Reportage Properties to handover three key projects in 2021
Residential projects in Abu Dhabi and Dubai to be handed over next year, with more in the pipeline for 2022, says developer
Reportage Properties, a UAE-based real estate developer, has announced that steady progress is being made on its key projects in Abu Dhabi and Dubai, with three to be handed over next year.
In a statement, the Emirati developer said that eight new projects are coming up in the UAE, including six in Abu Dhabi – located in important investment areas such as Masdar City, Al Raha Beach and Al Maryah Island. Two other projects are in Dubai, it added.
Reportage highlighted that three key projects in Abu Dhabi – Al Raha Loft 1 and Al Raha Loft 2 at Al Raha Beach and Al Waha Residence 1 at Masdar City – will be handed over next year, adding 900 new housing units to the emirate.
Construction works on the Al Raha Loft 1 project, which offers 164 housing units, has reached 62%, while the 110-unit Al Raha Loft 2 has reached 68% completion, the company said. It is expecting to deliver both these projects during the first half of 2021, it added.
Work is also progressing well on the company’s projects in Masdar City, where 54% of the Oasis Residence 1 project, which provides 612 apartments, has been completed. It expects to deliver this project during the second quarter of 2021, it said. Furthermore, about 15% of its Oasis Residence 2 has been completed. The 304-unit development is on track for delivery during the second quarter of 2022.
CEO Nasser Al Khamis emphasised on the Emirati developer’s commitment to complete these projects on schedule, despite the challenges associated with the outbreak of COVID-19.
“Al Raha Loft 1, Al Raha Loft 2 and Al Waha Residence 1 will be completed next year, while the remaining projects are set to be handed over in 2022 and 2023,” he stated.
COO Islam Ahmed Suleiman said work is also moving at a steady pace on four of its recently launched projects – The Gate in Masdar City, and Al Maryah Vista on Al Maryah Island in Abu Dhabi, as well as Rakan and Alexis in Dubai, with Suleiman adding that 12% of the Phase I of the former project has been completed and is expected to be delivered by the second quarter of 2022.
For the Alexis Tower project, Suleiman said that about 15% of the work on the recently launched Downtown Jebel Ali development has been completed. The 370 luxury-housing-units project is likely to be delivered by the last quarter of 2022, he added.
