UAE-based real estate developer Bloom Holding has announced the launch of enabling works within ‘Park View’, a mixed-use development taking shape in the university neighbourhood of Saadiyat in the capital Abu Dhabi.

A subsidiary of National Holding, Bloom is a group of companies dedicated to developing sustainable and integrated urban communities that offer an enriching lifestyle and quality of life.

The residential component of the Park View development will include a total of 234 units ranging from studios to two-bedroom apartments.

Upon completion, the development will boast 217 furnished and serviced hotel apartments featuring studios, and one- and two-bedroom executive apartments.

It will also comprise a wide range of commercial and leisure facilities including retail outlets, restaurants, Abu Dhabi’s first sky pool 30 m above the ground, a hitech gym, and a fitness centre.

Bloom has awarded the enabling works contract to Gulf Foundation, a leading player in the UAE construction industry noted for completing several projects in Abu Dhabi and the wider UAE.

Mobilisation to the site will be on schedule, said the Abu Dhabi-based company.

The announcement follows the massive success of Bloom Holding’s launch of Park View on the opening day of Cityscape Abu Dhabi 2015, receiving overwhelming response from buyers and investors who were drawn by the attractive rental yields and potential long-term price growth prospects of the project.

Gulf Foundation is expected to finish the enabling works by April while all main works on the project are set for completion by September next year.

Sameh Muhtadi, the CEO of Bloom Holding, said: “We have assigned Gulf Foundation to implement the enabling works of this important project that requires extensive experience and highly qualified team to ensure the quality of our development. We are pleased to have met this milestone on schedule as per our commitment to our investors.”

Salim Farah, the general manager, Gulf Foundation, said: “It is a privilege to work with Bloom on such a prestigious project.  We are grateful for Bloom’s confidence in our ability to contribute to their long-term business focus and strategy and sustain their leading position in the real estate development market."

"We are fully committed to delivering the works within the completion date and to the quality standards expected by Bloom and their stakeholders," he added.-TradeArabia News Service