Eshraq Investments ' Marina rise development receives building completion certificate

Marina Rise will be the first development executed by Eshraq to contribute to its recurring revenues

Eshraq Investments ' Marina rise development receives building completion certificate

Abu Dhabi, UAE: Eshraq Investments PJSC ("Eshraq" or "Company"), the Abu Dhabi-based investment company listed on Abu Dhabi Securities Exchange ("ADX"), announced that its maiden mixed-use project Marina Rise has received Building Completion Certificate from Abu Dhabi Municipality, paving the way for the handover of the project's commercial and residential units. Marina Rise will be Eshraq's first developmental project to contribute to the Company's bottom line. 

Marina Rise Tower, located on the west side of Reem Island, is a mixed-use building with residential and commercial units. Marina Rise Tower (has a height of 110 m and consists of two basement levels (for parking), two podium levels (commercial and parking), 24 residential floors with a total of 233 residential units and 271 parking spaces. The apartments vary between 84 studios, 116 one-bedroom, 27 two-bedroom, six three-bedroom apartments and two penthouses of 3 and 4 bed rooms.

Ajit Joshi, Delegated Member of the Board of Directors of Eshraq, said, "We are excited to have completed our first development project Marina Rise within the planned timeframe despite the many hurdles created by the pandemic. The development not only demonstrates the technical excellence of the team but will also be an important step towards monetizing our land bank and improving our bottom line."

Joshi, added: "Our goal was to develop an upscale mixed-use project that would attract interest from Millennials and other customer segments, particularly those who work in or near ADGM and Hub 71. We are also seeing a lot of interest in the project's commercial spaces as it offers great opportunities for businesses looking to operate from a strategically located site. Marina Rise will undoubtedly add to the vibrancy of the Reem Island community."

Built to create a lush residential community where people can live, earn, play and have educational and health facilities in the same vicinity, Reem Island will include residential and commercial buildings, private houses, schools, a university, a hospital, marinas, open spaces and an extensive network of parks, modern infrastructure including roads, water and electricity supply, a public transport system, a district cooling system, a sewage and storm water collection system and a sewage treatment plant.

Khatib and Alami is the design, supervision and architectural consultant, while Al Sweidi & Shams Contracting Co is the main contractor.


About Eshraq Investments:

Eshraq Investments is an investment company with an extensive portfolio of residential, hospitality and other real estate projects. Eshraq also has a diversified investment portfolio across equities, fixed income, private equity and debt products. For further information, please visit 

For media inquiries, please contact:
Dhanya Issac
Dubai, UAE
Tel: 971-4-450-7600


Send us your press releases to

© Press Release 2021

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release 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. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.

More From Press Releases