‘Hydra Avenue’ handover to begin by August

Hydra Properties announced the near completion of phase 1 of Hydra Avenue, its flagship project in Abu Dhabi comprising residential, commercial and mixed use properties. The premium waterfront development is located on Reem Island, one of the few designated freehold developments in Abu Dhabi.

Phase 1 of Hydra Avenue comprises three towers, spanning more than 1.7 million sqft of built up area.

The three towers collectively offer 906 apartments, as well as 45,000 sq ft of retail space. Handover of the residential units is set to commence in August 2014.

Ali Saeed Bin Sulayem, Chief Executive Officer of Hydra Properties, said: “We have achieved an important milestone today in completing phase one of Hydra Avenue that is already being recognised as a distinctive mixed-use project in the Abu Dhabi real estate landscape.”

Mohamad Al-Habech, Chief Commercial Officer of Hydra Properties, said: “At Hydra Avenue, we are in the final stages of completing all necessary processes for ensuring a smooth handover of the completed units. The completion of phase one validates our capability to develop and deliver integrated projects that assure optimal return on investment for our investors.  This comes at a perfect time where the Abu Dhabi real estate market has registered substantial increase in prices in different areas demonstrating diversification of demand in light of the new government strategy for public sector employees.”

When fully developed, Hydra Avenue will comprise six towers ranging between 24 and 29 storeys, interconnected by a mixed-use podium that spans five floors. The state-of-the-art project has evolved from the ‘All-in-one-Living’ sustainable development model developed by Hydra that combines all aspects of convenient living - contemporary amenities and opportunities for social interaction - under one roof.

Follow Emirates 24|7 on Google News.