|08 April, 2019

New $1.3bln Jubail Island master development launched in Abu Dhabi

Huge new 400-acre project sits on a site between Yas Island and Saadiyat Island

Jubail Island launches in Abu Dhabi

Jubail Island launches in Abu Dhabi

Jubail Island / Handout via Zawya

A 5 billion UAE dirham ($1.4 billion) master planned development known as Jubail Island has been launched in Abu Dhabi. The development will be sandwiched between the Yas Island and Saadiyat Island developments, it was announced on Monday.

The 400-acre low-density community is "designed to appeal to wellness and nature enthusiasts," and includes residential, retail, hospitality, entertainment, and education offerings, the project's developer, Jubail Island Investment Company (JIIC) said in a press statement.

The statement said the project has been designated as an Abu Dhabi investment zone and features six investment zone villages - Marafaa Al Jubail, Nad Al Dhabi, Seef Al Jubail, Ain Al Maha, Souk Al Jubail and Bed'a Al Jubail.

It said the 13-kilometre waterfront project would comprise a mix of serviced plots, high-end and midrange properties that would cater to nationals and the rental market, and would house a resident population of 5,000-6,000 people after completion.

The project is slated for completion in the fourth quarter of 2022 with plot handovers starting in the first quarter of 2021, the statement added.

Other elements of the project, according to the statement, include Town Centre hub, featuring apartments, an office park, office villas, and a hotel, as well as F&B outlets, a beach club, a business centre, a sports centre, schools, supermarkets, nurseries, a community club, specialised clinics and other commercial establishments.

It said the project was designed and planned by a consortia of international firms - Arquitectonica from the US, Ramón Esteve from Spain and Broadway Malyan, with Lead Development mandated as the development management firm.

The project is set to enhance the island's natural ecosystem through planting new mangrove forests as well as adding over 10 kilometres of canals and other new marine habitat, the statement concluded.

(Writing by Madhura Deulgaonkar; Editing by Anoop Menon)


Our Standards: The Thomson Reuters Trust Principles

Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.

© ZAWYA 2019