Abu Dhabi master developer Sorouh has set a target date of 2015 for the completion of the first Lulu Island bridge, the firm's managing director has said.
"During 2009, we finalised the conceptualised design for Lulu Island and we are now at a very late stage in approvals, which we expect to be completed by the end of this year," Sorouh MD Abubaker Seddiq Al Khouri told reporters at Cityscape Abu Dhabi on Sunday.
"We are aiming for the first of fifteen phases to be completed by 2015, with the entire project taking about fifteen years."
Al Khoori pointed out that Sorouh had so far witnessed "strong demand" from investors.
Lulu Island will be an 80 percent residential mixed-use development, with 40 percent of the island left as open space.
The project is a 60/40 partnership between Sorouh and Mubadala.
Al Khouri also revealed that ten hotels would be built on the island.
Sorouh plans to link Lulu to Abu Dhabi via a number of bridges - to sites such as Marina Mall and Mina Zayed - and three tunnels. The first tunnel will be ready in 2015.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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