Aurora, a mixed-use project being developed with a cost of about Dh3.5 billion at Shams Abu Dhabi on Reem Island, is well on track for completion in mid-2011, said developer Mayadeen at the Abu Dhabi Real Estate and Investment Show 2009.
Mayadeen, an overseas property investment arm of Kuwait-based National Ranges Company, is developing Aurora that comprises two towers (50 and 53 storeys) along with two 14-storey buildings of offices and retail outlets.
"The project is well on track with the work progressing. The construction work started in last May and will be completed for delivery in mid-2011. It will be a mixed-use development with a cost of Dh3.5bn from the company's own equity and resources," Ahmed Zaky, Senior Vice-President Marketing and Business Development at Mayadeen, told Emirates Business.
He said the two towers will have 2,000 residential units of one, two, three and four-bedroom apartments, including duplexes and penthouses. The project also includes the world's largest automatic car parking facility for 3,000 vehicles. He said the units will not be sold on retail basis but only in groups to institutions for which interests have been shown from buyers in the country, Saudi Arabia, Bahrain, Qatar and Kuwait.