Al Reem Island is a business, commercial and residential project development located on Al Reem Isle, an island just off the coast from Abu Dhabi city and just twenty minutes away from Abu Dhabi International Airport. The development has previously been called The Pearl, Emirates Pearl Island and Abu Al Shuoom. Al Reem Island will be connected to Abu Dhabi city by two bridges and is being developed by three different developers, Sorouh Real Estate, Tamouh Investments and Reem Investments. The project encompasses over 68 million square feet and development costs are expected to exceed $30 billion.
There are several divisions in the Al Reem Island project. Pearl of the Emirates by developer Tamouh Investments includes a 5-star hotel and 15 towers. Within the Pearl of the Emirates Development is Marina Square, which includes both commercial and residential districts. The project will contain 14 waterfront towers, including Tala Tower (Sorouh Real Estate), Marina Heights 1 and 2 (Profile Group Properties), and Ocean Terrace Residence (First Gulf Bank). Addax Port is another development within the Pearl of the Emirates and includes 5 towers (Park Tower, Office Tower, Marina Tower, Light Tower and Executive Tower).
Al Shams Abu Dhabi is a residential development of Sorouh Real Estate, which covers an area of 14 million square feet and is scheduled to be complete in 2011.
Najmat Abu Dhabi, developed by Al Reem Investments is a waterside community that will accommodate 80,000 residents and cover an area of 20 million square feet. The project is scheduled to be complete in 2012.
The project has gained a lot of interest from foreign investors, as it is one of the first free zones established in Abu Dhabi, allowing foreigners to purchase property as a 99-year leasehold. 22,000 or more residential units are planned to be constructed, with the first scheduled to be complete in Marina Square in 2009. It is estimated that Reem Island will house 280,000 residents and will feature social services and amenities including medical clinics, schools, restaurants, shopping malls, a golf course, spas, resorts, hotels, and beaches.
Al Reem Island will offer all the amenities and attractions of a city combined with the peace and serenity of an island. In addition to all the residential, commercial and business opportunities, Reem Island will also provide many opportunities to engage in leisure and recreation activities such as snorkeling, water-skiing, scuba diving, sailing and fishing.
Al Reem Island is connected by two bridges to Abu Dhabi city and is conveniently located just twenty minutes away from Abu Dhabi International Airport. The Al Reem Island development, as the first freehold property in Abu Dhabi, is an important project that will help to bring foreign investment and interest to Abu Dhabi and help to diversify its economy to rely not only on oil revenues, but business and real estate services and tourism as well. With all the numerous residential, business and commercial opportunities available, Reem Island will operate as a major metropolis helping to put Abu Dhabi on the international map.
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