Tuesday July 26, 2022
UAE developer records Dhs1.2 billion sales in H1
Picture used for illustrative purpose only.
Inayat-ur-Rahman, Business Editor
Reportage Properties, the leading UAE real estate developer, announced sales of Dhs1.2bn during the first half of this year, compared to Dhs704 million during the first half of 2021, a growth of 70%.
Islam Ahmed Suleiman, CEO, Reportage Properties said that the company continued its strong performance during 2022, after 2021 sales of Dhs1.6b, with a growth of up to 100% compared to 2020, which reflects Reportageâ€™s ability to keep pace with market changes, and their flexibility to challenges, while continuing to launch new projects that meet customer needs and requirements.
Suleiman explained that the company launched their new â€œVerdanaâ€ project in first half of this year within the Dubai Investments Park. The new project consists of 305 luxury townhouses, with 4 rooms each and areas ranging between 2730 and 3,855 square feet.
The project extends over an area of 500,000 square feet, and includes many facilities and services such as swimming pools, a gym, private parking for each unit, and various green spaces.
Suleiman stated that the company organized 4 successful sales events in 2022, during which the sales team managed to sell 197 housing units.
He noted that the increase in â€œReportage Propertiesâ€ sales during the first half of this year marks the improvement of activity in the UAE real estate market, and its ability to overcome challenges, thanks to the continual initiatives stimulating economic activity in various sectors, especially the real estate sector.