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Baniyas completes 60pc of $817m project

Abu Dhabi, March 4, 2010

Baniyas Investment and Development Company (BID), the investment arm of Baniyas Sports Club, has completed 60 per cent of the construction of Phase 1 of the Dh3 billion ($817 million) mixed-use Bawabat Al Sharq development.

Phase l of the project in Abu Dhabi’s Bani Yas region, which is due to be completed and delivered in December 2010, comprises of 164 well-designed apartments as well as 56 luxurious villas including various unit types to meet the buyers’ diverse requirements.

“The substantial progress we are witnessing on the project is in line with our strategy of adhering to strict time frames while ensuring that we deliver quality,” said Wael Tawil, chief executive officer of BID.

“We are moving ahead steadily with the objective of handing over the residential sector of Phase l in December 2010. Once complete, Bawabat Al Sharq will incarnate an ideal living environment for all our residents while enhancing the region’s economic appeal,” he added.

Phase l of Bawabat Al Sharq also includes the project’s destination mall, spread across two floors, nearly 70,000 sq m of gross leasable area and featuring 339 high profile retail outlets of fashion wear, electronics, neighbourhood services, accessory outlets, jewellers in addition to a Carrefour hypermarket.

The mall will feature 2,245 parking spaces as well as 22 food outlets inclusive of restaurants and cafes. Construction on the Mall has now reached the 40 per cent completion mark and the venue is scheduled for an opening in December this year as well.

“Recently, we proudly announced the successful completion of our new state-of-the-art Baniyas Sports Club Stadium in Al Shamkha, which was built in a record breaking six months’ time,” Tawil said.

“We aim to continue working with the same commitment and efficiency to complete and deliver Phase 1 of our project by year end,” he concluded. – TradeArabia News Service




Tags: abu dhabi | Bid | Bawabat Al Sharq | Baniyas Investment and Development | Phase 1 |

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