Reportage Properties Achieves AED 5.65 Billion in Sales with 50% Growth in 2024

By Mahmood Elaraby From Economic Gate

Reportage Group, 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, with a growth of more than 50% compared to the same period last year.

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, confirmed that the company continued outstanding performance during 2024, which is evident in the increase in sales. That will prove “Reportage Group’s” ability to keep pace with market changes and launch new projects that meet the requirements of diverse segments of buyers.

He noted that the UAE real estate sector is vibrant with increasing demand, especially foreigners who prefer UAE real estate market, which 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 their strategy to expand inside and outside the UAE.

Mr. Andrea Nucera, Managing Director of Reportage Group, said: “We are approaching the close of 2024 with great happiness. Not only have we achieved all our pre-set targets, but we have also managed to strengthen the company’s organization to support further growth. For 2025, we aim to achieve a sales volume of AED 7.34bn (2 billion USD), expand into two new countries, and launch several exciting projects in the UAE, with an inventory valued at AED20bn (5.45 billion USD).”

Reportage Properties sales topped AED3.7bn ($1 billion) during 2023, compared to AED2.3bn during 2022, with a growth exceeding 60%.

This achievement is particularly significant considering Reportage’s unwavering commitment to a ‘zero-leverage’ and ‘debt-free’ strategy. Every 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 Group’s position as a leader in the UAE real estate market. By offering flexible payment plans, prime locations, and smart housing designs, the company has earned the trust and loyalty of their customers, setting the stage for continued growth as the company continues to focus on future projects with advanced designs.

As a leading UAE real estate developer, Reportage Group is keen to set the standards of contemporary urban living, not only within the UAE, but also on a global scale.

Reportage Group continued their success story this year in the UAE and regional markets, launching a number of new projects that include the “Reportage Village” in Khalifa City, Abu Dhabi, which provides 312 townhouse units, the “Reportage Tower” in Abu Dhabi also, and the “Taormina Village” at Wadi al Safa in Dubai. A new phase of the Verdana project in Dubai started lately with the “Najd” project in Saudi Arabia.

The group also signed agreement with Empire Holding Pakistan, the leading company in residential and commercial real estate, with the aim of enhancing cooperation between the two companies. The two partners established a new company, “Reportage Empire Pakistan”, which will explore possible real estate projects in the Pakistani real estate market and develop the necessary marketing plans to launch them. They adopt a long-term strategy for expansion at a well-studied pace.

Recently, RMS Capital Investment, a consortium of three Emirati, Azerbaijani and Turkish companies, announced the launch of their first project, which is a new phase of the “Verdana” project that Reportage Properties is developing in Dubai. The consortium, which includes the Emirati Reportage Properties, the Turkish Mesa Holding and the Azerbaijani Sabah Investment Group, plans to inject initial investments estimated at $600 million in the three markets.