Al Reef Downtown joins the ranks of Arabian, Mediterranean and Desert Villages in Al Reef Community, all of which have been completed in succession over the past two years.

Abu Dhabi, February 14th 2012: With an ever-growing list of accomplishments under its belt, Manazel Real Estate propels itself forward with the prompt completion of its projects one after the other. Al Reef Downtown is a prime example of this, having completed yet another stage of its development with the handover of 9 of its 46 buildings. It is part of Al Reef Villas Community, a compound of themed residential communities and commercial districts spanning an area of 1 million sq. meters, located in close proximity to Abu Dhabi International Airport. Al Reef Downtown will act as an epicenter of lifestyle and commercial activity within Al Reef Villas, tying together its four villa clusters: Arabian, Mediterranean, and Desert, and providing its residents with a one stop shop for all their daily needs.

The first stage of Al Reef Downtown's development was completed in December 2011, with the handover of 336 residential units. This will be followed by the delivery of 347 units by the end of April 2012, 343 units in July 2012, and 340 units the following September. The final phase will be completed with the handover of 452 residential units, in addition to retail stores and the community plaza at the end of December 2012.  

HE Mohammed Mehana Al Qubaisi - Chairman of Manazel Real Estate - expressed his pride at the completion of Al Reef Downtown, siting it as a key binding agent in bringing together the surrounding villages, where it will serve as a hub for residents looking for the highest standards of service and luxury. Al Qubaisi continues: "In keeping with Abu Dhabi's continuous march towards progress and its 2030 vision, Manazel has recently completed a district cooling station entirely dedicated to Al Reef Downtown. Al Reef Cooling, valued at 101 million AED, will provide the area with 8000 tons (28,000 KW) of chilled water energy. This will aid in significantly reducing harmful emissions and overall energy consumption to ensure a safer future for generations to come."

Al Reef Downtown is nestled in the center of the Al Reef Villas development, occupying a total area of 130,639 sq. meters. It consists of 46 G+5 buildings which include 1818 residential units spanning a wide range of layouts including spacious studio, one bedroom, two bedroom and three bedroom apartments, ranging from 33 to 231 sq. meters in size.

Al Reef Downtown will include popular commercial and retail amenities in addition to banks and currency exchange outlets. Local residents will no doubt be delighted to learn that Geant supermarket has signed its second contract with Manazel to open a 2000 sq. meter store within Al Reef Downtown. The first contract was signed earlier this year, marking Geant's first hypermarket within the Abu Dhabi emirate at Manazel's Capital Mall, where it will occupy a 7200 sq. meter retail space.

The owners and tenants who will reside within the community will do so within a safe, family-geared environment, which goes hand in hand with Manazel's vision for the Al Reef Villas development.

Al Reef Villas encompasses a total of 4194 residential units and villas, with a capacity to accommodate approximately 15,000 residents. It is located in close proximity to Abu Dhabi International Airport, Al Falah, Shahama and Al Raha Beach communities, right on the expressways leading to Al Ain, Dubai, Yas Island, and the Sheikh Zayed Bridge respectively. Al Reef Villas has been designed as a complete residential community, containing amenities such as three mosques, six community centers, a school and nurseries. This is in addition to pools, gyms, and round the clock security to ensure the safety of its inhabitants.

-Ends-

About Manazel Real Estate
Headquartered in Abu Dhabi, Manazel Real Estate is counted as one of the region's leading Real Estate developers of large-scale superior quality residential, retail, and commercial property projects for those with a medium income, which includes residents of the United Arab Emirates, as well as branching out to residents of the Middle East and North Africa. Manazel is strongly dedicated to the development of lively compounds within well-planned, richly serviced environments.

Manazel Real Estate is the first private shareholding company in the Emirates which accumulates its capital through initial offering, in accordance to Shariah law.

Among the most important projects currently in development by Manazel Real Estate, is Dunes Vilage at Dubai Investment Park, Al Reef Villas, near Abu Dhabi International Airport, and 9712 Capital at Mohammed Bin Zayed City.

For more information regarding this press release, please contact:
Mr. Eyad Al Badda
00971 50 8946650
00971 4 3448807
eyad@mediumr.com
Medium Rare - Media & Public Relations Division

© Press Release 2012