UAE – Mubasher: The sales of the Abu Dhabi-based real estate developer Reportage Properties totalled AED 260 million from January to April 2020, compared to AED 480 million in 2019.
Data showed strong real estate sales in Abu Dhabi and Dubai during the first five months of 2020 despite the coronavirus (COVID-19) pandemic, according to a recent press release.
The company is establishing 2,425 housing units in six projects in Abu Dhabi and 719 units in two Dubai projects.
Commenting on the company's transactions during the first five months, the Reportage Group CEO, Naser Alkhamees, said: "This reflects the UAE real estate stability, and the continued demand, especially for distinguished projects that provide high-quality services to investors."
The Abu Dhabi Department of Municipalities and Transport (DMT) revealed that Abu Dhabi's real estate transactions rose by 22% to AED 19.2 billion in the first quarter of 2020 from around AED 15.8 billion in the year-ago period.
Meanwhile, Dubai's real estate sales exceeded AED 24.75 billion from January to April.