Abu Dhabi company Mubadala today launched Arzanah, described by the company’s chief operating officer as one of its most significant projects.

Being developed by Capitala, part of its joint venture with Singapore-based Capitaland, the 1.4 million square metre development will include mixed used properties, beaches and a canal.

Set in a non-investment zone, properties can only be bought by UAE nationals. Once developed, it will include 9,000 residential units.

Waleed Al Mokkarab Al Muhairi, COO of Mudadala, said: ‘Arzanah is an integrated residential development at the gateway to Abu Dhabi. [It] will feature high rise apartment towers and townhouses, communal gardens and trails for both walking and cycling.’

The first phase, the Heights apartments and 14 townhouses, are due to be launched in a few months time (towards the bottom left of the picture).

Capitala is one of several joint ventures set up by Mubadala. It owns 51% of the company. Development costs are expected to be north of $5bn.

This entry was posted on Tuesday, May 13th, 2008 at 9:17 pm and is filed under Cityscape. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.