Aldar inks 607-apartment lease deal with UAE clinic operator

Developer signs agreement with Cleveland Clinic Abu Dhabi to provide accommodation for hospital employees
Aldar inks 607-apartment lease deal with UAE clinic operator
By Andy Sambidge
Sun 24 Aug 2014 02:10 PM

Aldar Properties said on Sunday it has secured a significant bulk deal to lease 607 apartments to Cleveland Clinic Abu Dhabi to provide accommodation for the hospital’s employees.

The leased units are at the Gate Towers development on Al Reem Island and the Al Rayyana development in Khalifa City.

Mohammed Khalifa Al Mubarak, CEO of Aldar Properties, said: “Abu Dhabi’s strategy of economic diversification and well planned development is creating significant demand for high-quality, modern residential property.

"Major employers are seeking bulk housing solutions in communities that offer excellent amenities and facilities, and Aldar is responding to these needs. Leasing activity has been very strong this year, helping to strengthen our recurring income portfolio.”

Dr Marc Harrison, CEO of Cleveland Clinic Abu Dhabi, added: “Being able to attract and retain the most qualified caregivers is essential to Cleveland Clinic Abu Dhabi’s world-class medical care offering.

"One of our goals is to provide our staff with high quality accommodation in Abu Dhabi and this agreement allows us to do just that.”

Al Rayyana comprises 1,537 apartments across 33 low-rise residential buildings. The Gate Towers, located at the heart of Shams Abu Dhabi on Al Reem Island, is made up of 3,533 units.

Cleveland Clinic Abu Dhabi will be comprised of five clinic floors, three diagnostic and treatment levels and 13 floors of critical and acute inpatient units, totalling 364 beds initially.

The hospital, which was designed and developed by Abu Dhabi’s Mubadala Development Company and US-based hospital, Cleveland Clinic, is scheduled to begin seeing patients in 2015.

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