Baniyas Investment & Development announces AED2.2bn multi-use project in Baniyas city

- Project due for completion in 2009

- Will house 3000 people

- Major shopping mall, school, medical center, ballroom and sports club

December 30 2007, Abu Dhabi - Baniyas Investment & Development (BID) Company, established in 2005 as a majority owned subsidiary of Baniyas Sports Club, has announced the launch of a multi-use real estate project in Abu Dhabi's Baniyas city worth AED2.2 billion.

"This multi-use development will elevate Baniyas's leisure, commercial and tourism appeal. The 108-hector project will provide the community with modern residential, commercial and entertainment facilities in addition to a brand new headquarters and sports facilities for our Club," commented a BID company official. "This project is about to enter the initial construction phase, and represents the first of several pioneering plans which will be announced by BID in due time."

 The development will include villas in various sizes and designs, in addition to commercial and residential towers. The design and major plans have been in the works since early 2007, and once complete in 2009, the Baniyas development will have the capacity to house approximately 3000 persons.

A 140,000m² shopping mall will house 225 merchants and a 2280-car parking lot. The shopping centre is the first of its kinds for the city of Baniyas, and will represent a focal point for shoppers. A fully-equipped medical center staffed by international professionals will offer the city expert general medical services. BID will also construct a modern school managed by a leading Swiss organization, in addition to a ballroom to be used for special occasions which can be utilized free of charge for the residents of Baniyas and neighboring areas.

Aiming to play a pivotal role in contributing to the real estate developments in Abu Dhabi, BID will be incorporating leisure facilities into this project. A "Baniyas Sports Club" will house a main stadium that can seat 20,000 spectators, in addition to seven training fields and a number of indoors multi-purpose courts.

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© Press Release 2007