Reportage Properties offers new incentives for its projects
By Staff Report
Published: Tue 30 Jul 2019, 6:17 PM
Last updated: Tue 30 Jul 2019, 8:22 PM
Abu Dhabi-based real estate developer, Reportage Properties, has announced that it will be offering its 'Buy an Apartment and Get a Net Annual Return of 8 per cent for 3 Years' plan.
The new offer running till August 15, covers all projects in Abu Dhabi and Dubai.
"The offer enables customers to get a net annual return of eight per cent after delivery, without any service charges or maintenance fees for three years. The move will contribute to enhancing investor confidence in the company's projects," said Islam Ahmed Sulaiman, CEO of Operations at Reportage Properties.
He pointed out that the company received a positive response from investors immediately after the announcement of the offer, especially with an emphasis on the net annual return without any administrative, maintenance or services fees. Sulaiman added that the contract of sale includes a term ensuring the buyer will receive eight per cent annual return immediately after delivery, i.e. 24 per cent within three years, after paying the price of the unit, whether through personal or bank financing.
The CEO said that the company also provides customers with the opportunity to pay the value of the units in monthly instalments of one per cent of the total price for 100 months. The company will complete most of the projects within three years so that the customer pays 36 per cent of the total price during that period. The remaining 64 per cent will be paid over a period of five years, at the rate of one per cent of the remaining sum per month.
Reportage Properties is keen to provide a variety of innovative and tailor-made packages to suit all categories of the buyers and ensure that investors receive a good return on their investment in the real estate market. Sulaiman stressed the idea that the real estate market is robust nowadays, boosted by the new incentives offered by the UAE government, especially new legislation and government decisions that contribute to attracting more investors to the market and encourage developers to start new projects.
The company has recently completed the delivery of the Leonardo Residence project in Masdar City, which offers 177 apartments, including 122 studios, 48 one-bedroom apartments, 16 two bedrooms and one 3-bedrooms apartment. Sulaiman said that the company is also developing Al Waha Residence in Masdar City, where construction work is on schedule. The delivery of units in the project, which provides 612 units, is expected to start during the second quarter of 2021.
Sulaiman informed that the construction work is underway on Reportage Properties projects in Al Raha Beach, where the company is developing Al Raha Loft1, providing 164 residential units, and Raha Loft 2, providing 110 units.