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Reem Developers to build three world-class marinas in flagship project, Najmat Abu Dhabi
- United Arab Emirates: Sunday, January 28 - 2007 at 16:37
- PRESS RELEASE
Reem Developers, a leading property development company, will build three world-class marinas that will form the cornerstone of its flagship project, Najmat Abu Dhabi, which is well on course to becoming Abu Dhabi's landmark urban development.
The tender for marine works, which was opened earlier this month, also covers the construction of Pontoons, Canals, Reclamation works and Rock Revetment. The tender is expected to be awarded next month following a detailed evaluation and assessment process. The marine works is then expected to be completed within the next 18 months.
The three marinas that will be built in Najmat Abu Dhabi - Bay Centre Marina (250m diameter), Residential Marina (200m diameter) and Resort Marina (180m diameter) - are linked by a canal which traverses the spine of the sprawling development from northwest to south east.
The Bay Centre Marina, the largest of the three Marinas, will be the business, entertainment and retail hub of Najmat Abu Dhabi. It will include a range of facilities including one of the biggest and most exclusive shopping mall in Abu Dhabi, two signature towers featuring a mix of office, retail and residential space, plus two five-star boutique hotels.
The Residential Marina will boast waterfront shops, cafes, restaurants and public art galleries, offering a broad range of activities and themes that will help create a vibrant ambience around the cosmopolitan residential properties nearby.
The salient feature of the Resort Marina will be an exclusive resort with a private beach that will be developed alongside resort-like residential homes, with most of them enjoying water views.
The marinas and canals will allow future use of boats and water taxis within the development. The canal works involve the construction of quay walls spanning a length of 2300m.
The reclamation works will create three island parks complete with edge treatment in the form of rock revetment. The landscaping of the island parks will be included in the next tender package.
A spokesperson for Reem Developers, said: "The opening of the tender is the first major step this year for Najmat Abu Dhabi, a world-class project that has generated tremendous interest in the investor community. The awarding of the contract for marine works will start the process for building the three marinas. It is the first time that an island project of this size and scope has been attempted in the UAE. We are aiming to create a sophisticated seafront living community in Abu Dhabi that incorporates the tradition and heritage of the UAE, as well as embracing modernity".
The AED 30 billion Najmat Abu Dhabi, or "Star of Abu Dhabi" is the maiden project of Reem Developers, the real estate subsidiary of Reem Investments, one of the leading private investment firms in the UAE. Najmat Abu Dhabi is being developed on Reem Island, one of several natural islands, located just 300m off the coast of the mainland of Abu Dhabi, the capital of the UAE.
Najmat Abu Dhabi is community focused project, which has a mixture of traditional and contemporary architecture, Najmat also boasts of having one of the best conceptualised master plans in the region, and has attracted the attention of several investors from the GCC, Far East, South Asia and Europe.
Najmat Abu Dhabi's development plans focus on business, leisure and residential areas, designed to create a self-sustainable community development. The project will include progressive infrastructure, educational campuses, health and well-being facilities, plus retail and hospitality destinations.
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Notes and media contacts
Reem Investments PJSCEstablished in 2005 with a capital base of AED 1. 55 billion, Reem Investments is one of the leading private investment firms in the UAE. Reem Investments' activity focuses on investments in Private Equity as well as direct Investments. It pursues a diversified investment strategy mainly in the GCC area, India, China, and Morocco. In Private Equity opportunities, Reem Investments seeks a strategic minority equity stake and focuses on sectors such as energy and power, pharmaceuticals and telecommunications. Reem Developers is a fully owned subsidiary of Reem Investments, and has been established to achieve the investment objectives of Reem Investments in the real estate development sector. Another fully-owned subsidiary is Reem Energy Investment services, which was established to achieve the investment objectives in oil, gas, power projects and energy companies and has established strategic partnerships with key players in the UAE and the region.
For further information please contact:
Mario Samaha
Head of Marketing & Sales
Reem Developers
P O Box 39646, Abu Dhabi, UAE
Call: +9712-644 4455
For media queries please contact:
Rabie Al Faqih/Anosh Ahamath
PanGulf PR
Tel: 04 2953456
Fax: 04 2951027
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