Wednesday, December 19, 2007

Al Reem Island gets Dh25.55b in investment

Dubai: The Al Reem Island project has attracted more than Dh25.55 billion in investments, according to Dr. Abdul Rahman Al Tassan, CEO of Rakaa Properties, the real estate subsidiary of Rakaa Holding.

These investments exclude the construction of towers and bridges, real estate services, management services, power plant contracts and various other infrastructural services. These substantial figures indicate the significance of the island on the architectural map of Abu Dhabi.

Al Tassan, whose company has invested Dh1.2 billion in developing three smart home technology-equipped towers on Al Reem Island said the emirate's freehold law has contributed to the demand for commercial and residential units.

Various real estate reports have categorised Al Reem Island as a first class tourism project featuring the latest in smart home technologies.

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source: zawya.com

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