Reem Developers, an Abu Dhabi-based master developer and a subsidiary of Reem Investments, yesterday sold four seafront residential plots measuring 1.3 million square feet to Al Farwaniya Property Developers.
"Najmat Abu Dhabi is our flagship project and we have been selective in choosing the developers that would be a part of this iconic development. We decided to forge a partnership with Farwaniya Developments because they share our vision of developing landmark projects. This has encouraged us to give them an opportunity to build within Najmat Abu Dhabi," said Abdulhamid Mohammad Saeed, Managing Director of Reem Investments.
"The phenomenal investor and buyer interest generated by the project validates its focus on business, leisure and residential areas, which are designed to create a self-sustainable community development within a natural seaside setting. Interest in the project remains buoyant despite the current global economic slowdown."
Khaleel Al Abdullah, General Manager, Al Farwaniya, said: "Being our first project, we intend to develop a high rise ultra-luxury waterfront residential project that complements the overall image of the master development and that of Reem Island. The development is all set to emerge as one of the most sought after and prestigious residential address in the Reem Island."
Najmat Abu Dhabi is a community-focused project with a mixture of traditional and contemporary architecture for its buildings.
Spread across 1.486 million square metres, Najmat Abu Dhabi's marina, canal and water features are designed to ensure that all residents enjoy features of the waterfront community.
Additionally, the buildings are also graded in height to offer an unobstructed view of the sea to all residents.