Central Park launched on Al Reem

zoom

Central Park will form part of Sorouh’s Shams project on Al Reem Island.

Sorouh Real Estate has launched its Central Park project, which is a major component of its Shams Abu Dhabi development.

The US $136 million (AED500 million) construction package will produce a 300,000m2 of open space and recreational amenities.

“The Central Park project will be developed on more than 8.3 acres [33,600m2]. The project will also include 12 mixed-use towers, restaurants, water canals, lakes, recreational and sports complexes and parking lots designed to respond to the needs of residents,” said Saeed Eid Al Ghafil, chairman, Sorouh Real Estate.

Work on the infrastructure of the project will start in June, 2007, with the first phase due for completion in 2009 and the full project is expected to be finished in 2010.

Al Ghafil pointed out the investment opportunity presented by the project due to its location in the heart of the new Shams Abu Dhabi development.

“We are committed to supporting and enhancing the growth of real estate sector in Abu Dhabi and the UAE, which will be reflected in the development of related sectors,” added Mounir Haidar, CEO, Sorouh Real Estate.

Central Park is distinguished by its central setting in the midst of other local and international developments. Its location in the special economic investment zone of Al Reem Island also provides tax-free benefits for buyers as well as the ability to acquire 100% ownership.

Shams Abu Dhabi will occupy over 4.7 million m2 of Al Reem Island, with residential projects accounting for 80% of the development space and 20% reserved for commercial and recreational use.

Print | Email | Discuss this article

| Share |

READERS' COMMENTS

Click here to post a comment

Add your Comment All posts are sent to the administrator for review and are published only after approval. ArabianBusiness.com reserves the right to remove any comment at any time for any reason. Please keep your responses appropriate and on topic. Arabian Business would like to point out that only comments relevant to the story will be published. Any containing personal insults or inappropriate language will not be approved.
Name *
Remember me on this computer
Email *	(Your email address will not be published)
City
Country
Subject *
Comment *
Notify me of further comments
Enter the words above *
Please click post only once - your comment will not be published immediately.

MORE FROM ARABIANBUSINESS.COM