Reportage Real Estate, the Abu Dhabi-based real estate developer, has revealed 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 the reportage group.
He stressed the company's commitment to complete all its projects in accordance with the schedule, which contributes to enhance investor confidence in trust projects, and attracts more investors to the real estate sector in Abu Dhabi, which is witnessing a state of stability, amid positive signs of improved activity in the sector, with the adoption of further measures Government laws and legislations that stimulate investment.
He explained that the company will deliver the Oasis Residence 1 project in Masdar City during the first quarter of 2021, where construction is progressing remarkably, with a completion rate of 25%, noting that the project provides 612 apartments, including 310 studios, 256 apartments One-room, 44 two-room apartments, two 3-room apartments, spanning an area of ​​8371 square meters.
He added that the company is also in the process of handing over the Oasis Residence 2 project in Masdar City, which will provide about 300 residential units during the second quarter of 2022, in addition to delivering the Gate project in Masdar City, which will be started soon and will provide about 420 units. Apartment, during the second quarter of 2022.
The company is keen on implementing new projects in Masdar City, one of the most sustainable cities in the world and providing sustainable services to the population. The city is witnessing significant developments in light of the continuation of the implementation of many residential projects, as well as retail and office space. Sustainable housing solutions that contribute to the preservation of the environment and are consistent with the Sustainable Development Goals.
He pointed out that the construction work on the reportage projects in Al Raha Beach is progressing by more than 20%. The company is developing the Al Raha Loft 1 project and offers 164 units, including 14 studios, 96 one-bedroom apartments and 31 two-bedroom apartments. 15 3-room apartments, 8 4-room apartments, covering an area of ​​6663 square meters. Al Raha Loft 2 is under development and offers 110 residential units, including 22 studios, 52 one-bedroom apartments, 24 two-bedroom apartments and 12 apartments. Three rooms, extending over an area of ​​5364 square meters.
The total business at Al Raha Loft 1 and Al Raha Loft 2 exceeds 28% and is expected to be delivered during the first half of 2021, he said, adding that the two projects include retail space, 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 the implementation of projects in a number of distinct investment areas on Al Maryah Island, Al Reem Island and Yas Island, pointing out the company's interest in developing quality projects and providing distinctive and unconventional services to customers.
He pointed out that the company recently completed the delivery of «Leonardo Residence» residential project in Masdar City, which provides 177 apartments, including 122 studios, 48 ​​one-room apartments, 16 two-room apartments, and one apartment with three rooms, and covers an area of ​​4250 land Square meters.