Birla 1” project on Yas Island, which includes 190 housing units, in addition to “Pirla 2” which adds 115 new housing units.
Suleiman stated that 2022 was also the year when Reportage Properties launched their second project outside the UAE, the “Silvana” in the Basaksehir district of Istanbul, Turkey. The project extends over an area of 48.000 square meters, and provides 232 townhouses. The project is designed in Italian style, and includes 4 room-townhouses.”Silvana” qualifies buyers to obtain Turkish citizenship.
Suleiman explained that the launch of the second “Reportage Properties” project outside the UAE, after launching the “Montenapoleone” in Mostakbal City in New Cairo, Egypt in 2021 , reflects the company’s strong financial position, the stability of their business model, and ability to implement many new projects in various regions.
Reportage Properties revealed the start of construction works on the “Montenapoleone” project in Egypt during the first quarter of last year, which will be developed in cooperation with Al-Ahly Sabbour Company, a leader in real estate development in Egypt. “Montenapoleone” will be built on an area of 465,000 square meters. It will include 5,500 housing units, and the first phase will provide 1,309 apartments and townhouses. The project is expected to be delivered by the fourth quarter of 2025.
Suleiman said that the achievements of 2022 culminated in Reportage Properties winning three awards within the Arab Real Estate Awards 2022-2023, one of the most important awards in the Arab and African regions and affiliated with the international real estate awards.
“Al Maryah Vista 2” project won two awards for “Best Residential Project.” High-rise”, and “Best 5-star high-rise residential project”. The “Al Raha Lofts” project won the award for “Best residential project with more than 20 units”, and the award was presented during a distinguished ceremony held last November at Al Habtoor Grand Resort, Dubai.
Suleiman stressed that the increase in “Reportage” sales during the year 2022 confirms the improvement of activity in the UAE real estate market, and their ability to overcome challenges, especially with the continued launch of many initiatives stimulating economic activity in various sectors, besides the real estate sector.
The list of “Reportage Properties” projects in Dubai includes the “Alexis Tower” on Sheikh Zayed Road in the Downtown Jebel Ali area in Dubai, which provides 378 luxury housing units, and the “Rukan” tower in the “Dubailand” area, which is being developed in cooperation with “Continental Investments” providing about 488 housing units, “Rukan Lofts 1”, which includes about 349 residential villas, and “Rukan Lofts 2”, which provides about 755 villas, in addition to the “Verdana” project, located within the Dubai Investments Park, and provides 305 town house units.
In Abu Dhabi, “Reportage Properties” completed the “Al Raha Lofts 1” , which provides 164 housing units, and “Al Raha Lofts 2”, which adds 110 housing units, within the Al Raha Beach area.
In Masdar City, Abu Dhabi, the “Oasis Residence 1” is being developed to provide 612 apartments, and the “Oasis Residence 2” includes about 304 housing units. “The Gate” will add 463 apartments,is another addition to the recently launched “Plaza” in Masdar City in Abu Dhabi. The project consists of 348 housing units. The “Leonardo Residence”, which was delivered about 3 years ago, also included 177 apartments in Masdar City.
On Al Maryah Island, Reportage is proceeding with the “Al Maryah Vista” project, which will provide 786 housing units, in addition to “Al Maryah Vista 2”, which will include 588 new housing units. On Yas Island, the “Diva” is being developed to provide 736 residential units. The Birla 1 includes 190 housing units, in addition to «Birla 2», adding 115 new housing units.
In Egypt, Reportage Properties launched the “Montenapoleone” project, which will include 5,500 housing units, with the first phase providing 1,309 apartments and townhouses. The company recently launched the “Silvana” project in Turkey, which provides 232 townhouses.