Construction is set to begin early 2020 while phase one of the project is scheduled for completion in Q1 2022
Reportage Properties, an Abu Dhabi based real estate company has announced that it is set to begin construction on the first phase of residential villas in Dubailand, in collaboration with Continental Investment in Q1 2020.
The residential villas, called Rakan Lofts will offer 349 units for which prices will start at $156,556 for a one-bedroom townhouse with two storeys while the two-bedroom townhouses will start from $243,683, including the registration fee of 4 per cent.
The project is spread over an area of 278709 sqm., of which more than 60 per cent is open and green public spaces, while the project has been designed to provide cycling and walking paths, and other recreational and service facilities.
Nasser Al Khamees, CEO of Reportage Properties Group said that there were easy payment plans available for buyers where they can pay 10 per cent as down payment, then 10 per cent after a year, and then pay only 1 per cent per month for two years. The total payment at the time of hand over equals only 44 per cent of the whole cost.
Al Khamees said that the project’s location in Safa Valley 7 near Arabian Ranches, means that it is close to the most prominent shopping centres, golf courses and entertainment complexes, and is also close to the Expo 2020 site.
He further added that the real estate market in the UAE is expected to be stable during the current period, with strong indicators of improved demand with the start of the countdown to Expo 2020.
Reportage Properties is keen on developing projects that provide units of high quality and special specifications, as all the townhouses and villas in the project have been designed so as to comply with world-class practices, with Italian raw materials of high quality, Al Khamees concluded.