Dubai UAE, 7 August 2024: MERED, the award-winning international premium real estate developer, continues its rapid expansion across the UAE by acquiring a prime waterfront plot in Al Reem Island, Abu Dhabi. This milestone shows MERED’s strategic growth ambitions and commitment to delivering state-of-the-art residential and commercial developments to multiple hubs in the country.
The newly acquired plot spans 11,890 sq, located in the vibrant and well-connected Al Reem Island. Known for its stunning waterfront views, lively community, and part of key financial hub Abu Dhabi Global Market (ADGM), the island provides an ideal setting for MERED’s next visionary project. The island has emerged as one of the top spots for premium apartments, with investor confidence soaring in H1 of 2024, according to Bayut.
This exclusive development is the developer’s first waterfront project and will offer a combination of residential and commercial spaces characterized by innovative design and modern architecture that aligns with the company’s vision. The project is in the schematic design stage by world-famous architects. The location, currently under development, will offer robust infrastructure, excellent connectivity, and world-class amenities, making it a highly attractive investment opportunity. These factors facilitate the development of premium real estate, fulfilling the rising demand for high-end properties in Abu Dhabi.
Diana Nilipovscaia, CEO at MERED, commented, “Abu Dhabi’s real estate market has sustained its strong 2023 performance into 2024, with increasing confidence among local and international high-net-worth individuals and record-high foreign direct investments. With a 6% price appreciation for luxury residential apartments in the city in the first half of the year, this is the perfect time to begin the development of our exclusive project on Al Reem Island. Inspired by the success of our ICONIC Tower in Dubai, we are excited to bring the same quality, innovation, and sustainable development to Abu Dhabi. Our acquisition of this prime waterfront plot aligns with our vision to redefine real estate with timeless masterpieces that enhance cityscapes and enrich residents’ lifestyles.”
The project’s strategic location ensures direct access to Abu Dhabi’s key attractions and transport hubs. It is just five minutes from Reem Central Park and 10 minutes from the city’s major thoroughfare Sheikh Zayed Bin Sultan Road. Residents are 15 minutes from the Galleria Mall and cultural landmarks like the Louvre and Saadiyat Marina. Abu Dhabi International Airport is 30 minutes away, offering unparalleled convenience and luxury.
MERED has a track record of executing high-profile iconic developments swiftly and efficiently. In just one year since entering the Dubai market, the developer has launched, broken ground, and begun construction of the ICONIC Tower, set to be the tallest in Dubai Internet City at 286.4 meters. Multiple partners have been brought on board to create the ultra-luxury tower including global architectural design firm Pininfarina; Mirage for their sophisticated eye for detailed design; and Hirsch Bedner Associates (HBA) for innovative interior design, among many others. The project, with 310 luxury apartments and world-class amenities, represents the future of upscale living in Dubai.
