Reportage Properties on Monday said its first-half sales increased 107% to Dh704 million as the investors and end-users bought residential units amid fear of rising property costs.
Islam Ahmed Suleiman, CEO of Reportage Properties, said that the robust deals during the first half of this current year reflected the high performance and the attractiveness of the company’s projects, just as the strength and soundness of the UAE real estate sector and its capacity to overcome difficulties related with the repercussions of the Covid-19 pandemic.
Reportage Properties gained sales of Dh812 million in 2020, a jump of 125% compared to 2019.
The company’s real estate revenues topped Dh22 million during a sales day event that was organized in early July in Abu Dhabi
Reportage Properties is working on 11 projects, providing about 5,000 housing units within the most important investment sites in Abu Dhabi and Dubai, adding on to a project that has been finished and delivered in Masdar City in Abu Dhabi.
Suleiman highlighted the progress of construction works in all projects, regardless of the challenges of the pandemic. He affirmed commitment to finishing the projects on time, which boosted their client’s confidence and boosted demand.
He underscored the significance of the new dispatch of the ‘Montenapoleone’ project, which is the organization’s first task outside the UAE. The move reflects the organization’s financial position’s stability and strength and its capacity to develop more new projects inside and outside the UAE.
Suleiman pointed to the high demand from large portions of customers for residential units in the project, mainly in light of the remarkable positive developments in the Egyptian real estate sector presently.