Developer commences handover of 24 storey, mixed-use development
Dubai-based luxury property developer DAMAC has announced the handover of its first project in Abu Dhabi – the 24 storey mixed use Marina Bay tower.
Located on Al Reem Island, the development offers residential, retail and commercial space and overlooks the canal.
“This is another big milestone for DAMAC Properties,” said Niall McLoughlin, Senior Vice President of DAMAC Properties. “Completing on our first project in Abu Dhabi is a big step for the company as we continue to expand our portfolio of completed projects across the GCC.”
“The current market situation creates an outstanding medium to long term strategy for investors. We have been delighted with the response and there remain just a few units left at Marina Bay, highlighting the demand for high quality luxury apartments and commercial locations in Abu Dhabi,” McLoughlin continued, while describing the project as “highly anticipated”.
There are a further 50 project still in the DAMAC project pipeline, including its first services apartments complex, Burjside Boulevard and towers in Beirut, Jeddah, Jordan and Cairo.
In October issue Big Project Middle East, DAMAC managing director Ziad El Chaar speaks about the developer’s success and the message for this year’s Cityscape Global exhibition, which begins next week at Dubai World Trade Centre.