'Marina Bay' Topped Out on Al Reem Island

Sun, 16 Oct, 2011

Luxury real estate developer DAMAC Properties has announced it has topped out its 24 storey mixed-use ‘Marina Bay’ development on Al Reem Island in Abu Dhabi.

Marina Bay Abu Dhabi is a waterfront development offering residential and retail space. The tower will include one, two and three bedroom apartments as well as retail and commercial space along the ground level.

Marina Bay’s prime location within the Al Reem master development means that residents will have views across the canals that run through the entire development and also out across the Marina itself.

“Now that the super-structure of Marina Bay has been completed, we can really begin to focus on the facade and the interiors. Topping out a building is always a significant turning point in the development of high rise towers” said Niall Mc Loughlin, Senior Vice President of DAMAC Properties.

Marina Bay’s leisure facilities include a temperature controlled swimming pool, state-of-the-art gymnasium and day spa amenities which include steam, sauna and massage provisions. In addition residents can make use of the yoga room, children’s playroom and entertainment and games rooms. The retail blocks offer, restaurant’s, cafe’s and boutiques with designer brands.

Al-Shafar General Contracting is the main contractor for both ‘Marina Bay’ and ‘Oceanscape,’ which is DAMAC Properties’ other project currently under construction in Abu Dhabi. Oceanscape is a two-tower development, which is now at levels 21 and 16 respectively.

“The construction of both projects has advanced significantly over the past six months, and we are anticipating that they will be handed over before the end of next year.” Mc Loughlin commented.

“When projects approach completion, there is always an increase in enquiries from potential customers. We have been encouraged by the amount of interest in these two luxury projects in Abu Dhabi” he added.

Al Reem Island is considered one of the most luxurious locations in the UAE. It’s a natural island 600 meters off the coast of Abu Dhabi Island, and has attracted interest from foreign nationals due to it being one of the first free zones in the capital.

“DAMAC Properties is dedicated to selecting premium locations for our developments. Al Reem offers an idyllic island lifestyle, while still in close proximity to the city centre. It’s for people who want to be close to work, but outside of work hours, feel like they are miles away” said Mc Loughlin.

According to a recent report by Asteco Property Management, Abu Dhabi’s real estate market is being buoyed by existing residents upgrading to higher quality accommodation. The volume of sales is corresponding with the delivery of newly completed projects.

DAMAC Properties is an internationally recognised, luxury-focused, high-end developer. With a proven track record for delivering some of the most luxurious residential properties across the Middle East region, the developer is well capitalised and has the vision and momentum to provide solid investment opportunities for customers across all the markets in which it operates.