Photo used for illustrative purpose.

Staff Reporter, Gulf Today

As per the latest report released by the Department of Municipalities and Transport (DMT), Abu Dhabi's real estate market sustained growth driven by investor optimism, recording 7,474 property transactions amounting to over Dhs22.51 billion.

The department's half-yearly report indicates that all kinds of land, buildings, and real estate were purchased, sold, and mortgaged.

DMT's real estate trading index shows 3,568 real estate purchase and sale transactions worth Dhs8.9 billion  and 3,906 mortgage transactions worth Dhs13.61 billion.

Meanwhile, a leading UAE real estate developer, is organising a special sales day at the Sofitel Abu Dhabi Corniche, on Sunday (July 31).

The event includes a special offer on some of the company's projects in Abu Dhabi and Dubai, including a 10% discount, 10% down payment, and 1% monthly installments  until hand over.

Islam Ahmed Suleiman, CEO, Reportage confirmed Reportage's interest in continuing to organize sales events, which include special offers that meet the requirements of buyers from all segments, which is boosting the company's continued strong sales in all projects.

Reportage Properties sales topped Dhs1.2b during the first half of this year, compared to Dhs704 million in the first half of 2021, a growth of 70%.

During the first six months of this year, "Reportage Properties" organised 4 successful sales events, during which the sales team managed to sell 197 housing units, with a total value of Dhs179 million.

Suleiman stressed that the company's strong sales during the first half of this year is a proof of the activity  improvement in the UAE real estate market, and its ability to overcome challenges. He  expected achieving stronger performance during the second half of 2022.

He said that the real estate market in the UAE is witnessing robust activity nowadays, with the successive issuance of many government initiatives aimed at enhancing economic activity.

The "Reportage Properties" portfolio in the UAE includes 14 projects, providing more than 6,000 housing units within the most important investment sites in Abu Dhabi and Dubai.

The company is developing 8 projects in Abu Dhabi, in the areas of Al Raha Beach, Masdar City, Yas Island, and Al Maryah Island, in addition to a project that has been completed and delivered in Masdar City, developing 5 projects in Dubai.