Chinese investment seen in Al Reem Island
Abu Dhabi, January 27, 2014
The newly opened Reem Diamond luxury residential project in Abu Dhabi is attracting overseas investment, especially from the Chinese, who have booked units in the seaside project, said a top official.
“The seaside development which supports a natural and open-air lifestyle triggered a huge demand from investors, said Anthony Poon, director of Property Development at Hong Kong based construction conglomerate Chun Wo Development Holdings.
He was speaking at the official opening of the Reem Diamond at a ceremony attended by Perry Fung, regional director, Middle East and Africa, HKTDC and Abdulla Saeed Al Qamzi, managing director of Khidmah.
“With Dubai winning the Expo 2020 bid and the UAE authorities introducing new legislations and regulations, many keen investors understood these as a clear ‘go ahead’ signal to invest in properties such as Reem Diamond Residence,” Poon added.
Reem Diamond Residence is the first exclusive residential project in Abu Dhabi from Chun Wo Development Holdings Ltd that aims to gain a firmer foothold in the Middle Eastern property markets through strategic developments such as this unique project.
“This exclusive project symbolizes our quest for meticulous standards in property developments. I am proud to say that on this mission, Reem Diamond Residence has succeeded beyond expectations. Our residents are able to retreat from the hustle and bustle of the city and retain a peaceful and cozy way of living,” Poon continued.
Poon also announced the appointment of Khidmah, one of the leading property management companies in the GCC which serves the finest property brands, as the trusted property management company of the building that he described as a low-density residence that sits right by the beachfront.
The Reem Diamond has a total saleable area of approximately 61,686 feet and it houses 48 units ranging from one-bedroom units to three-bedroom duplexes. The residential building features an infinity sky pool, spacious balconies with sea views, and tailor-made floor plans to cater to a wide range of individual tastes.
Chun Wo plans to hold part of the building as their group’s investment. Reem Diamond is now officially open to public for lease.
The first residential project in Abu Dhabi to be financed and developed by a Hong Kong Developer is strategically located at the Shams Abu Dhabi of Al Reem Island, a natural island 600 meters off the coast of Abu Dhabi.
The Island is one of the emirate’s first free zones where foreign nationals can purchase property on leasehold.
The building, which is located on the beachfront in the prestigious Gate District and has direct access to the beach commanding panoramic mangrove views, is designed as a low-density 10-storey, exclusive living habitat for 48 residents only, amid super-high rise curtain-walled building clusters. – TradeArabia News Service
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