Posted by Neil King
Sorouh Real Estate has begun development on infrastructure projects in the low-rise Alghadeer residential community.
The work includes about 10 kilometres of roads and associated utility networks, including power, water, waste water and surface water drainage, Gulf News reported.
Alghadeer is located an equal distance between Abu Dhabi and Dubai.
The news provider noted that the residential destination is part of Seih Sdeirah and is the largest development with investment zone status in the UAE.
Gurjit Singh, Sorouh's chief operating officer, said: "The Abu Dhabi market's fundamentals remain strong and are underpinned by a growing and diverse economic base."
"Alghadeer is strategically located. The first phase is to be positioned as a new community serving the major employment centres of Abu Dhabi and Dubai."
This week, a research note issued by investment bank Nomura International claimed that the UAE will return to a double-digit budget surplus this year thanks to rising oil prices and the country's plentiful financial assets.