Al Reem Island

Aabar buys land worth Dh2.7bn in Abu Dhabi

Aabar Investments has signed an agreement to buy 14 land plots in Abu Dhabi from Green Emirates for a total of Dh2.7 billion (US$735 million). The plots are in several development projects such as Raha Beach, which is under development by Aldar Properties, the Rawdhat Abu Dhabi project by Reem Developers,... 

Construction contract on Tameer Towers ‘terminated’

Tameer yesterday announced they are reviewing the contracts for construction works on Tameer Towers on Al Reem Island, Abu Dhabi. Today, one of the contractors, Murray & Roberts, told Reuters the joint venture contract was terminated and costs associated with work already done would be covered. Murray... 

Tameer reviewing contracts on Tameer Towers

Dubai-based Tameer Holding is currently reviewing the construction contracts for the Dh5.87bn ($1.6bn) Tameer Towers on Al Reem Island, Abu Dhabi. According to The National, sources close to Tameer said they were planning to cancel the construction contracts with Al Habtoor Engineering, Murray &... 

List of ten Abu Dhabi projects worth $208bn

The organisers of Abu Dhabi revealed today a top-ten list of the most prestigious projects in Abu Dhabi. On the list are new cities, man-made islands and a light rail system. Despite the economic downturn, Abu Dhabi has been financially prudent and its sovereign wealth fund is estimated at $328bn. According... 

Aabar spends Dh5bn on Al Reem Island

Aabar Investments announced yesterday the purchase of 12 towers on Al Reem Island in Abu Dhabi at a total cost of Dh 5bn. The tower buildings will be located on six land plots within the Al Reem Island development area, and the purchase agreement is signed with Tamouh Investments, who owns 60% of the... 

Sorouh puts future developments on hold

Abu Dhabi’s second largest property developer is delaying new projects until current developments are complete because of the economic downturn. According to Property Wire, it is a sign that the general decline in the real estate sector that has hit the emirate’s neighbouring Dubai is clearly... 

Work on Dh20bn Al Ghadeer starts

Abu Dhabi-based real estate developer Sorouh Real Estate has started infrastructure works of the Dh20 billion-Al Ghadeer development, said a senior official. The project is located on the Dubai-Abu Dhabi border. “The company does not have any problem with regard to liquidity at present. It collected... 

Developers see challenges ahead

Despite tight credit weighing down on prices of property purchased in the secondary market, developers say a combination of continued strong demand and limited supply will sustain prices in the long term. Prices have dipped in the past few days after dramatic growth in the first half of the year as property... 

Mayadeen unveils Dh1.6b project in Abu Dhabi

National Ranges Company (Mayadeen), a Kuwaiti shareholding property development firm, has launched Aurora, its Dh1.6 billion landmark project in Abu Dhabi. Located in Shams on Al Reem Island, the project includes the construction of two residential towers, which will be 53 stories each and stand 208... 

Solace Properties unveils Dhs700m project

Solace Properties, an Abu Dhabi based developer, unveils Solace Livings, a mixed use residential and commercial tower valued at Dhs700m at Al Reem Island, Abu Dhabi. Solace Livings is an iconic 30 storey waterfront development located directly on sea in the Central Business District of Al Reem Island. The...