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Wafra launches $54m project at Cityscape

Abu Dhabi, April 24, 2012

Kuwait-based Wafra Real Estate has launched a $54 million commercial and residential project inspired by artefacts and elements of the Islamic world at the ongoing Cityscape Abu Dhabi, a major real estate event.

Cityscape Abu Dhabi is concluding tomorrow (April 25) at the Abu Dhabi National Exhibition Centre.

Located on the plush Reem Island, the Wafra project will have courtyards, mashrabiyas and elevated gardens as its key design aspects, to depict the intricacies of Islamic architecture and showcase the underlying Islamic values of privacy and spirit.

“The project is divided into two plots and is spread over a site area of 7,147 sq m with a maximum of seven floors above ground level allocated for office use and 4,150 sq m with 35 floors allocated for residential use,” said Ahmed Al-Subih, Marketing Head, Wafra Real Estate Company.

“The fundamental organising element to most urban planned buildings and projects in the Islamic world was the courtyard; while the importance of a courtyard is to create an open space in the centre, we have attempted to create it as an object surrounded by the building programme.”

Keeping the Islamic ethos in mind, elaborately patterned mashrabiyas will adorn the exterior facade of the buildings, while beautiful elevated gardens will be introduced throughout the buildings to create an important connection between building, man and nature and to provide a cleaner and healthier roof level condition.

“The project is progressing at a rapid pace, with the licensing for the commercial complex complete and the residential license in its final stages, we hope to begin construction by the end of 2012,” added Al-Subih.

Meanwhile Reem Investments, another major Abu Dhabi based developer at this year’s Cityscape Abu Dhabi is launching a new self storage facility in the heart of their emerging Rawdhat community development on Airport Road.

The state of the art purpose-built self storage facility, known as ‘redbox’ will provide short and long term, climate-controlled secure storage options accessible to customers 24 hours a day.  Available spaces range from 25 sq ft to 300 sq ft and customers will only pay for the space they need.

“Reem Investments is always looking at enhancing the lifestyle in our developments. We have identified self storage, a common feature of most developed capital cities, as another special offering to people who live in and around our Rawdhat development,” said Bambang Sugeng Bin Kajairi, chief executive officer at Reem Investments.

“This is the only high quality self storage of its kind on Abu Dhabi island and we are receiving enquiries now from commercial entities and individuals in the capital with a plan to open the facility in the last quarter of 2012.”

Fellow exhibitor Manazel Real Estate also unveiled its latest project at Cityscape Abu Dhabi – a 500-villa complex exclusive to UAE Nationals. Aptly named Dari, or “my home” in the local dialect, the project will help Nationals take advantage of Emirati housing loans and assist local landowners in constructing and maintaining housing structures on their plots.

Manazel’s chairman Mohamed Mahana Al Qubaisi said: “We are proud to launch Dari at Cityscape Abu Dhabi 2012. The inauguration of the project at the exhibition is in step with our dedication to the progress of this great nation and its people. Manazel plans to complete 200 villas in 2012, with another 300 following suit in 2013.”

Cityscape Abu Dhabi returned this year with regular event feature, the Cityscape Awards for Real Estate – Mena, which took place last night, and celebrated the latest cutting-edge projects shaping modern city skylines across the Middle East and Africa.

Among the notable winners last night were Abu Dhabi Health Services Company (Seha) and Skidmore, Owings and Merill which won the Best Sustainable Development Award for the Sheikh Khalifa Medical City, and Aldar Properties which took home the Mixed Use Project Award (future) for its World Trade Center Abu Dhabi development.

Other winners included Sorouh Real Estate for its Sun & Sky Towers development in the Mixed Use Project Award (built) category, and Sumou Real Estate Development Company for its Bawabat Makkah project in the Best Urban Design & Master Planning Award category. – TradeArabia News Service




Tags: Kuwait | residential | Manazel | Cityscape Abu Dhabi | Project launch | Reem | Wafra |

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