Al Fahid Property Development, the developer behind an Abu Dhabi waterfront residential development, has announced that it will launch sales of phase one of the project on March 3.
Named Al Marsa, phase one of the project is slated for handover by the third quarter of 2023 and will feature 301 luxury villas and nine apartment buildings.
The fully integrated Al Fahid development is located between Yas Island and Saadiyat Island.
Once completed, the entire five-phase, 3.2 million-square-metre project will have the capacity to accommodate more than 11,000 residents, with Al Marsa accounting for nearly half – about 4,600.
Saeed Eid Al Ghafli, chairman of Al Fahid Property Development, said: “Poised to become Abu Dhabi’s first authentic luxury waterfront destination, the Al Fahid development will go a long way in attracting investments to the UAE capital.
"The launch of sales reinforces our commitment to enhancing the city’s lifestyle offering.”
The project will contribute to creating around 1,500 new job opportunities over the next three years, he added.
Set to span 1.1 million square metres, Al Marsa is scheduled for handover in two stages. The 464,000-square-metre stage one will feature 301 villas.
Stage two of Al Marsa will include nine apartment buildings overlooking the marina, with five towers in the middle, flanked by two on each side. The buildings will comprise a total of 671 one- to four-bedroom apartments including 15 townhouses.
A luxury marina, with 85 berths, will also boast 88,000 square feet of retail and F&B space.
Al Fahid will also feature walking and bicycle paths, beaches, canals, a promenade, a beach club, a mosque, a civic centre, a nursery, and a water sports centre.For all the latest business news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
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