Construction

Reportage Properties commences construction for key Yas Island residential project

736-unit Diva residential property expected to be completed by the end of 2024, developer says

Reportage Properties, a leading real estate developer in the UAE, has announced that construction work has started on its key residential project, which features a total of 736 new housing units on Yas Island in Abu Dhabi.

Construction work on the Diva project started in October 2021 and is set to be completed and handed over by the end of 2024, the developer added. The project will feature several key amenities including a swimming pool, gym, dedicated parking, a children’s play area, green spaces, and an exclusive area for pets, amongst others.

The developer said that it currently has 12 projects in the UAE underway, which will add nearly 6,000 new housing units within Abu Dhabi and Dubai, in addition to a project that has been completed and handed over in Masdar City in Abu Dhabi.

CEO Islam Ahmed Suleiman stated that Reportage remains committed to implementing projects and continuing with the construction works despite the challenges posed by the Covid-19 pandemic.

“Our sales for the first eight months had topped $272 million compared to $132.8 million for the same period last year, thus posting a growth ratio of about 105%” he stated.

For 2020, the sales had exceeded $221 million posting a growth ratio of 125% compared sales figures of $98.5 million the previous year.

Suleiman pointed out that its Diva project was in high demand, thanks to its attractive rates with each housing units priced at AED510,000 onwards. In addition to this, its strategic location has come to its advantage with several facilities and recreational landmarks such as Ferrari World Abu Dhabi, Yas Waterworld, and Warner Brothers located nearby.

The island is today one of the most sought-after tourist attractions and entertainment in Abu Dhabi, he added.

Suleiman stressed that the real estate market in Abu Dhabi is robust with remarkable activity in regard to the demand for buying real estate, especially with the successive initiatives and measures stimulating the national economy, as well as the launch of “50 Projects” initiative, which contribute to boosting the recovery from the repercussions of the “Covid-19” pandemic.

Reportage Properties have recently made a special offer on 4 projects under construction in Abu Dhabi, which includes a 5% discount, with only 1% paid until handing over, and without down payment, said the top official.

The four projects are The Gate, which is being developed in Masdar City, Al Maryah Vista 1 and Al Maryah Vista 2 ,on Al Maryah Island, in addition to the Diva project on Yas Island, he concluded.

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