Reportage to deliver 5 projects in next 3 years
Aug 22, 2019 1:54 PM
Abu Dhabi-based Reportage Properties a leading real estate developer said that it is ready to hand over five new developments in Abu Dhabi within two to three years. The five projects offer more than 1...
Abu Dhabi-based Reportage Properties, a leading real estate developer, said that it is ready to hand over five new developments in Abu Dhabi within two to three years.
"The five projects offer more than 1,600 new housing units for the Abu Dhabi market," said Nasser Al Khamees, CEO of Reportage Group of companies.
The five projects are located in leading investment areas in Abu Dhabi such as Masdar City and Al Raha Beach, he added.
Khamees stressed the company's commitment to complete all its projects as scheduled, which contributes to enhancing investors’ confidence in the projects, and attracts more investors to the real estate sector in Abu Dhabi. The realty sector is boosting stability amid positive signs of improved activity, with the adoption of further measures, laws and legislations that stimulate investment, he noted.
Khamees said that the company would start delivering the units at "Oasis Residence 1" project in Masdar City during the first quarter of 2021, where construction is in remarkable progress as 25 per cent of the work has been achieved. The project provides 612 apartments, with 310 studios, 256 One-room apartments, 44 two-room apartments, two 3-room apartments. The total area of the project is 8,371 sq m.
The company is also in the process of handing over the units in “Oasis Residence 2"project in Masdar City, which will provide about 300 residential units during the second quarter of 2022. They will also hand over the units of the "Gate" project in Masdar City, which will be started soon and will provide about 420 units during the second quarter of 2022.
The company is keen on developing new projects in Masdar City, one of the most sustainable cities in the world, providing sustainable services to the population. The city contains significant developments where many residential projects are under construction, as well as retail and office buildings. There are also some sustainable housing solutions that contribute to saving the environment and are in line with the Sustainable Development Goals.
Khamees also noted that construction work on "Al Raha Beach" projects is in progress with more than 20 per cent has been achieved. The company is developing "Al Raha Loft 1” project with 164 units, including 14 studios, 96 one-bedroom apartments and 31 two-bedroom apartments. The total area is 6,663 sq m. "Al Raha Loft 2" with 110 apartments, is in the process, including 22 studios, 52 one-bedroom apartments, 24 two-bedroom apartments and 12three-bedroom apartments. It has an area of 5,364 sq m.
"The work at "Al Raha Loft 1" and "Al Raha Loft 2" exceeds 28 per cent, and its units are expected to be delivered during the first half of 2021," said Khamees, adding that the two projects include retail spaces and facilities and services such as swimming pools, Jacuzzi, gym and tennis court.
He pointed out that the company is interested in studying distinct investment opportunities in Abu Dhabi, where it is considering developing new projects in a number of distinct investment areas on Al Maryah Island, Al Reem Island and Yas Island.
Khamees said that the company has recently completed the delivery of units in “Leonardo Residence” residential project in Masdar City, which provides 177 apartments, including 122 studios, 48 one-bedroom apartments, 16 two-bedroom apartments, and one apartment with three bedrooms. The total area of the project is 4,250 sq m. – TradeArabia News Service