Masterplans and Joint Venture Developments
Al Raha Beach Investment Area
The Al Raha Beach Development is a US$15 billion development master-planned to house 120,000 residents and positioned as a new waterfront city built alongside 8.5km of beach front over a land area of about 556 ha.
Phase 1 of the Al Raha Beach Development comprises five precincts along the eastern stretch; namely Al Bandar, Khor Al Raha, Arabian Gardens, Al Wateed and Al Seef, to be developed in that order. The infrastructure development for Al Raha Beach is at an advanced stage with reclamation works near completion and infrastructure for Phase 1 of the Development targeted for completion in 2009.
Al Muneera Site
The site is located within Khor Al Raha Precinct, one of the five Precincts in Phase 1 of the Al Raha Beach Development (which has a total of 11 Precincts). The Al Raha Beach is the first designated Investment Area in Abu Dhabi (where foreign investment in real estate is allowed).
The 13.6-ha site comprises two waterfront plots - an island plot connected to the mainland plot by two access roads and one pedestrian bridge. The site is designated for a mixed use development of residential, retail space and office space. The JV will only be involved in the residential component, which will be developed for sale.
The proposed development will comprise 1,198 apartments, 168 townhouses and 11 villas.
Common recreational facilities such as a swimming pool, clubhouse, gymnasium, children’s playground and landscape garden will be provided within the development.
The development is expected to complete by mid-2011.
Yas Island
Yas Island occupies a total land area of 2,500 ha and will feature attractions such as a world-class motor sports racetrack, signature hotels, the Ferrari theme park, water park, luxury residences and 250,000 sm of retail development. It is a US$40 billion development planned to house a total of 120,000 residents.
The Ferrari theme park, F1 race track and the retail mall are scheduled to be completed by 2009. A 10-lane main access highway, when completed by end-2008, will run across the island, providing faster access to downtown Abu Dhabi.
Waterfront development at Yas Island
The site, the first residential development on Yas Island, occupies 60 ha with a 1.5-km long marina frontage. It is located at the southern tip of Yas Island and is directly opposite the Al Muneera site, separated by a 800-m wide water channel.
It is envisioned to be an exclusive waterfront residential community comprising low-rise, low-density landed housing and medium-rise condominiums.
Complemented by world class marina facilities, and F&B/ancillary retail outlets on a sea-fronting promenade. it will offer an unique lifestyle concept centred on the marina and seafront, providing a new destination in Abu Dhabi for the residents to live, work and play. The development will also be integrated into the overall masterplan of Yas Island to make full use of the planned leisure and retail facilities around the island.
The project will be developed in phases, with the launch of the first phase targeted by mid-2008 and its completion by mid-2011.
Complementing the JV’s residential development will be surrounding facilities to be developed by ALDAR including a world class marina, F&B and ancillary retail outlets on a sea-fronting promenade. ALDAR will also complete the construction of an additional 6-lane access road and bridge by end-2008 to connect the southern tip of the Island to the mainland near to the airport.