The Abu Dhabi-based Hydra Properties (Hydra) specializes in real estate investment, development and property management.

Hydra, which is the real estate arm of the conglomerate Royal GroupRoyal Group, owns and operates developments primarily in the UAE. Among these is the Hydra Avenue Towers, comprised of six towers located on Al Reem Island, due to be completed in 2011. Also on the Island is the Hydra Executive Towers project, which consists of three commercial and residential towers. Other UAE developments include the Hydra Twin Towers, Hydra Corporate Towers, Golf Walk, Downtown Tower, Marina Spirit and Hydra Village among others.

The company began its first international expansion in June 2007, with the launch of the AED1.8 billion (USD490 million) Hydra Waves in Mazatlan, Mexico. By the time it is completed in 2011, the development will include a five-star hotel, a residential complex of 1,000-apartments, a shopping mall, a 1,000-seat conference center and other amenities.

Regionally, Hydra entered into a joint venture with Al Aqeelah LeasingAl Aqeelah Leasing in March 2008, to establish the Kuwait-based Hydra Al Aqeelah Development Company. The subsidiary’s mandate will be to develop the Al Aqeeq Marina in the resort city of Khairan.

Hydra signed an agreement with Dubai-based Noor Islamic BankNoor Islamic Bank in August of 2008 to provide Shariah-compliant property financing options to investors.