Hydra to deliver 50 new housing units in June
Abu Dhabi, April 19, 2010
Abu Dhabi-based Hydra Properties said it plans to deliver 50 new residential units in the Marina Heights I tower, which is coming up at Reem Island, in June.
The Marina Heights I tower, comprising 50 apartments covering 64,000 sq ft, is part of the Marina Square being developed by Hydra's sister company Tamouh.
Hydra said it had recently purchased 20 floors of the tower. “With this investment in our sister company’s development, we are able to offer units in one of the first new towers to be completed in Abu Dhabi and on Al Reem Island this year,' said Ali Bin Sulayem, Hydra Properties’ chief executive officer.
'We will now offer some of its earliest customers the opportunity to relocate investments to one of the Marina Heights I apartments, should they wish accelerated delivery of homes,' he added.
The initiative is part of the company’s ongoing efforts to offer choice and quality to its customers, and to help those investors who wish to move in to their homes earlier, he explained.
According to him, the handover at Marina Heights is expected in June.
“In common with other major Abu Dhabi developers, we have more customers wanting to move into properties than we have units being completed this year – and so this offers a great new choice for some of those customers.
“We will be offering this opportunity on a first-come, first served basis – so our very first customers will be offered this option initially,” Bin Sulayem stated.
Hydra said the 50 apartments include a range of sizes, ensuring there are different options for customers. 'The customers wishing to switch to these units will do so at no financial penalty,' he added.
Hydra also confirmed that construction at all its main projects was progressing well. 'We have just released latest updates of the construction work at our major projects and customers can see these developments really taking shape.'
"Hydra Village in particular has seen extensive work, with more than 78 per cent of homes in zone 7 completed and the first floor completed in two thirds of all homes in zone 4." Bin Sulayem said.
“Over the next 18 months, we expect to deliver more than 8,500,000 sq ft of residential property at our various projects,” he added.-TradeArabia News Service