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Sat 19 May 2007 12:00 AM

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Deyaar launches on Al Reem

The real estate firm has unveiled its first Abu Dhabi property on Al Reem Island.

Deyaar has launched its first venture in Abu Dhabi's property market with a residential project on Al Reem Island.

The firm - the real estate subsidiary of Dubai Islamic Bank - has acquired three plots from Reem Developers in the Najmat project close to a hotel and a mall development with views of the Bay Centre Marina.

The plots are worth around US $70.3 million (AED258 million).

Construction will begin by the end of the year and Deyaar is currently appointing consultants and designers.

Al Reem Island is a residential, commercial and business project on Al Reem Isle, a natural island off the coast of Abu Dhabi island. It is being developed separately by Sorouh (Shams Abu Dhabi), Reem Investments, and Tamouh.

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