UAE real estate developer Reportage Properties reported sales of Dh892 million from January to July 2021, compared to Dh424 million in the same period of 2020, an increase of 110%.
Sales volumes from the company’s last sales day in Dubai totaled Dhs16 million amid high demand for units in their projects, including the Rukan Lofts in Dubai and the Montenapoleone project, which the company opened recently in Mustakbal City, New Cairo, Egypt.
Recently, Reportage Properties announced the addition of new units to the “Rukan Lofts” development in the “Dubailand” area in cooperation with “Continental Investment Company”. The company made the move after it sold all of the units of the project.
“Rukan Lofts” has about 654 residential villas, while “Rukan Tower” has 488 housing units, including studios, one-, two- and three-bedroom apartments.
Prices for the new units start at Dh695,000 for a one-room apartment and Dhs995.000 for a two-room apartment.
Islam Ahmed Suleiman, CEO of Reportage Properties said that the strong sales during the current year reflect the company’s ability to meet the needs and expectations of its customers, the attractiveness of its projects, as well as the strength and stability of the UAE real estate sector performances and its ability to cope with the consequences of the “Covid 19” epidemic.
In 2020, Reportage Properties sales exceeded Dh812m, increasing 125 percent from the same period in 2019.
According to Suleiman, the company experienced a significant boost in demand after launching new units in the “Rukan Lofts” project after reaching strong sales figures. That was even more so when considering the company’s competitive and attractive pricing options.
He noted that in releasing the “Montenapoleone” project, their first project outside the UAE, the company was proving the stability and strength of its financial position and its capability to successfully create new projects inside and outside the UAE.
He explained that the sales day organized by the company recently received great interest in all of the company’s residential projects, particularly Rukan Lofts and Monte Napoleone, as well as “The Gate” in Abu Dhabi. This was due to the availability of attractive offers in all projects.