The region's largest independent property developer adds a new tower to the skyline of Abu Dhabi

April 16, 2011

DAMAC Properties' Marina Bay on Al Reem passes 7th floor


The region's largest independent property developer, DAMAC Properties, is adding a new tower to the skyline of Abu Dhabi's Al Reem Island, with its Marina Bay development already reaching the 7th floor.

Marina Bay is a waterfront, mixed use development, offering residential, retail and commercial space. The 25 storey tower will include one, two and three bedroom apartments. In addition, there will be retail and commercial space with shops and restaurant outlets along the ground and mezzanine levels. 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.

"DAMAC Properties is making excellent progress with our development at Al Reem Island. Construction of Marina Bay is accelerating and we are adding a new floor every week'' said Niall Mc Loughlin, Senior Vice President of DAMAC Properties.

The development comprises a state-of-the-art gym, a spa with steam, sauna and massages, meditation, yoga room and children's playroom. The additional leisure facilities include a pool, entertainment and games room. The retail blocks offer high-class retail brands, landscaped surroundings with restaurant's, café's and boutiques, while the commercial blocks offer hi-speed internet, business lounge, business centre and 24-hr security camera's.

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.

Mc Loughlin commented: "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."

McLoughlin added: 'Part of our success as a developer in other markets has been the ability to identify prime locations and then deliver stylish and iconic buildings. Even with the market leveling out and showing slow signs of recovery, particularly in Abu Dhabi, location is still a hugely influential factor in the decision making process for customers and we know that Al Reem Island will be at the heart of that,' he said.

Abu Dhabi remains a very significant market place for us and we are confident that the location of our Marina Bay tower will prove very attractive for customers.

Al-Shafar General Contracting is the main contractor for both Marina Bay and Oceanscape, another DAMAC project in Abu Dhabi in the highly sought after Shams area of the capital. Oceanscape has also reached the podium level and good progress on this tower can also be seen.