Asteco to lease new Al Wifaq Tower apartments

Occupying a prime position on Shams Abu Dhabi, Reem Island, Al Wifaq Tower one of the UAE capital's latest luxury residential developments, is now ready to lease, with prices starting at Dhs75,000 per annum for a one-bedroom apartment.

Owned by Union National Bank, Al Wifaq Tower comprises of 269 units extending over 29 floors, totalling 56,000 square metres and is surrounded by spectacular views of the Arabian Gulf and the UAE capital's unique and evolving skyline.
Al Wifaq Tower offers the highest quality finishes and amenities, laid-out in a fashion that complements a busy modern lifestyle, led by many executives today.

The tower also includes basement parking, a pool and gym and a retail community as well as access to a new beach, which is nearing completion. The one, two and three-bedroom apartments have already generated positive pre-leasing interest with prices announced for two and three-bedroom units at Dhs110,000 and Dhs140,000 per annum respectively.

With the island's infrastructure already in place, Asteco executives are confident that the development will be fully leased within the next 6 months.

"Now that the apartments are ready to move in and the leasing rates have been published we are expecting strong interest. Al Reem, is a natural island and has become a much sought after residential area, offering a quality hi-spec lifestyle close to offices, shops, restaurants and entertainment," said Paul Maisfield, Associate Director & General Manager Abu Dhabi, Asteco Property Management.

According to the latest Q1 2013 report from Asteco, many of the latest high quality developments in Abu Dhabi have been able to attract premium rental rates, as both new and existing tenants relocating from older properties, look for quality and value-for-money.