Sunday, June 18, 2017

Work in full swing at Aldar's master-planned community

UAE-based Aldar Properties said work is moving at a steady pace in its master-planned community on Reem Island, Abu Dhabi, with a 2.4-km canal now open and construction of the Vida Hotels and Resorts set to start this year.

The newly-opened canal is flowing adjacent to 35 plots within Aldar’s master-planned community, bringing waterside views, promenades, seating and areas for exercise and socialising to the island’s steadily growing population as well as visitors from other parts of the city, said the developer in a statement.

A focus on lifestyle-driven amenities and residential development projects is propelling Aldar’s master-planned community on Reem Island towards being one of the most attractive destinations in the UAE Capital, it added.
Further adding to the modern lifestyle on Reem Island, the beach near the head of the canal is expected to become home to many community events following the success of Aldar’s inaugural Reem Weekend, said the Emirati developer.

Over 5,000 visitors enjoyed a weekend that included organic food vendors and food trucks, street performances, live art, sports and children’s activities, as well as a pop-up market.
Reinventing the park experience in Abu Dhabi, Reem Central Park is set to become a focal point for the city when it opens to the public in 2018. The park will feature a mosque with a capacity of 2,000 worshippers set beside a tranquil reflective pool, food and beverage (F&B) outlets, a retail centre, a skate park, play areas, and interactive water features.

Reem Central Park’s attractions and amenities will also lead to a natural waterfront, including a 4-km-long promenade that will feature edutainment opportunities on the area’s natural reserves and plant life.

Commenting on the development, Mohamed Khalifa Al Mubarak, the chief executive of Aldar Properties, said: "Our master-planned community on Reem Island is developing at a rapid pace, spurred on by modern lifestyle and community focused amenities such as the canal, Reem Central Park, Vida Hotel and Residences, exciting event spaces, and of course our mid-market residential projects Meera and The Bridges."

"In addition to being incredibly attractive for owner occupiers, Reem Island continues to capture the attention of investor audiences, with well over 60 per cent of the plots in our masterplan currently in various stages of design and construction, and the balance earmarked for future development opportunities by us as well as third parties," he added.

Aldar said construction is under way with streetscaping complete and the coastalscape nearing completion, with hard and soft landscaping and infrastructure expected to commence in July.
The successful sell out of The Bridges has been supported by the diverse buyer base, including younger purchasers eager to make their first property investment, as well as buyers who are brand new customers for Aldar.

With homes ranging from studios to three-bedroom apartments, and complemented by a range of amenities set within a landscaped environment, The Bridges will set a new benchmark for mid-market homes in the UAE upon its completion in early 2020, it stated.

Meera, Aldar’s first mid-market development on Reem Island, is making good progress with the structure now at the 16th floor out of 26.
On the Vida Hotels and Resorts project, Al Mubarak said the construction is scheduled to start this year and is due for completion in 2020.

Vida will operate a 262-key hotel and 192 serviced apartments. These will be accompanied by Aldar’s 329 marina residences within the development, which will add to the 5,000 homes already within its leased residential portfolio, he noted.
Aldar’s Shams Boutik is home to Reem Island’s only Nando’s, Starbucks and Johnny Rockets outlets, as well as leading supermarket Waitrose and children’s activity centre Action Zone. A Burjeel Day Care Centre will open in Shams Boutik in August this year, he added.-TradeArabia News Service

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