UAE Elite
ADNEC’s Marasi Village the community for UAE nationals
When developers ADNEC began working on Marasi Village the brief was to create a community for UAE nationals.
In a country where the majority of developments are built for expats, transient foreign workers, businesses and tourists, it made a refreshing change.
“The project is located on the main island of Abu Dhabi and as per current land laws, only UAE Nationals are permitted to own property here,” explains ADNEC business development director, Sanjay Tanna.
As a government organisation, formed by Emirati Decree in 2005; ADNEC has completed a number of high-profile projects in the emirate, including Capital Gate. However Marasi Village is ADNEC’s first real estate project.
The construction timeline for the villas is 30 months. To date the works have been tendered, with the marine works contract to be awarded soon and channel work scheduled to begin in two months. Handover to owners is due 2013.
“Marasi Village is a unique and luxurious waterfront community on the main island of Abu Dhabi; it has been specifically designed to attract UAE Nationals as home owners,”
said ADNEC managing director, H.E. Ali Saeed Bin Harmal Al Dhaheri, when the project was unveiled at Cityscape 2011.
Described by ADNEC as an “exclusive opportunity available only to an elite group of individuals”, units at Marasi Village are exclusively for Emiratis.
Yet while 42% of Emirati nationals live in Abu Dhabi, the group represents only 11.2% of the total population of the UAE, down from 15.4% in 2006, according to figures from the National Bureau of Statistics.
“The development has been carefully planned bearing in mind the needs of the local community, and we believe the market demand for this exclusive development, comprising 81 exclusive waterfront villas, is very strong indeed,” Tanna adds.
Sales of the properties commence this month, from a dedicated sales centre run by ADNEC’s Business Development Department and located at the Abu Dhabi National Exhibition Centre.
Mortgage financing will be available from “highly reputable conventional and Sharia compliant banks”, say ADNEC.
Both companies and individuals can buy a property, with a maximum allocation of two properties per buyer.
Future design
The location of Marasi Village was identified by local authorities as a site of “strategic importance”, incorporating an out of town feel with proximity to the facilities available at the ADNEC site.
H.E. Al Daheri calls it a “landmark addition to Abu Dhabi’s property market”.
“ADNEC has invested heavily in recent years to develop the site into a vibrant destination combining the very best in entertainment, business and leisure,” says Tanna.
“Marasi broadens the appeal of this destination even further and it is a key ingredient in ADNEC’s overall plans for the development of the site,” he continues.
Designed exclusively for “connoisseurs of fine living”, ADNEC say the completed villas will feature luxury finishes, “top of the line” appliances and will also be delivered to “the highest international standards”.
All villas and the communal facilities are being constructed to meet a Pearl 2 rating, under Abu Dhabi’s Estidama rating system.
The six bedroom villas at Marasi Village will each have a plot size of approximately 1,414sqm, while the five and four bedroom villas have a plot size of approximately 1,102sqm.
Each of the villas come with covered garden terraces, an office, two reception rooms, two dining rooms,
two kitchens, European-branded appliances, four balconies, entrance porch, maid’s and driver’s rooms and parking.
All are within walking distance to community facilities, including a mosque, community centre, supermarket, café, multi-purpose hall, male and female fitness suites, landscaped grounds and promenade.
Marasi residents will be able to access the development through a private road, connecting from Khaleej Al Arabi Street, with additional access via boat on Al Bateen channel.
National pride
ADNEC’s mandate was to “involve the creation of those elements that enhance the commercial potential of the area, in line with Abu Dhabi’s future growth plan.”
This plan includes transport infrastructure developments and the continued development of ADNEC and its surrounding facilities.
In addition to the community leisure facilities at National Exhibition Centre, the locality has a number of restaurants and hotels, banking and retail outlets, and is close to Abu Dhabi International Airport.
“Marasi Village broadens the appeal of the ADNEC site still further; together with our future plans for the area and planned government investment in transport infrastructure, we are convinced that the site — including the
Gulf’s largest exhibition centre, the world famous Capital Gate tower, Capital Centre and Marasi Village — will continue to attract both attention and investment for years to come,” H.E. Al Dhaheri concludes.
