Aldar puts Al Seef waterfront project on review

Aldar Properties is to "tweak" its plans for Al Seef, a waterfront community project in Abu Dhabi, amid the downturn in the region's real estate market.

The development, which was launched three years ago and is planned for Al Raha Beach in Abu Dhabi, is under review, an Aldar official has confirmed.

“We’re reviewing the project to see what the right mix and balance is, and are talking to the Urban Planning Council to make sure we develop the right product for the right market,” Robert Deatker, the project director of Al Raha Beach, said in comments published by UAE daily The National on Wednesday.

Al Seef was to be situated within a canal system and include a mix of apartment buildings, villas, offices and retail outlets.

Other projects at Al Raha Beach that have been fully or partly designed were also being reviewed, Mr Deatker told the paper, while sections of the Al Dana financial district, which will include Aldar’s new headquarters, are also being reconsidered.

“To carry on constructing something that isn’t quite what the market wants means we have to do reviews,” Mr Deatker told the paper. “The market has changed and Aldar needs to be agile to adapt.”

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