Tuesday, December 26, 2017

Al Forsan leases out 95pc of staff accommodation

UAE-based Al Forsan Real Estate (AFRE) has announced that almost all of its villas and more than two-thirds of its apartments meant for employee accommodation in Abu Dhabi have been leased out.

The property arm of Al Forsan Holding, AFRE had launched its fully-furnished employee accommodation facility within its flagship - Al Forsan International Sports Resort.

The organisation develops mixed-use communities that support active lifestyle through the integration of world class sporting facilities.

From the start of the newyear, the studio apartments would be leased at Dh35,000 ($9,530) per annum inclusive of electricity, water and air conditioning charges, said the company in a statement.

AFRE developed the employee accommodation facility in a bid to fortify its position as a diversified development company. This particular venture proved highly successful when 21 out of 22 villas were promptly leased within few months of its launch, it stated.

The facility also comprises six buildings with studio apartments, of which four are completely leased out. Only 158 more studio apartments within building 3 and 4 are available for leasing, it added.

Rashed Al Qubaisi, the general manager of Al Forsan Holding, said: "The employee accommodation project was entirely different from any of our previous developments."

"We sought out to provide safe, secure and hassle-free living environment to the employees of various organisations in and around the Khalifa City area and looking at our occupancy rates, we believe we have nearly accomplished what we were set out for. Among our residents, are present employees from the aviation and hospitality industry that includes restaurants and cafes," he added.

Al Forsan Village, located within Khalifa City 'A' area of Abu Dhabi, includes 440 units of one- to four-bedroom apartments spread across 241,985 sq m. Health and luxury underpin the Al Forsan Village lifestyle for stakeholders.

Spread across 15,000 sq m, Al Forsan Village Town Square, the retail and leisure destination embedded within the project, is also home to several community-focused brands.

Most of the renowned retail stores such as Spinneys, Holland & Barrett, Tilia Flowers, illy café, Just Kidding, Street9 Café, Cheeky Monkeys, Coffee Club, Champion Cleaners, Oregano Café, Physiomins among several others are already operational. The retail community has close to 17 stores to address the needs of the residents, stated Al Qubaisi.

Since the employee accommodation facilities lie within the Al Forsan International Sports Resort, the residents are provided with the unique opportunity to benefit from the various activities available at the venue, he noted.

They get to enjoy various sports such as football, kart racing, horse riding, wakeboarding, shooting among others. All the facilities are available for the residents at corporate membership rates.

This is a unique approach to ensure that an organization’s human capital is healthy and productive at the same time, added Al Qubaisi.-TradeArabia News Service



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