Business | Property
Profile begins work on towers in Marina Heights
Abu Dhabi-based real estate company Profile Group Properties recently inaugurated the start of construction of its twin Marina Heights towers on Al Reem Island Abu Dhabi.
- Staff Report
- Published: 00:00 February 23, 2007
- Marina Heights towers, situated on Al Reem Island, will offer a combined 86 floors with 704 apartments and four penthouses.
- Image Credit:
Abu Dhabi: Abu Dhabi-based real estate company Profile Group Properties recently inaugurated the start of construction of its twin Marina Heights towers on Al Reem Island Abu Dhabi.
An onsite ceremony marked the beginning of construction of the towers' concrete foundations and multi-level car-parking podium.
The Marina Heights towers are the first of the capital's new residential projects being sold to both local and foreign homeowners to officially start construction in the emirate, according to Profile Group Properties.
"Real estate in Abu Dhabi is seeing promising growth, with investors gaining confidence in the emirate's ability to deliver on its promises," said Guy Sadler, head of marketing at Profile Group Properties.
"Abu Dhabi's market is stable, offers competitive prices not buoyed by speculation, and is rapidly coming into favour as a lucrative investment environment.
Master plan
"Substantial manpower is now onsite to ensure that work on Marina Heights progresses on schedule and that our investors will be opening the doors to their the new homes in 2009, as expected."
Marina Heights towers, situated on Al Reem Island, will offer a combined 86 floors with 704 apartments and four penthouses.
Al Reem Island, situated north-east of the UAE capital, is one of the zones designated for investment by foreigners, and will soon be one of the premier residential and commercial centres in the country.
The island covers over 6.5 million square metres of land, of which Tamouh Investments will develop 60 per cent, Sorouh 20 per cent and Reem Investments the remaining 20 per cent.
The Island's master plan hosts over 200 towers, with development to be carried out in multiple phases all the way up to 2023. It will eventually accommodate over 200,000 inhabitants living and working on the island.
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