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"The launch of the Marina Rise is part of Eshraq Properties' confidence in the Abu Dhabi's growing property market. Our ultimate goal is to create an urban development which consists of luxury residential apartments with sufficient recreational facilities that has never seen in UAE, office towers which goes beyond concrete blocks, canal side corniche as well as one of the biggest malls in the island. Marina Rise is an expansion of our vision to offer investment and residential opportunities which will be benchmarking Dubai Marina's success,"
said Chairman Saleh Al Amri.
Construction of Marina Rise will have begun by October 2007 and will be completed by 2010 through many stages to assure a quicker return on the investment for the buyers. Upon completion, the project will house luxury residential sand leisure facilities consisting of three high-rise towers featuring waterfront apartments. The project will offer studio, one and two bedroom flats with a spectacular river and sea views including boutique retail shops as well as four office towers.
"Designed to suit many different discerning tastes, each apartment, retail space and offices at The Marina Rise will be built according to the highest specification and design using the best materials. We have worked very closely with New York-based design firm Khatib & Alami Design Group, to ensure that each product offers every modern amenity in a chic and functional setting. The Marina Rise, without doubt, symbolizes the aspiration of modern living, smart corporate office developments and boutique retail offerings" said Vice President Jamal Al Sagher.
Parallel to the launch of its mega project Marina Rise, Eshraq properties signed a 1 Billion private stock offering which will be managed by Abu Dhabi Islamic Bank. Stocks will be offered to exclusive investors through ADIB and aims to raise further capital growth upcoming projects.
Posted by Anne-Birte Stensgaard, Senior News Editor
