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Fri 1 Jun 2007 12:00 AM

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UAE project for Saudi firm

Rasyat Real Estate, a subsidiary of Saudi company Mohamed Al Nahdi Real Estate Group, has announced its first project to be developed in the UAE.

Rasyat Real Estate, a subsidiary of Saudi company Mohamed Al Nahdi Real Estate Group, has announced its first project to be developed in the UAE.

The 23-storey Burj Al Yaqut tower will be located in Danet, central Abu Dhabi. It will comprise 21 residential floors with a total of 189 apartments; one commercial floor and one retail floor plus three basement parking levels. In addition the development will include a swimming pool, entertainment centre and shopping mall.

Group chair Mohamed Al Nahdi explained: "Rasyat was established as part of the Mohamed Al Nahdi Real Estate Group with the objective of focusing on dynamic real estate projects in the UAE, starting with Abu Dhabi.

"Rasyat, as part of the Group, has years of expertise in real estate and this, combined with the research conducted in the Abu Dhabi market, means the company will focus on the specific requirements for this market and will be offering practical, affordable housing solutions there."

The project is scheduled to complete in the third quarter of 2009.

Danet Abu Dhabi is one of the primary projects being developed by Al Qudra Real Estate. It is due to complete within three years.

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