Abu Dhabi, 12 February 2011: Baniyas Investment and Development Company (BID), the investment arm of Bani Yas Sports Club, was assigned to develop the 2030 Tower, a AED 170 million residential and commercial Tower in Sowwah Island, Abu Dhabi's new business district, by Endless Real Estate Investment Company.
Located at the heart of Sowwah Square, right across from Cleveland Clinic, the new 20 storey residential and commercial tower will cater to the various needs of people working on the Island. The 2030 Tower will consist of luxurious 1, 2 and 3 bedroom apartments, retail spaces, coffee shops as well as a state of the art gym with Jacuzzis.
In his commentary Wael Tawil, CEO of the Baniyas Investment and Development Company said, "As a specialized business centre, Sowwah Island will meet the various requirements of the business community in the Emirate of Abu Dhabi with its modern infrastructure and dedicated business environment. We are delighted to be the partner of choice for Endless Real Estate Investment in developing this commercial and residential project. We are looking forward to kick off the works on this project which will create a perfect luxurious living atmosphere for the people working on the Island."
Khalid Al Hashimi, Managing Director of Endless Real Estate Investment Company said, "Housing the capital's Financial District as well as the Cleveland Clinic, Sowwah Island will be the new business hub in Abu Dhabi. We are happy to work with Baniyas Investment and Development Company to develop the 2030 Tower, the first of its kind commercial and residential project in Sowwah Square."
Commercial Vice President at Baniyas Investment and Development Company Wael El Ashry said, "With a strategic location, right across the Cleveland Clinic, the 2030 Tower will be the focus of all investors and employees working in the medical institution and on the Island in general. Units in this tower will be available on a freehold basis for both UAE nationals and expatriates at competitive and attractive prices."
Baniyas Investment and Development Company is currently developing an AED 3 billion mixed use community project in the city of Bani Yas. Bawabat Al Sharq consists of luxurious villas and apartments, modern sports and healthcare facilities, a shopping mall and a FIFA standard football stadium with the capacity to welcome 20,000 spectators. Construction on the first phase of this project, which consists of 56 villas and 164 apartments has been completed and the Bawabat Al Sharq Shopping mall will be launched in May 2011. Units in this phase will be delivered to their owners as soon as the infrastructure works, currently being developed by Al Jaber Group, are completed.
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About Baniyas Investment and Development
Baniyas Investment & Development Company was established in 2005 as a majority owned subsidiary of Bani Yas Sports Club. It is the investment and development arm of the Bani Yas Club with its main activities focusing on investment, development and management of real estate projects. Aiming to play a pivotal role in contributing to real estate development, Baniyas adheres to the highest standards of integrity in its business dealings. Currently, the company has an impressive pipeline of opportunities and projects including master planned communities, residential and commercial towers in the UAE, with Bawabat Al Sharq representing the first of several pioneering plans to be publicized by Baniyas in due time. Bawabat Al Sharq will elevate the leisure, commercial and tourism appeal of Bani Yas.
For further information, please contact
Muriel Farah,
Baniyas Investment & Development,
Abu Dhabi
Tel: +97150-667 5488;
E-mail: mfarah@baniyas.ae
Maya Kheshen,
Baniyas Investment & Development,
Abu Dhabi
Tel: +97150-294 0472;
E-mail: mkheshen@baniyas.ae
© Press Release 2011
