Reportage Properties, the leading UAE real estate developer, announced record sales estimated at approximately AED 5.65 bn ($1.5 bn) from January until the end of 2024, representing a growth of more than 50% compared to the same period last year, Invest-Gate reports.
The “Reportage Properties” portfolio includes 50 projects in the UAE, Egypt, Turkey, Morocco, Saudi Arabia, East Africa (Rwanda, Uganda), and Azerbaijan.
Andrea Nucera, Managing Director of Reportage Properties, confirmed that the company has continued its outstanding performance during 2024, as evidenced by the increase in sales. This demonstrates Reportage Properties’ ability to keep pace with market changes and launch new projects that meet the diverse needs of buyers.
He noted that the UAE real estate sector is vibrant, with increasing demand, especially from foreign investors who prefer the UAE real estate market. This trend enhances the company’s plans to launch more projects. He confirmed that the company continues to explore promising opportunities in the region’s markets as part of its strategy to expand both inside and outside the UAE.
Nucera stated: “We are approaching the close of 2024 with great optimism. Not only have we achieved all our pre-set targets, but we have also strengthened the company’s organization to support further growth. For 2025, we aim to achieve a sales volume of AED 7.34 bn ($2 bn), expand into two new countries, and launch several exciting projects in the UAE with an inventory valued at AED 20 bn ($5.45 bn).”
Notably, Reportage Properties sales topped AED 3.7 bn ($1 bn) during 2023, compared to AED 2.3 bn in 2022, reflecting a growth exceeding 60%.
This achievement is particularly significant considering Reportage’s unwavering commitment to a ‘zero-leverage’ and ‘debt-free’ strategy. Each project is developed without reliance on mortgages or any form of leveraged financing, ensuring the company’s resilience and sustainable long-term stability in the market.
Beyond the impressive numbers, this success cements Reportage Properties’ position as a leader in the UAE real estate market. By offering flexible payment plans, prime locations, and innovative housing designs, the company has earned the trust and loyalty of its customers, setting the stage for continued growth as it focuses on future projects with advanced designs.