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Zaya releases first completed Nurai Beachfront Estate for sale

  • United Arab Emirates: Monday, June 08 - 2009 at 14:23
  • PRESS RELEASE

Zaya, the UAE-based boutique real estate developer, announced the release of its first completed Beachfront Estate from its flagship project Nurai for sale, with a percentage of the proceeds being donated to two humanitarian organizations - the UAE Red Crescent, and Akshaya Patra.

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  • Zaya releases first completed Nurai Beachfront Estate for sale.
    Zaya releases first completed Nurai Beachfront Estate for sale.
"Deviating from our original plan to release the property next year, we decided to release this particular home for sale at this point, despite the economic slowdown, to reiterate our confidence in the regional real estate market and commitment to the local community," said Nadia Zaal, Co-Founder & CEO of Zaya.

"As the first home to be completed on Nurai, The Beachfront Estate is a premium property, and its sale will channel some much needed financial benefits to our chosen charity partners. In times of economic downturn, it is paramount that every organization takes responsibility for and works towards the revival of the local community."


The first Nurai home is one of the island's luxurious Shoreline Beachfront Estates - with a built-up area of approximately 12,960 sq ft (1,205 square meters), 6 bedrooms and 7 bathrooms, a double storey atrium, a private beach and a private pool - offering an expansive sense of space and spectacular views of the Arabian Gulf.

Zaal reiterated Nurai's solid investment potential as an ultra-luxurious, exclusive and sustainable private island community by saying: "Zaya's joint venture partners bring a wealth of experience and strong financial backing to the project, putting us in a confident position to face the current industry challenges. A shortage of properties of this calibre in the region means that investors can count on profitable returns and consistently high rental yields."

In creating a vibrant, well-planned and sought-after island development, Zaya expects the long-term equity of the properties to steadily appreciate, particularly with Abu Dhabi's financial stability and sustainable growing economy as the backdrop to Nurai.

One of the fastest growing cultural, entertainment and business capitals of the world, Abu Dhabi's GDP is expected to triple to about $300bn in 2025. The city's leading position is expected to continue over the next few years as the city's development plans continue aggressively.

Nurai, Zaya's flagship project, offers its residents a private island retreat combining tranquillity and seclusion just minutes away from this emerging city. The project consists of a combination of 31 beachfront estates, 36 water villas, and one boutique luxury retreat due for completion in Dec 2010.
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About Zaya
Founded in February 2008, Zaya is a UAE based boutique developer specialising in high-end real estate with offices in Abu Dhabi and Dubai. Zaya is a joint venture between Tasameem Real Estate, and Assas LLC whose combined portfolio is in excess of $20bn. Tasameem Real Estate is an Abu Dhabi developer with a real estate portfolio worth more than $10bn in key locations around the world including New York, Paris, London and the UAE. Tasameem also has key investments around the globe including XO Jet, the world's most exclusive private aviation company as well as London Michelin-starred restaurants Yauatcha and Hakkasan which are the creations of Alan Yau, who is renowned for bringing radical edge to the London market for Oriental restaurants. Founded in 2002, Assas LLC is an investment holding company focused on investing in premium/luxury developments and related businesses - e.g. resort management companies and interior design firms. It is currently a partner in the $4bn Al Barari project, the first Dubai-based, mixed-use development targeting the premium segment of the real estate market. Assas boasts an extensive network that drives value both from a product development standpoint as well as through sales and marketing channels. Both companies together bring over 25 years of experience in delivering world-class real estate.

Awarded the "Most Luxurious Project in the World" title by Newsweek Arabic Edition Awards, Nurai, Zaya's first project consists of a combination of shoreline, beachfront and water villas all of which afford its residents an abundance of land and privacy. Residents will have access to all of the services and comforts provided by the island's boutique resort and spa/fitness centre (Zaya Retreat). In addition to the amenities of the contemporary hotel, which include three world class restaurants and multiple lounges, Nurai also offers a private helipad and marina with arrivals lounge, private beaches and water sports facilities, with a Cafe Del Mar providing all live entertainment on the beach bar.

About The UAE Red Crescent
The UAE Red Crescent is a member of the world's largest group of humanitarian non-governmental organisations - the International Red Cross and Red Crescent Movement, which includes national societies in 186 countries with almost 100m employees and volunteers. The organization focuses on providing healthcare and disaster management in areas affected by warfare or natural disasters and promotes volunteering as a key humanitarian principle. The UAE Red Crescent is active within the country. It has 15 network of branches and offices distributed all over the country to provide aid and assistance to needy people and families without discrimination. As with regards to the Red Crescent nature of work, they can work with their 186 partners of other national societies .

About Akshaya Patra
The Akshaya Patra Foundation is a leading organization that addresses two of the most immediate challenges facing India, hunger and education, through its school lunch program. Akshaya Patra feeds over 1m underprivileged children every day in government run schools in India. It is the World's largest NGO-run midday meal program and operates through 17 kitchens in seven states in India.

For press enquires, please contact:

Farah Ibrahim
TRACCS
Tel: +9714 3672530
Fax: +9714 3672531

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