tdic enters residential real estate sector- expressions of interest open for saadiyat beach residences

Published May 10th, 2008 - 04:33 GMT

Tourism Development & Investment Company (TDIC), the leading tourism asset developer in Abu Dhabi, has entered the UAE capital’s highly buoyant residential real estate market with the opening of expressions of interest for the first phase of its prestigious Saadiyat Beach Residences.

Expressions of interest are being taken for the first of seven secure coastal neighbourhoods which will skirt the championship Saadiyat Beach Golf Course – the Arabian Gulf’s only ‘ocean’ course with several beachfront holes, designed by golfing legend Gary Player.

“This is the beginning of a dynamic chapter in TDIC’s history,” said Mubarak Al Muhairi, Managing Director, TDIC. “It also represents a major milestone in the development of Saadiyat Island.”

The limited Phase One release comprises a range of unparalleled investment opportunities in elegant three to seven bedroom villas and townhouses. Some of the villas will have their own gym, elevator, swimming pool and movie theatre. UAE and GCC national investors will be offered homes on a freehold basis with expatriates qualifying for 99-year leases.

Expressions of interest are being registered via phone to a dedicated call centre on: 600 5 22299, from today (Sunday May 11th) on a first-come, first-served basis. Potential investors looking to review the development can also visit the TDIC stand at Cityscape Abu Dhabi running at the Abu Dhabi National Exhibition Centre from May 13-15.

 

“TDIC will bring to the residential segment the same level of commitment to world-class quality, environmental stewardship and respect for local cultural sensitivities that it is now synonymous with on the global cultural and leisure landscapes,” said Lee Tabler, CEO, TDIC.

Each Saadiyat Beach residential neighbourhood will have its own park, the best of community facilities, including a 25 metre swimming pool, convenient shopping at a main village centre with a supermarket, cafés, restaurants and beauty salons, access to active marinas and a larger community park. Residents will also qualify for membership of a private beach club.

“Each neighbourhood has been sensitively masterplanned with a sustainable development mandate to enhance overall liveability,” explained Tabler.

Saadiyat Beach neighbourhoods have three villa/townhouse styles – Arabian, Mediterranean and Contemporary - designed by America’s multi-award-winning JZMK Partners which has been repeatedly honoured for design excellence by both the architectural community and building industry.

Highly contemporary interiors, which make extensive use of natural products, have been designed by California’s Creative Design Consultants, which consistently appears in Interior Design Magazine’s list of 100 Giants.
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“This is a premium development. It will be a premium address which will command premium pricing with anticipated premium returns,” explained Tabler.

“Where else in the world will residents live on a championship golf course, with fabulous beach-front settings yet be just minutes away from the largest single cluster of world-class cultural assets?”

 

 

The Saadiyat Beach district – one of seven distinct districts which comprise the Saadiyat Island development – is just a five minutes’ drive from the destination’s now renowned Cultural District which will be home to iconic museums and arts centres. These include the Sheikh Zayed National Museum, the Guggenheim Abu Dhabi Museum, the Louvre Abu Dhabi universal museum, a performing arts centre and maritime museum. All have been conceptualised by internationally acclaimed architects including Lord Foster for the Sheikh Zayed National Museum, Frank Gehry for the Guggenheim Abu Dhabi, Jean Nouvel for the Louvre Abu Dhabi, Zaha Hadid for the performing arts centre and Tadao Ando for the maritime museum.

The Cultural District will also be home to a New York University (NYU) campus – the first comprehensive liberal arts campus to be operated abroad by a major US university.

TDIC believes Saadiyat Island’s residential offerings will become a benchmark within the UAE capital’s real estate segment which is witnessing pent-up demand for properties within gated communities.

“We anticipate heavy demand for the phase one release which will also translate into early expressions of interest for the second phase launch scheduled within a few months time,” said Tabler.

Saadiyat Beach is a one-of-a-kind district with nine kilometres of uninterrupted white sand beach where nine, five-star resorts, managed by some of the world’s top hospitality brands, are planned.

Saadiyat Island’s connectivity to the UAE capital and the main airport will also boost its investment appeal. It is just seven minutes from downtown Abu Dhabi, via the 10-lane Saadiyat Bridge which is nearing completion, and 20 minutes from Abu Dhabi International Airport via the Saadiyat Link highway which is currently under construction.


About Tourism Development & Investment Company (TDIC)
Tourism Development & Investment Company (TDIC) is Abu Dhabi's leading tourism asset developer and the name behind some of the world's most significant tourism projects. Its flagship development is Saadiyat Island, a 27 square kilometre natural island lying just 500 metres offshore Abu Dhabi city - the capital of the United Arab Emirates (UAE). The island is being transformed into a signature leisure, cultural and residential destination. TDIC is also behind the unique Desert Islands project, one of the world's largest sustainable island tourism destinations currently under development.

TDIC will develop the real estate assets that support the Abu Dhabi Tourism Authority's (ADTA) mission of assisting UAE economic diversification through tourism development. With its shareholding fully owned by ADTA, the company, operates along strictly commercial lines with its projects being self-sustaining and economically feasible.

TDIC's activities include creating development and tourism related concepts for specific sites and locations; disposing of, or repositioning, government-owned tourism related assets; entering into joint ventures with investment partners for assets such as hotels or residential products; as well as serving as master developer for large scale projects.


About Saadiyat Island
Saadiyat Island - which translates from Arabic as Island of Happiness - is the Arabian Gulf's largest single mixed-use development. The 27 square kilometre natural island lies only 500 metres offshore Abu Dhabi island - the capital city of the United Arab Emirates. Saadiyat Island is being developed into a signature leisure, cultural and residential destination.

Saadiyat Island represents one of the most important development opportunities in Abu Dhabi's history. The island, which has 30 kilometres of water frontage and boasts many natural eco-features, including mangrove forests, marks a new era in the rapid evolution of Abu Dhabi, the largest of the seven emirates which form the UAE Federation.

Saadiyat Island, which, in Wall Street Journal research was tipped as one of the world's top 10 emerging 'trendy' destinations and voted the 'World's Leading Tourism Development Project' in the 14th World Travel Awards, will be developed in three phases until 2018. The masterplan envisages seven distinct districts - Cultural District, Saadiyat Marina, Saadiyat Beach, South Beach, Island Lagoons, The Wetlands and Eco-Point. There are plans for luxury hotels, over three million square metres of office space, marinas with combined berths for around 1,000 boats, two golf courses - one the UAE's first Gary Player signature course and the Arabian Gulf's first 'ocean' course - civic and leisure facilities, sea-view apartments and elite villas.

The island will also be home to the world's largest single concentration of premier cultural institutions, including the Sheikh Zayed National Museum, concept designed by Lord Norman Foster; the Guggenheim Abu Dhabi Museum of modern and contemporary arts designed by Frank Gehry; the Louvre Abu Dhabi universal museum designed by Jean Nouvel; a performing arts centre designed by Zaha Hadid and a maritime museum by Japan's Tadao Ando. Saadiyat Island is expected to be home to a community of more than 150,000 people - the same population size as Chang Mai in Thailand, Oxford in the UK or Hollywood in the USA.

Saadiyat Island will be linked to Abu Dhabi, via a Saadiyat Link road which will connect the Shahama district to Saadiyat Island, and connect to the 10-lane Saadiyat Bridge which is already under construction from Abu Dhabi's Mina Zayed area.

Saadiyat Island is being developed by the Tourism Development & Investment Company (TDIC), an independent public joint stock company of which Abu Dhabi Tourism Authority (ADTA) is the sole shareholder.

 


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