The Abu Dhabi-based property firm said it recorded Dh1 billion sales during the first eight months of 2021 compared to Dh488 million in the same period last year

Reportage Properties on Monday said its sales surged 105 per cent this year as the prices rose due to increase in demand from the investors worldwide.

In a statement, the Abu Dhabi-based property firm said it recorded Dh1 billion sales during the first eight months of 2021 compared to Dh488 million in the same period last year.

Islam Ahmed Suleiman, CEO, Reportage Properties, said that the increase in sales is a remarkable achievement this year despite the challenges imposed by the repercussions 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.

Reportage Properties is developing 12 projects in the UAE, providing about 6,000 housing units in Abu Dhabi and Dubai. It recently launched the Al Maryah Vista 2 project, which will provide 588 new housing units on Al Maryah Island in Abu Dhabi, with prices starting from Dh329,000 a unit.

Suleiman confirmed that the company continual sales growth represents a strong indication of the improvement of activity in the real estate market, and the start of the sector's recovery from the repercussions of the pandemic.

Reportage Properties achieved Dh812 million during 2020, reflecting a growth of 125 per cent compared to 2019.

Suleiman pointed out that the construction works of all the company's projects is gaining progress, in preparation for the units to be handed over to buyers on the schedule, which enhances the investors' confidence .