Aldar completes land reclamation and dredging for Coconut Island |
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Dubai: Aldar PropertiesAldar Properties
, Abu Dhabi's leading integrated property developer, on Sunday said it has substantially completed the land reclamation and dredging for Coconut Island, its premium island resort and gated residential development located off the Abu Dhabi west coast. The project is a joint venture with National Corporation for Tourism and Hotels (NCT&H)National Corporation for Tourism and Hotels (NCT&H) and is expected to be completed in 2010.
The master plan of Coconut Island and the appointment of Denniston International Architects and Planners have both been approved.
In addition, the island's new lagoon, which will form its centre-piece, has started taking shape. The next phase of the project will involve soil investigation, soil improvement and shoreline protection works prior to commencing the infrastructure and buildings.
Coconut Island is planned as a five-star luxury resort, which will comprise approximately 160 guest rooms ranging from standard to presidential, a spa, restaurants and marina. The island has a natural sand bar surrounded by clear turquoise waters.
In addition to the resort, the island will feature four and three-bedrooms apartment buildings as well as six, five and four-bedroom villas, each with spectacular views of the Arabian Gulf, for sale exclusively to UAE nationals.
Greater choice
Rami Hreiki, senior project leader at Aldar PropertiesAldar Properties, said: "Both AldarAldar and NCT&HNCT&H have a vested interest in the future of Abu Dhabi and in developing quality projects that generate greater choice for residents and tourists. Both partners have accomplished a great deal at this early stage in the development and we will continue to strive to bring this exciting project to fruition."
Aldar PropertiesAldar Properties is a premier real estate development, management and investment company with headquarters in Abu Dhabi. It was founded to spearhead the development of Abu Dhabi's strategic sites to fast track real estate investment opportunities within Abu Dhabi and the Emirates.
It has already announced more than $60 billion worth of developments and as of 30 May 2007, the company's market capitalisation is $3.5 billion. The total retail area of all developments is currently over 1.5 million square metres.
The current property portfolio includes major developments and re-developments within the Abu Dhabi Emirate such as Central Market, Al Raha Beach, Coconut Island, Noor Al Ain, Al Gurm Resort, Al Mamoura - the Mubadala Development CompanyMubadala Development Company and Environment Agency Abu Dhabi Headquarter Building, as well as the YAS Island project, which includes a Warner Bros and a Ferrari theme park.
By Staff Reporter
© Gulf News 2007
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