UAE’s property sector growing despite challenges of pandemic – Gulf Today

UAE’s property sector growing despite challenges of pandemic – Gulf Today

UAE's property sector growing despite challenges of pandemic

3 hours ago

The developer has 8 UAE projects, including 6 in Abu Dhabi as well as two projects in Dubai.

Sajjad Ahmad, Gulf Today

The UAE's property sector performing well in the current challenging times of COVID-19 pandemic. The UAE government has announced various incentives and initiatives to mitigate the impact of coronavirus on national economy.

Reportage Properties, the leading real estate developer, announced a Dhs402 million sales in the first half of 2020, a growth of 200% compared to Dhs137 million for the first half of 2019.

The company's continuous economic incentives since the beginning of the current crisis, as well as real estate financing facilities and the abolition of more fees, boosted the company's sales, said Nasser Al Khamis, CEO of the Reportage Group of Real Estate Companies.

The developer has 8 UAE projects, including 6 in Abu Dhabi, within the areas of Masdar City, Al Raha Beach and Al Maryah Island, as well as two projects in the Emirate of Dubai.

Al Khamis said, "The company's new projects, especially in Dubai, boosted the sales increase during the six months of 2020.“

He added, "We achieved strong results despite the challenges related to the outbreak of COVID19, which