Reportage Real Estate, a leading real estate development company based in Abu Dhabi, has announced the launching of “The Gate” in Massdar City, Abu Dhabi, with prices starting from 500,000 dirhams.
The company is organizing a special event on Saturday, January 18thfor project sales at Sofitel Hotel Abu Dhabi. There will be special offers and prices for buyers of the project as well as a 5% discount on the advance installment.
Islam Ahmed Soliman, Chief Operation Officer of Reportage, said that the real estate market in Abu Dhabi provides ideal opportunities for investment, especially in light of the availability of units at competitive prices and easy payment methods, while increasing indicators of improved market performance during the coming period.
The Gate project provides about 463 luxury residential units with 200 studios, 144 one-room and lounge apartments, 94 two-room apartments, 7 three-room apartments, in addition to two 4-room apartments and 16 townhouses.
Soliman stressed that launching the project came after a thorough study of market demand. He explained that the prices for studios in “The Gate” start from 506 thousand up to 570 thousand dirhams, the one-room apartment from 680 to 810 thousand dirhams, the two-room apartment from 970 thousand dirhams to one million and 99 thousand dirhams, three rooms from one million to one million and 420 thousand, while prices for four-room apartments start from 1.6 million dirhams, and the townhouses start from 1,8 million dirhams.
Soliman pointed out that the construction works of the project have started recently after the foundation works were completed, and that the project is scheduled to be delivered by the second quarter of 2022.
“The Gate” consists of a tower that extends to about 10 floors, a building area of 528 thousand sq. ft. providing all services and facilities such as gym, swimming pool, children’s playing area, reception area, car parking, and many more.
Soliman remarked that the company has received many requests from clients wishing to purchase units in the project immediately after the announcement of its launching, especially for the distinguished location of the project in Massdar City, the most sustainable city in the world, which contributes to enhancing demand, particularly for the availability of large residential units as well as the strong demand for living in Massdar City.
Sizes of Studios range from 330 to 498 sq. ft., one-room apartments range from 592 to 700 sq. ft., two-room apartments from 922 to 1965 sq. ft., three rooms with an area of 1771 sq. ft., the four rooms 2885 to 3162 sq. ft. while townhouses 3290 sq. ft. with private gardens.
Soliman hinted that “Reportage” was keen to provide easy payment methods for buyers as they can pay only 1% within 100 months, indicating that the units are fully furnished.
Soliman said that launching “The Gate” came after the delivery of “Leonardo Residence” project in Massdar City at the beginning of last year; a project that provided 177 apartments. The company implements the “Oasis Residence 1” project which will add 612 apartments, and “Al Waha Residence 2″ that affords about 304 housing units.
It is noteworthy that the list of “Reportage” projects also includes two projects in Al Raha Beach area in Abu Dhabi; these are “Al Raha Loft 1” that affords 164 units, and “Al Raha Loft 2” providing 110 housing units as well as “Al Maryah Vista” on Al Maryah Island; a project that includes 772 units. These are together with the “Rokan Lofts” project in Dubai which provides about 349 villas in the “Dubai Land” area.