Mayadeen launch first Shams Abu Dhabi project and opens for bookings

Located in Shams Abu Dhabi on Al Reem Island, the project is made up of 2 residential towers.

The North Tower and South Tower will be 53 stories each, raising 208 meters high, providing a total 960 apartments ranging from one bedroom to four bedroom penthouses and duplex rooms.

There is also a 14 storey commercial tower offering 112,000 sq. feet of commercial space ranging in size from 4,100 to 8,500 sq. feet.

A canal promenade with retail space and a 12 storey intelligent state of the art parking building that can accommodate 1,674 cars are included for residents' convenience.

Smart Park is the first fully automated system of its kind in Abu Dhabi and one of the largest in the world.

The total value of the project is $450m or Dhs1.6bn.

Mayadeen CEO Eng. Naser Ali Al-Attar said that the initial phase of shoring and piling work is complete and the company is currently in preparation for the second phase, which will include the foundation structure and MEP work.

"Mayadeen has signed with five contractors for this project and progress is on schedule," he said "This is in line with Mayadeen's strategy to not launch or sell a project until contractors have been signed and the construction work is well on its way."

The Shams Abu Dhabi project on Al Reem Island was chosen by Mayadeen as it represents a promising investment opportunity.

"According to a number of industry reports, the demand for residential units in Abu Dhabi is far higher than the supply, which is constantly on the increase," Al-Attar explains.

"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."

Shams Abu Dhabi is set to become part of what is being touted as "New Abu Dhabi".

A concept which will include a number of hospitals, hotels, schools, retail outlets and family entertainment centres, creating a new self-sustained city designed around canals and parks, integrating world-class master planning practices and extending the lush greenery of Abu Dhabi's landscape.

It will cover approximately 25% of Al Reem Island, of which 90% of the project will consist of residential areas accommodating up to 45,000 people.