MERED, the Dubai based real estate developer has announced its plan to buy two beach side plots in Al Reem Island Abu Dhabi. This signifies MERED’s direction towards expanding its inventory in the portfolio which comprises of the luxurious residential and commercial buildings in the UAE.
The obtained two contiguous plots, 23,433 sq.m., are the first MERED’s successful step into”,- said Mr. Sergey Ashurbekov, the CEO of MERED, while the capital’s real estate market remains active. Al Reem Island, which is a part of ADGM and emerging luxury property hotspot, is located at an end of a bridge and has stunning waterfront view and is located next to one of the largest financial hub of the world. The new regulation now has ADGM having jurisdiction over Al Reem Island; thus, companies and investors, among other aspects, receive English common law, progressive regulations, and a friendly business climate.
MERED has chosen the right time to investing in Abu Dhabi because the high end apartment prices in this city has increase by 6% in the first half of the year of 2024. Mered’s CEO Diana Nilipovscaia continued that the deal is in harmony with the company’s strategy of providing unique and environmentally friendly buildings like the ICONIC Tower in Dubai Internet City. She reported that FDI has risen to 225% and this she said signals confidence among investors to invest on Al Reem Island hence the best time to open more outlets.
At the moment in the conception stage, the next project of MERED will consist of private & business quarters built with the innovative architecture and sophisticated connecting systems accompanied by fabulous services. The development will also grant an opportunity to access important historic sites including Reem Central Park, Louvre Museum in Abu Dhabi, and the Abu Dhabi International Airport.
This is the first waterfront project of MERED in Abu Dhabi and contributes to its collection of many large scale projects for the company to further cement its hold in the stiff real estate market of UAE.
