Media ININ Economy We Trust
Media In 16-04-2019/ Wam
Real estate developers have confirmed that Abu Dhabi’s comprehensive economic and development incentives package as part of the “Tomorrow 21” development accelerator program has positively impacted the emirate’s real estate market and has contributed to enhancing the investment appeal of this vital sector.
“The Abu Dhabi real estate market is one of the most attractive sectors for investment in the UAE,” said the real estate developers in a statement to Emirates News Agency (WAM) on the sidelines of the first day of the events of Cityscape Abu Dhabi 2019, which started today with local, regional and global participation reflecting the investment status of the real estate market in Abu Dhabi. High investment returns and demand growth for new projects and units that meet the needs of all segments of society.
Mubadala Real Estate and Infrastructure will showcase four residential projects during the exhibition: Lamar on the waterfront of Al Raha Beach and The Wave, which runs along the Waterfront Walk of Marina Marina on Reem Island and The Views in Saraya, Of two residential towers located on the Abu Dhabi Corniche, Lake Saraya and the “Durrat” project located in the heart of Marina Square on Al Reem Island.
Ali Eid Al Muhairi, Executive Director, Mubadala Real Estate and Infrastructure, said: “There is an ongoing demand for high-quality real estate units as a result of Abu Dhabi’s economic and development incentives.”
He added that the portfolio of real estate projects and diverse infrastructure on the island of Al Mariya has contributed to laying a solid foundation for Abu Dhabi’s future growth by attracting leading developers, companies and partners from around the world to provide the most attractive destinations for Abu Dhabi residents.
Waleed Al Hindi, CEO of Imcan Real Estate Development, said: “The investment portfolio of the company is valued at 100 billion dirhams, 50 per cent of which is in Abu Dhabi, which confirms the attractiveness of its real estate market due to the growth in demand for residential units and the economic and development incentives being launched by Abu Dhabi. All sectors are vital and reflect growth and economic prosperity.
He pointed out the intention of the company to hand over five real estate projects, three of them in Abu Dhabi and two projects in Egypt and Morocco out of the 26 projects currently being developed in six countries with a total area of 30 million square meters.
Al-Hindi added that 60% of the 37-villa Ndara project, covering 26,000 square feet in Saadiyat Island Cultural District, has been completed and the opening of the Sheikha Fatima Park in October, located in Al Khalidiya, Square meters. The company also received the “Thania” residential project by the fourth quarter of this year, which is located within the park area in Abu Dhabi and includes 84 apartments.
Mr. Ahmed Sulait, Commercial Sector Manager, Baniyas Investment & Development, said: “Cityscape Abu Dhabi 2019 is an ideal platform to reflect the development and growth of the Abu Dhabi real estate market, which encourages investment, noting that their participation in the exhibition comes through the” Gate of the East ” 3 billion dirhams.
He added that the real estate market in Abu Dhabi is growing well as demand for residential projects and competitive prices make it the most attractive sector to invest in the UAE under the development and expansion of many service sectors and community.
