Sowwah Island project takes shape

Abu Dhabi: All infrastructure-related work in the first phase of the development of Sowwah Island, the core of Abu Dhabi's new Central Business District, is scheduled to be completed by next May, an official from the island's master developer said on Wednesday.

"Sowwah Island's development will be in three phases. We plan to complete Phase I within the next five to seven years," John A. Thomas, executive director of Mubadala Real Estate & Hospitality, said.

Thomas told reporters at a briefing that the National Bank of Abu Dhabi (NBAD) and Al Hilal Bank had already purchased plots on the island.

"Phase I and Phase II together have about 25 plots. Locals and GCC nationals can own freehold plots while foreigners will be allowed to have long-term leases and development rights on the island," said Thomas.

He said the total development area on the island was 105 hectares and all the land was for sale and development.

"There are six plots available in Phase I for which negotiations are ongoing. We are looking at key developers, partners and investors," he said.

He declined to provide figures of money invested in the island's first phase of infrastructure work, citing confidentiality.

The first phase includes the commercial centre of the island Sowwah Square.

It will comprise four office towers of 30 to 36 storeys and will encircle the new headquarters of the Abu Dhabi Securities Exchange. They will provide a grand total of 180,000 square metres of prime office space.

Luxury hotels, which include the Rosewood Abu Dhabi and Viceroy Abu Dhabi, will be built adjacent to and behind Sowwah Square.

Sowwah Island's second phase is still in a conceptual master plan stage and lies to the south of the island. It will be a mixed-use project.