Better late than never for Abu Dhabi residents

Many Abu Dhabi residents wish that this new building program had got underway years ago but this event marked the start of a relief to the current undersupply of quality accommodation in the central city, for Marina Heights towers are the first of the capital's new residential projects being sold to both local and foreign homeowners.

Celebrating the milestone with Profile Group Properties were representatives from the projects' master developer Tamouh Investments, construction consortium ISZL, and a collection of local and expatriate residents who have purchased new homes in Marina Heights.

Stable market

Guy Sadler, Head of Marketing for Profile Group Properties, said, 'Real estate in Abu Dhabi is seeing promising growth, with investors gaining confidence in the emirate's ability to deliver on its promises. Abu Dhabi's market is stable, offers competitive prices not buoyed by speculation, and is rapidly coming into favor as a lucrative investment environment.

'The Abu Dhabi government and major developers are investing heavily in delivering key services, industries and infrastructure, the building blocks upon which a real estate market capable of delivering long term and sustainable appreciation can be built.

'Substantial manpower is now onsite to ensure that work on Marina Heights progresses on schedule, and that our investors will be opening the doors to their the new homes in 2009, as expected.'

Marina Heights

Marina Heights towers I and II, situated on Al Reem Island 300 metres off the coast of Abu Dhabi and diametrically opposite to the Abu Dhabi mall, offer a combined 86 floors with 704 apartments and four penthouses.

The luxurious towers will offer tastefully appointed amenities and fully equipped gymnasiums and fitness centres, outdoor swimming pools, smart home technology, 24 hour security and high speed internet access for each apartment. All apartments have large private balconies and offer uninterrupted views of the marina and water or central park gardens with Saadiyat Island in the distance.

Al Reem Island, situated north-east of the UAE capital, is one of the designated zones for investment by foreigners, and is soon to be one of the premier residential and commercial centers in the country.

The island covers over 6.5 million square metres of land, of which Tamouh Investments will develop 60 per cent, Sorouh Real Estate 20 per cent and Reem Investments the remaining 20 percent.

The Island's master plan hosts over 200 towers, with development to be carried out in multiple phases all the way up to 2023. Al Reem will eventually accommodate over 200,000 inhabitants living and working on the island, and will host Residential, Commercial, Retail, Recreational, Cultural, Educational and Medical zones.