Reem Investments has unveiled the Dh30 billion residential and commercial projects for residents and expatriates on Abu Dhabi's Al Reem island. Expatriates can buy and sell property on 99-year lease. The project will include modern civic infrastructure, schools, health facilities, five-star hotels and public parks, a number of 40-50 storey buildings along with two 80-storey commercial towers in the backyard of the capital city; Abu Dhabi.
 |
| Abrahim Bel Selah, CEO Reem Investment, showing the project to a visitor |
The response to pre-sales of the mega project has been out standing. Abrahim Bel Selah CEO, Reem Investments said "Najmat Abu Dhabi will host a new generation population of more than 80,000 when it is complete in 2012 with the infrastructure and first homes ready for occupation in 2008," he said at the second International Real Estate and Investment Show that started yesterday.
"The project is being built on 20 million square feet on Al Reem Island; 300 meters off the north-eastern coast of the capital will dedicate 50% of the land to open spaces, public parks, playgrounds and shaded walkways. The development centers around three districts - business, art and village. It is designed to create a self-sustainable new community." added Abrahim Bel Selah.
Reem Investments, a private company, is one of three developers that own rights to develop the Al Reem Island. The other two are Tamouh Investments and Sorouh Real Estate.
(Source: Gulf News)
