Kuwaiti developer announces 4-tower AED1.2 billion Al Reem Island project
Kuwaiti developer, National Real Estate Company (NREC) confirmed its confidence in Abu Dhabi’s real estate market today; the company has announced an AED1.2 billion four-tower residential project to be developed on Najmat Abu Dhabi on Al Reem Island. The waterfront ‘Carina Views’ towers have been specifically designed to meet the needs of the middle-income professionals.
Kuwait-based NREC is a leading regional real estate investment and development company that owns and manages properties and assets throughout Kuwait, the Middle East and North Africa. Carina Views is NREC’s flagship development for Abu Dhabi, and situated on the master development of Al Reem Island- Najmat, Abu Dhabi.
There have been discussions that Abu Dhabi had a shortage of affordable housing options. Khaleel I. Al-Abdullah, Chief Executive Officer at NREC said: “Even with the economic crisis, accommodation requirements still need to be addressed in Abu Dhabi. 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.”
The 684 Carina Views units are priced reasonably, and offer well-designed spacious housing which include quality fixtures, finishes and fittings throughout. Globally-recognized KEO International Consultants have been hired to ensure that the architecture of the buildings is cutting-edge and modern. The interiors will be spaciously-designed, and the apartments will enjoy floor to ceiling windows, most with large balconies offering sea and city views.
Standing at 22 stories each, the four residential towers are strategically located at the entry to Reem Island approximately 300 metres from Abu Dhabi Island. The project covers a built-up area of 156,800m², providing buyers with a variety of units to choose from, including 1 Bedroom, 2 Bedroom and 3 Bedroom apartments; 2 and 3 bedroom duplex penthouse apartments and; 8 exclusive water villas.
Each tower will house state-of-the-art amenities like fully equipped gymnasiums, community rooms, two infinity swimming pools, a children’s area and barbeque facilities. Ample and secure basement parking will be provided to all tenants. The developers have ensured the towers are surrounded by lush landscaping and elevated gardens.
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