Sorouh Real Estate has launched its Dh500 million Central Park project, which will be a major feature of its Shams Abu Dhabi development.

“The Central Park project will be developed on more than 8.3 acres and will include 12 mixed-use towers, restaurants, water canals, lakes, recreational and sports complexes and parking lots designed to respond to the needs of residents,” said Saeed Eid Al Ghafli, chairman, Sorouh Real Estate said.
Infrastructure work will start in June, with the first phase scheduled for completion in 2009 and the full project expected to be finalised by the end of 2010. The project will provide both local and international investors with an ideal investment opportunity said Al Ghafli.
The Central Park is distinguished by its central setting in the midst of other local and international developments. Its location in the special economic investment zone of Al Reem Island also confers tax-free benefits on buyers as well as the ability to acquire 100 per cent ownership.
Shams Abu Dhabi was launched as Sorouh’s first prestige development. It is located on Al Reem Island, approximately 300 m across from the northeastern shore of Abu Dhabi city and will occupy over 1.560 million sq m, accounting for about 25 per cent of Reem Island. Residential projects will occupy 80 per cent of the overall space of the project while the remaining 20 per cent will be dedicated for commercial use and recreational facilities.
The first phase of the project is expected to be completed by 2009 and the full project is scheduled for completion in 2011. Shams Abu Dhabi will be home for about 70,000 people.