Mayadeen unveils Dh1.6b project in Abu Dhabi
October 28, 2008 by UAERush · Leave a Comment
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 meters high.
The towers will feature 960 apartments, ranging from one bedroom to four bedroom penthouses and duplex rooms. The project also includes the construction of a 14-storey commercial tower, which will offer 112,000 square feet of commercial space.
For the convenience of the future residents, the project will have a canal promenade with retail space and a 12-storey, state-of-the-art parking building that can accommodate 1,674 cars.
Engineer Naser Ali Al Attar, Mayadeen chief executive officer, said the initial phase of shoring and piling work has been completed and the company is currently in preparation for the second phase, which will include work on the foundation structure. “Mayadeen has signed with five contractors for this project and progress is on schedule,” he said.
Al Attar noted that the demand for residential units in Abu Dhabi is still outstripping the current supply.
“After the introduction of new laws and the establishment of a large number of local and foreign companies to the market, we are beginning to witness a large number of investments in Abu Dhabi’s real estate market and this looks set to continue over the upcoming decade,”
said Al Attar.
