New US$8 Billion project in Abu Dhabi - Najmat Abu Dhabi

Reem Investments, an Abu Dhabi-based investment company, is to launch an US$ 8 billion (AED 30 billion) real estate island project in Abu Dhabi.

Najmat Abu Dhabi (meaning star of Abu Dhabi), is the company’s first project in the UAE; it is a 20 million square foot community on Al Reem Island, 300m off the north-eastern coast of the capital.

Abdulhamid Saeed, chairman of Reem Investments, said, “Najmat Abu Dhabi signifies tomorrow’s lifestyle today as it sets new world standards of community development within a natural, waterside setting; the blueprint for progressive urban island living.

Saeed added, “This development has been guided by a masterplan, conceptualised by world-class talent, and underpinned by an overriding commitment to deliver quality.”

Through the creation of a holistic community, Najmat Abu Dhabi will host a new-generation population of more than 80,000 when it is complete in 2012, with the first homes ready for occupation in 2008.

The infrastructure is expected to be completed in 2008. The project will comprise aesthetic architecture across a complete and varied city-to-village infrastructure built around an integrated and efficient road and pathway system.

The buildings will be a mix of traditional Arabian and contemporary architecture, and will be graded in height according to district and marina coast or seaside. As a result, the skyline will rise and fall according to urban design.

Pre-sales on the development will start immediately and will target investors and real estate companies for plots of land.

The project will include comprehensive infrastructure, schools, health facilities, public parks and modern public transport systems.

50% of the land will be dedicated to open spaces, public parks, children’s playgrounds and shaded walkways.

Three distinct districts

“The development centres around three districts – business, art and village – and is designed to create a self-sustainable new community,” according to Reem Investments CEO Ibrahim Belselah.

Najmat Abu Dhabi has been designed with its future residents in mind. With a commitment to keep the build space ratio at 50:50, public parks and spaces built into the masterplan, and 12 kilometres of uninterrupted bicycle trails, the island development should maintain its feeling of open space.

Serving as a gateway to Reem Island as residents cross the bridge from Abu Dhabi city, the central business district (CBD) has the highest density area in the project. A number of 40 and 50-storey mixed use towers wrap around the central location of the retail and the entertainment district, with two iconic 80-storey buildings at the heart.

Najmat Abu Dhabi will leverage its superb waterfront setting with canals and waterways running throughout the entire development and flowing in and out of its three marinas – Nawras, Dolphin and Flamingo.

The development will be completed with the addition of two five-star hotels and an island resort at the eastern tip of Najmat Abu Dhabi.

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