Posted by Bob Brunskill
Abu Dhabi's Al Reem Island will be the site for a new AED 1.2 billion four-tower residential project, the Carina Views towers.
Announcing the project, Kuwaiti developer National Real Estate Company (NREC) said the towers, which will cater to middle-income professionals, reflect the firm's confidence in Abu Dhabi's real estate market.
Khaleel I. Al-Abdullah, chief executive officer at NREC, said there are still many opportunities for investors and developers to meet Abu Dhabi's burgeoning housing demand.
"We decided to enter the market and target mid-income professionals to fill a gap that was very much there. We are confident in Abu Dhabi and the UAE, and Carina Views is the first of many UAE projects we are embarking on," he added.
Carina Views will be NREC's flagship project for Abu Dhabi, featuring 684 units with floor-to-ceiling windows and balconies with sea and city views.
Meanwhile, it was reported this week that the luxury Canadian hotelier Four Seasons is to open a new business hotel on Sowwah Island in the heart of Abu Dhabi's central business district.