Reem Developers and Al Farwaniya Property Development seal a deal on four iconic sea-front plots in Najmat Abu Dhabi

Reem Developers and Al Farwaniya Property Developments signed a sale and purchase agreement for four sea front residential plots in the iconic Najmat Abu Dhabi in the Reem Island.

Al Farwaniya will use the 1,340,000 sq ft land for its first ever real estate development- a high end luxury residential project.

The agreements were signed by Mr. Abdulhamid Saeed, Managing Director of Reem Investments and Mr. Khaleel Al Abdullah, General Manager, Al Farwaniya Property Developments in Abu Dhabi.

Commenting on sale of plots Mr Abdulhamid Mohammad Saeed, Managing Director, Reem Investments, said: "Najmat Abu Dhabi is our flagship project and we have been selective in choosing the developers that would be a part of this iconic development. We decided to forge a strategic partnership with Farwaniya Developments because they share our vision of developing landmark projects that blend cutting edge technology and modern architecture with the local culture and heritage. This has encouraged us to give them an opportunity to build within Najmat Abu Dhabi."

"Najmat Abu Dhabi's launch is in line with Abu Dhabi's emergence as one of most attractive investment options in the Middle East and the unveiling of Plan Abu Dhabi 2030 by the Emirate's forward-looking government. The phenomenal investor and buyer interest generated by the project validates its focus on business, leisure and residential areas which are designed to create a self-sustainable community development within a natural seaside setting. We are happy to announce that the interest in the project remains buoyant despite the current global economic slowdown", added Mr Saeed.

"We are delighted to be a part of Najmat Abu Dhabi, which is amongst the most iconic master developments both in the UAE and Abu Dhabi in particular. Being our first project, we intend to develop a high rise ultra-luxury waterfront residential project that complements the overall image of the master development and that of Reem Island. Envisaged to blend high end luxury with strategic location and panoramic view of the sea, the development is all set to emerge as one of the most sought after and prestigious residential address in the Reem Island", said Mr Khaleel Al Abdullah.