New project to boost UAE’s realty

Sajjad Ahmad, Gulf Today

The UAE property sector is getting momentum as more developers are launching new projects to boost the industry and mitigate the impact of COVID-19. Reportage Properties, the leading real estate development company based in Abu Dhabi, revealed the launch of ‘Rukan’ Tower, which is the second phase of the ‘Rukan Lofts’ project that the company is developing in the ‘Dubailand’ area in cooperation with Continental Investment Co.

The project is scheduled to be completed and delivered by Q4-2022.

Rukan Tower provides about 488 residential units, distributed between studios, one-room, two-room and three-bedroom apartments.

Islam soliman, Chief Commercial Officer (CCO) of Reportage Properties, said that the launch of ‘Rukan Tower’ came after company’s success in achieving good sales from the first phase of ‘Rukan Lofts’, which was launched at the end of last year.

It included about 349 residential villas, with prices starting from Dhs575 thousand for the townhouse consisting of one room and a living room on two floors, and 895 thousand for the 2 bedroom townhouses

He pointed out that the company recently started construction works in ‘Rukan Tower’, where about 15% of the project has been completed.

Soliman stated that Rukan Tower is located in a community that enjoys excellent services, and is fully equipped to meet all needs of the residents, as there are large parks, shopping centers, cycling paths and a swimming pool, explaining that because of its location in Dubailand, Rukan Tower provides excellent connectivity for residents to many other major areas such as Downtown Dubai, Dubai Creek Harbor, and Dubai Marina.

Rukan Lofts is one of the major projects in the Dubai land region, as it is expected that, after completion of all stages, more than 1,200 residential villas, the project extends over a total area of 3 million square feet.

Studio prices in Rukan Tower start from Dhs280,000, Dhs390,000 for one-room apartments, and Dhs600,000 for two-room apartments.