Abu Dhabi: Sales of properties in Reem Island start
Abu Dhabi has commenced sales of residential property to foreigners on 99-year lease contracts on Reem Island with the launch of the Pearl of the Emirates project, the property managers said. According to Gulf News, the estimated Dh2 billion phase one development consists of 15 towers and a five-star hotel with associated facilities.
Abu Dhabi's Al Reem Island is 300 metres offshore and will be linked to Abu Dhabi by two bridges. The entire development is scheduled for completion by 2011.