A statement by Reportage Properties on Monday said it experienced a 105 percent gain in sales as a result of increased investors’ interest from around the world this year.
Its statement said it recorded Dh1 billion sales during 2021’s first eight months, compared with Dh488 million in the same period last year.
According to Reportage Properties’ CEO, Islam Ahmed Suleiman, the increase in sales this year is a remarkable achievement, despite the challenges imposed by the effects of the Covid-19 pandemic.
“The triple-digit sales growth reflects the stability of the company’s conditions and the strength of their financial position, as well as their success in making attractive offers. The various facilities of the projects also give the sales an additional boost,” Suleiman said.
Approximately 6,000 housing units are being constructed in Abu Dhabi and Dubai by Reportage Properties. The company recently launched its Al Maryah Vista 2 project, which will provide 588 new residential units on Al Maryah Island in Abu Dhabi. Prices start at Dh329,000 per unit.
According to Suleiman, continued growth in sales is a strong indicator of an improving real estate market as well as the beginning of the sector’s recovery following the pandemic.
According to Reportage Properties, the company achieved Dh812 million in 2020, a 125 percent increase over 2019.
Suleiman says the construction works of all the company’s projects are progressing, which will help the timely handover of units to purchasers, improving investor confidence.