By: Mahmoud Gamal
Reportage Properties, a real estate firm based in Abu Dhabi, plans to deliver its latest project, Al Waha Residence located in Masdar City, in the second quarter of 2021, the company’s CEO of operations Islam Ahmed Sulaiman revealed.
The construction work at Al Waha Residence project, which will feature 612 units, has notably progressed, Sulaiman added in an interview with Mubasher.
The company also aims to expand in Dubai, especially after Mohammed bin Rashid Al Maktoum, the UAE’s Prime Minister and Ruler of Dubai, recently unveiled the long-term residency scheme of the golden card, he said.
He also noted that the company has recently delivered the Leonardo Residence project in Masdar City, which boasts 177 apartments and spans a land area of 4,250 square metres.
Reportage Properties is one of the largest developers in Masdar City in terms of the number of projects it developed there, Sulaiman remarked.
The company has on-going projects in Abu Dhabi and Dubai, including four projects in Al Reem Island, Al Maryah Island, and Yas Island and two projects in Dubai Sports City and Downtown Jebel Ali, he indicated.
Most of the company’s projects will be delivered within three years, in which the customer can pay 36% of the property’s total price, he highlighted, adding that the remaining 64% can be paid over a five-year period at a rate of 1% per month.
He stressed that the real estate market in the UAE has been improving in line with the recently announced legislation and government decisions.
These decisions will attract further investors to the market and encourage developers to launch new projects, Sulaiman said.
Translated by: Mai Ezz El-Din