Abu Dhabi based Reem Investments plans to invest AED 2 billion

Abu Dhabi based Reem Investments plans to invest in phases at least AED 2 billion over the next 2009 - 2010 [report by: David Nepo]
News Source: Offshore Bank

AbuDhabibanker.com : Abu Dhabi based Reem Investments plans to invest in phases at least AED 2 billion over the next 2009-2010 years to develop its two mixed-use real estate projects in the emirate - Najmat and Rawdhat - a company executive said on Thursday. 2008 alone, a minimum AED 600 million will be spent on both these projects to develop their infrastructure,” Naseem Seddiqi, chief operating officer of Reem Investments, told press in an interview at Cityscape Abu Dhabi 2008. “This year we have to complete the infrastructure for Najmat and Rawdhat,” he said. “End users may start getting possession of their units by the end of 2010 on Najmat.”

Najmat is being built on Abu Dhabi’s Al Reem Island. The estimated AED billion project will occupy approximately 20 per cent of the island, occupying 16 million square feet. It will house around 80,000 residents. The project is 80 per cent residential, while the remaining is commercial - a mixture of office and retail segments.

Reem Island is a residential, commercial and business project on Al Reem Isle, a natural island 600 meters off the coast of Abu Dhabi. The development will be connected to the Abu Dhabi city island by 2 or 3 bridges and be located 20 minutes from the Abu Dhabi International Airport thanks to the modern bridges linking Reem Island to the city. In addition, Reem Island is connected to the city through the main Abu Dhabi road. Elegant domestic designs and top-ranked hotel and shopping mall that you can find in Reem Island. Several of the execuite villas have architectures that will remind you of Spanish and Moroccan houses. While the other villas in Reem Island have perfect design art work and has modern figure and form that come in different sizes and most expensive prices.

Reem Island will cover an area of 68 million square feet. The Reem Island is estimated to accommodate 280 thousands residents and will include schools, medical clinics, shopping malls, restaurants, a 27-hole golf course, hotels, resorts, spas, gardens, and beaches. Property available on Al Reem Island will be on a extendable 99-year leasehold basis. Reem is surrounded by the clear azure magnificence of the Arabian Sea, Reem Island is an invigorating, world-class and picture-perfect spot which is excellent for a vibrant lifestyle that is free of Abu Dhabi city hustle and crowed. Reem Island’s perfection makes it one of the ideal sites to roll out work, leisure and home into one, spread with so much time to enjoy. Reem Island is a paradise on earth where you can enjoy or work in the most excellent and peaceful environment. Covering 6.5 million square meters, Reem Island will house 200 thousand residents or workers on the island. By the year 2009 Reem Island will rise as the leading residential, business and commercial hub in the city.

Al Reem Island Divisions
Pearl of the Emirates which is 60% of Al Reem Island, whose first phase is estimated at US$ 545 million which includes 15 towers and a 5 star hotel.

Al Shams Abu Dhabi local called “The Sun of Abu Dhabi” 14.2 million square feet to be completed by 2011.

Najmat Abu Dhabi the local name The Star of Abu Dhabi US$ 8 billion urban waterside community development by Al Reem Investments covering 20 million square feet to accommodate 80 thousand to be completed by 2012.

Pearl of the Emirates the “Marina Square” covers 13.2 million square feet of Pearl of the Emirates, with 70% residential and 30% commercial districts expected to be complete by 2009. It will contain a collection of 14 high-rise waterfront towers including Marina Heights 1 and 2, 49-floored Tala Tower and 43-storeyed Ocean Terrace Residence.

Addax Port - AED 6.5 billion development on the Pearl of the Emirates with 5 towers (Office Tower, Park Tower, Marina Tower, Executive Tower, and Light Tower), 4 of which are residential and 1 will be commercial.

Expected Completion Date - In 2008
Location - Abu Dhabi, United Arab Emirates