Real Estate

Saadiyat Lagoons ... high-end residences.

Saadiyat Lagoons ... high-end residences.

News in brief

May 2016

Nature inspires Saadiyat Lagoons District

Abu Dhabi-based master developer Tourism Development and Investment Company (TDIC) launched Saadiyat Lagoons District at Cityscape Abu Dhabi 2016, which was held last month (April 12 to 14) at the Abu Dhabi National Exhibition Centre (Adnec).

Saadiyat Lagoons District is a 6-million-sq-m nature-inspired, mixed-use development featuring mixed residences, extensive parks and lakes, diverse community facilities including pathways for walking, running, cycling, and horse riding.

TDIC’s stand highlighted high-end residential communities, educational, hospitality and cultural projects in Abu Dhabi and on Saadiyat.

Potential investors and homeowners were given the opportunity to register their interest for the upcoming sale of Lagoons District, Phase One. Visitors also received updated information on the current developments taking place on Saadiyat, including the internationally-anticipated Louvre Abu Dhabi in addition to a taste of the museum’s famous rain of light effect through light simulation. 

To date, TDIC has developed a range of high-end properties on Saadiyat including the Saadiyat Beach Residences and the Saadiyat Beach Villas.

 

Reem Mall ... an artist’s impression.

Reem Mall ... an artist’s impression.

Al Farwaniya gets licence under new law

Al Farwaniya Property Development has received its developer licence from the Abu Dhabi Department of Municipal Affairs under the provisions of the new Real Estate Law which came into effect on January 1 this year.

The company is a partnership established between National Real Estate Company (NREC) and UPAC – both Kuwait based – for the development of Abu Dhabi’s major new up and coming retail, leisure, dining and entertainment destination Reem Mall in Abu Dhabi, UAE.

Reem Mall is poised to deliver an unprecedented retail, food and beverage as well as a family-focused entertainment offering spread across 2 million sq ft of leasable space with a total floor area of more than 2.8 million sq ft. It comprises around 450 stores including 85 food and beverage outlets The mall is expected to open in late 2018.

 

Sweid & Sweid to take on Oracle

Sweid & Sweid Development, the Dubai-based boutique real estate firm, has signed a major 10-year lease agreement with technology giant Oracle for The Edge, a new grade-A commercial building in the heart of Dubai Internet City in the UAE emirate.

The lease agreement covers five of the six floors, comprising approximately 75,000 sq ft. Oracle is establishing a Dubai hub for its Middle East cloud computing operations and will be launching a recruitment drive for employees to be located in the building. The Edge, which will see construction complete in Q2 this year, offers bespoke modern and efficient office space that addresses the demand for single-owner, large floor plate commercial space in Dubai. It comprises 100,000 sq ft of gross floor area over seven storeys. In addition, the building boasts more than 90,000 sq ft of underground parking space, offering its tenants one of the highest parking-to-office ratios in the area.

In line with its development strategy, The Edge was fully funded prior to commencing construction. The building was designed by Brewer Smith Brewer Gulf (BSBG), a leading architecture, engineering and interior design group with over 35 years of experience in the UAE.

 

Sobha Hartland ... spacious.

Sobha Hartland ... spacious.

Sobha sets date for completion of first units

Sobha Group has announced that the first units of its Sobha Hartland urban mixed-use development at Mohammed Bin Rashid Al Maktoum City in Dubai, UAE, will be completed starting from December 2017.

The development comprises ultra-contemporary L-shaped villas with an option of 12 floor-plans, semi-detached villas, townhouses, plots and modern high-rise apartments with an emphasis on space.

“The development will be crafted with the same attention to detail that Sobha developments are renowned for following the group’s mission ‘No shortcuts to quality’,” says a spokesman.

Within in the development, residents will have access to two international schools, one currently in operation, nurseries, malls, cafes, tennis courts, yoga centre, swimming pool, clubhouses and spa’s, mosques and healthcare facilities.

Apartment’s prices start from Dh1,520 ($413) and the villas from Dh2,006 ($546) per sq-ft. A limited duration special payment plan on the L-shaped villas and modern high-rise apartments is available.




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