The real estate market in the country is witnessing a huge surge in sales.
Inayat-ur-Rahman, Business Editor
The UAE real estate market is on a solid growth track due to huge demands, higher returns and strong investors’ confidence.
Reportage Properties, a leading UAE real estate developer announced the completion of works in the first phase of the “Rukan Lofts1” project, which the company is developing in the “Dubailand” area in cooperation with the “Continental Investments” company.
On Monday, December 26, 2022, Reportage will hold a special ceremony on the occasion of the completion of the project and its handover of “Rakan Lofts 1” in “Dubailand”.
The company will hold a completion ceremony at Rukan Lofts in Dubai Land.
The “Rukan Lofts 1” provides about 349 premium villas, while “Rukan Lofts 2” provides about 305 villas. The “Rukan” tower also includes about 488 housing units, distributed among studios, one-, two- and three-room apartments.
Islam Ahmed Suleiman, CEO, said that the completion of the “Rukan Lofts1” villas reflects the company’s ability to implement all their projects according to the specified schedule, which enhances investors’ confidence in their projects and the UAE real estate market in general.
He said that the completion and handover of the “Rukan Lofts 1” project represents a new episode in the process of “Reportage’s” achievements, after the company recently started handing over the “Al Raha Lofts” project in Abu Dhabi.
He pointed to the distinguished location of “Rukan Lofts” in the “Wadi Al Safa 7” area in Dubailand, close to the Arabian Ranches, and to the most prominent shopping centers, golf courses, and entertainment complexes.
Rukan Lofts is one of the major projects in Dubailand, as it includes more than 800 perfectly designed townhouse units, spanning an area of 2.6 million square feet, and consisting of more than 70% of open and green public spaces that create an ideal home environment for the family.
The real estate bulletin showed that real estate transactions in Q1 2021 achieved a significant growth of 27 per cent and 47 per cent compared to Q1 2020 and Q1 2019, respectively.
The Dubai property market is on a solid growth and is marching ahead bucking the global trends. The realty market is active in the recent weeks due to an increase in demand for housing units, in line with the success of Dubai Expo 2020.
The real estate and properties transactions valued at Dhs6.8 billion in total during the week, according to Dubai Land Department. 330 plots were sold for Dhs1.65 billion, 1,653 apartments and villas were sold for Dhs3.42 billion.
The two leading local developers have put UAE on the global map with world-class, sustainable and futuristic projects like Maryam Island and the Kalba Waterfront, which are redefining the global outlook towards urbanisation and renewal.
The flagship free zone has launched the new coins in partnership with Czech Mint as part of the 2023 gold focus. The coins will be made available for purchase after Ramadan.
Dubai International Financial Centre (DIFC), the leading global financial centre in the Middle East, Africa and South Asia (MEASA) region, on Tuesday