AL REEM ISLAND - PROPERTIES

AL REEM ISLAND - OVERVIEW

Al Reem Island, 'The Pearl' and 'Emirates Pearl Island', is a residential, commercial and business project to be built on the natural island 600 meters off the northeastern coast of Abu Dhabi Island. Reem Island is connected to the Abu Dhabi city island by 2 or 3 bridges and be located 20 minutes from the Abu Dhabi International Airport.

The Island is being developed by three master developers Sorouh Real Estate (Shams Abu Dhabi Sorouh owns 20%), Reem Investments owns the 20%, and Tamouh Investments owns 60%. One of the first free zones in Abu Dhabi, where foreign nationalities can buy properties as leasehold.

The development is overseen by an independent third-party facilities management company known as Bunya. Bunya is responsible of planning, executing and managing infrastructure and operations on Reem Island and Bunya will ensure all three Reem Island developers meet the high standards of construction. The Island is estimated to accommodate 280 thousands residents and will include important amenities like schools, medical clinics, shopping malls, restaurants, hotels, resorts, spas, gardens, and beaches. Properties that are available in Al Reem Island will be on a extendable 99-year leasehold basis.

In total, around 6,000 residential units are handed over with the first buildings completed by 2010, 2011 and 2012, in Marina Square, Tamouh . The island will provide 87 million sq ft of high quality offices, residential, retail and leisure spaces on completion.

Marina square residential towers are RAK Tower, Al Durrah, Ocean Terrace, Tala,Maha, Burooj Views, Marina Blue and Marina Heights I & II.

Shams Abu Dhabi is over 1,800,00 sqm land area, the home of 45,000 residents . Shams is divided into 178 separate plots Sorouh Real Estate is the master developer but there are 54 other companies developing properties over 104 plots, Shams will not have any villas and will only have apartments and townhouses.

The handed over developments in Shams are Sun, Sky, Amaya Towers and BOUTIK mall, while Mangrove Place, Al Wifaq Towers, Gate Towers and the Arch are still under construction but expected to be handed over within the first quarter of 2013.