Reportage Properties unveils Dh575,000 villa in Dubai

Abu Dhabi-based Reportage Properties is set to begin construction on the first phase of 'Rakan Lofts', which features one-bedroom townhouses with prices starting from Dh575,000.

The project is being developed in Dubailand, in collaboration with Continental Investment, in the first quarter of next year.

"The first phase of Rakan Lofts offers about 349 villas," said Nasser Al Khamees, CEO of Reportage Properties Group. "The prices of one-bedroom townhouses with two storeys, start from Dh575,000, while the two-bedroom townhouse starts from Dh895,000, all prices include the registration fee of four per cent."

He pointed out the easy payment plans available for buyers, where they can pay 10 per cent as down payment, then 10 per cent after a year, and then pay only one per cent per month for two years. The total payment at the time of hand over equals only 44 per cent of the total cost.

Al khamees said that the project's location in the Safa Valley 7, near the Arabian Ranches, means that it is close to most prominent shopping centres, golf courses and entertainment complexes. It is also close to the Expo 2020 Dubai site, one of the main factors of high demand for the project. He expected the real estate market in the UAE to stablise during the current period, with strong indicators of improved demand with the start of the countdown to Expo 2020.

The area of the one-bedroom townhouse is up to 1,060sqf, the building block is 820sqf per unit, with a garden of 240sqf. The total land area is 650sqf. The two-bedroom townhouse area is 1,970sqf, the built block is 1,290sqf per unit, with a garden of 390sqf, while the land area is up to 1,330sqf. He added that the first phase of the project will be delivered on schedule by the first quarter of 2022, confirming the fact that Rakan Lofts is one of the major projects that will provide more than 1,300 villas.

The project is spread over a total area of three million square feet, more than 60 per cent of which is open and green public spaces that create an attractive residential environment for the family. The project has been carefully designed to provide ample green spaces, cycling and walking paths, and various recreational and service facilities. It also features a commercial area consisting of retail spaces as well as picnic areas.

- business@khaleejtimes.com