The launch of a Dh4 billion mixed-used residential and commericial 'Building Materials City' was recently announced by Manazel Real Estate.
'Building Materials City' will feature 49 skyrise residential and commercial towers, a hotel, 100,000 sq. meter shopping centre and other amenities, according to Khaleej Times. It will also feature the first building materials exchange in the Middle East.
"The construction work on the project will commence in January 2007 taking three years to complete," said Mohammed Mehanna Al Qubaisi, Chairman, Manazel Real Estate, who added that the total cost of the project is estimated at Dh4 billion.
The project will be located at a prime location between Musaffah Bridge and Mohammed Bin Zayed City near the Abu Dhabi International Airport.
