Reportage to begin work on Dubailand villas
01 December 2019
Abu Dhabi-based Reportage Properties is set to begin construction on the first phase of Rakan Lofts in Dubailand in the first quarter of next year in collaboration with Continental Investment.
“The first phase of Rakan Lofts offers about 349 villas,” said Nasser Al Khamees, chief executive officer of Reportage Properties Group. “The prices of one-bedroom townhouses with two storeys, start from Dh575,000 ($156,500), while the two-bedroom townhouse starts from Dh895,000,all prices include the registration fee of four per cent.”
He pointed out to 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 handover equals only 44 per cent of the whole cost.
Al Khamees says the project’s location in Safa Valley 7, near the Arabian Ranches, means it is close to the most prominent shopping centres, golf courses and entertainment complexes. It is also close to the Expo 2020 site, one of the main factors of high demand for the project.
He expects the real estate market in the UAE to be stable during the current period, with strong indicators of improved demand with the start of the countdown to Expo 2020.
Al Khamees says the area of the one-bedroom townhouse is up to 1,060 sq ft with a total land area of 650 sq ft. The two-bedroom townhouse area is 1,970 sq ft, with a land area of up to 1,330 sq ft.
He adds that the first phase of the project will be delivered on schedule by the first quarter of 2022.
Rakan Lofts, which will provide more than 1,300 villas, spreads over a total area of 3 million sq ft, 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 designed to provide ample green spaces, cycling and walking paths, and various recreational and service facilities. It also features a commercial area and picnic areas.
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