With the piling process completed on Al Zeina, the next step of laying the ground floor slabs is now being carried out.
Showcased at the fourth-annual Abu Dhabi Real Estate and Investments Show (IREIS 2008), the area of the Al Zeina precinct on display is set for completion as early as the fourth quarter of 2009. Upon completion of the precinct, Al Zeina will open its doors to reveal 137 villas, 116 townhouses, 779 apartments, all 1,032 units of which will be ready for residents at the time of handover.
"The Al Raha Beach development is a community that will enhance the already family-oriented Emirate of Abu Dhabi. This development will bring its residents closer to the natural beauty that Abu Dhabi has to offer such as its magnificent beach front," commented Ronald S. Barrott CEO ALDAR Properties.
"Al Zeina is unique, and contains its own character that will compliment the entire Al Raha Beach development. We are very pleased to be a part of this exhibition and to showcase Al Zeina."
Al Zeina contains luxury residential apartments, townhouses and villas, private boat moorings, retail high street with local supermarket and shops, one jetty restaurant, and several food and beverage outlets that will be located on the retail high street. The Al Zeina precinct also houses a 500-metre public beach; one of only five on the Al Raha Beach development. Landscaped gardens, luxurious shared gardens and open spaces will also be a significant part of the Al Zeina precinct.
Each of the eleven precincts on Al Raha Beach is unique in character with attributes that set it apart from the rest of the precincts. Al Zeina is the strategic gateway into the Al Raha Beach development, has themed gardens, and one of the only five public beach fronts. In this self-sustainable community, residents will have the option of engaging with the wider development via a canal network with serviced water taxis, or the LRT (light rail transportation), or carry out their daily life of shopping, eating and relaxing within their own neighborhood.
IREIS 2008 will be held at the Abu Dhabi National Exhibition Centre (ADNEC), and will take place from January 30th to February 2nd, 2008.
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Piling work complete on ALDAR's Al Zeina precinct
- United Arab Emirates: Wednesday, January 30 - 2008 at 14:59
- PRESS RELEASE
ALDAR, the renowned Abu Dhabi-based international property developer, is launching the mixed-use development Al Zeina which is the strategic gateway to the Al Raha Beach Development.
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About ALDAR Properties:ALDAR Properties PJSC is a premier real estate development, management and investment company with headquarters in Abu Dhabi, UAE. ALDAR was created to spearhead developments of Abu Dhabi's strategic sites was created to fast track real estate investment opportunities within Abu Dhabi and the Emirates in order to offer an opportunity to participate in the prosperity of this increasingly important industry in the UAE.
Since its inception in 2004 through a share offer (IPO) of Dhs1.5bn ($408m) on the Abu Dhabi Securities Market, ALDAR has already announced more than $60bn worth of developments. The ALDAR issue, the largest IPO in the history of the UAE at the time, was 448 times oversubscribed and raised an unprecedented Dhs373bn ($102bn) in demand. ALDAR's market capitalization is $3.5bn as of May 30th 2007. Total retail area across all developments is currently over 1.5 million square meters. The company is owned by leading Abu Dhabi institutions, founder shareholders and individual investors.
The current property portfolio includes major developments and re-developments within Abu Dhabi Emirate such as Central Market, Al Raha Beach, Coconut Island, Noor Al Ain, Al Gurm Resort, Al Mamoura - the Mubadala Development Company and Environment Agency Abu Dhabi Headquarter Building, and the YAS Island project which is to include a Warner Bros and a Ferrari theme park.
ALDAR's first international expansion was announced in August 2007 via a tie-up with South Johor Investment Corp (SJIC) in a deal that represents the largest foreign real estate development in Malaysia. This was followed in October 2007 with plans announced to build a mixed-use development in Kazakhstan.
For more information, please contact:
Shali Akkaraju
Buchanan Middle East
Posted by Lara Lynn Golden, News EditorWednesday, January 30 - 2008 at 14:59 UAE local time (GMT+4)
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