|
|
|
Singh commented that Sorouh “is focused on delivery over the next two years,” despite a challenging real-estate market that, however, showed positive signs as “prices have reached bottom. There is a lot more to be done, but the current situation does reflect positively on the market.”
He explained it was essential to look at Shams Abu Dhabi from an economic, commercial and development point of view, as it “is located strategically to the catchment area of the entire Abu Dhabi island.” In terms of linkages to the mainland, the new Salam Street arterial link and Sowwah Island road links were important developments.
“Shams Abu Dhabi will be home to 45,000 residents in future. It is adjacent to the new Central Business District on Sowwah Island. It features projects such as the Shams Marina, Shams Park and Shams Gate, which includes Sun and Sky Towers, and The Arc,” explained Singh.
 |
“The Gate, the three towers that form part of Shams Gate, are advancing rapidly. At present, structural work is being carried out on the last two levels, which will then house the penthouse structure. Construction of the smaller fourth tower, The Arc, has topped out at Level 23.”
Singh said that the 177ha Shams Abu Dhabi was a critical “placeholder” development on Reem Island. “We have spent nearly $435m completing the basic infrastructure for the entire Shams Abu Dhabi development.
This covers roads, streetlighting, power and water, gas, district cooling and telecoms – all of this has been laid in. What this means basically is that all sub-developers are part of a ‘plug-and-play’ scenario. Over 100 plots have been sold to sub-developers.
The infrastructure programme for the development has been completed, enabling sub-developers to build and deliver properties to their customers,” said Singh. “At least ten developers have commenced projects within Shams Abu Dhabi, and within the next six to 12 months we will see completion of at least five developments.”
The fact that Sun and Sky Towers had been completed successfully was critical for Reem Island and Abu Dhabi itself, said Singh. Sorouh MD Abubaker Seddiq Al Khouri said that the combination of a shortage of accommodation in the capital, together with the large number of older buildings with insufficient infrastructure, made Shams Abu Dhabi an especially attractive option, given the connectivity and completion of infrastructure.
“We started the project in late 2006 and completed it in 2011. It was quite good progress we made throughout. It is a sizeable mixed-use development, comprising two residential towers interlaced with 30-odd floors of commercial office property.
At the base it is anchored by a well-appointed retail centre – this retail is more in tune with community shopping for the residents of Sun and Sky Towers.
“In total we have about 1,150 units. Close to 600 families have already moved in gradually over the last six months; over the next two quarters the balance will largely be taken up. In terms of the office space, 30% is already at various stages of fit-out.
By the middle of next year, I think you will see the bulk of the office tenancy taken up. This bodes very well for the entire development,” said Singh.
Both towers are well-served in terms of parking, with 3,500 spaces in a couple of basements, and also at the podium level.
“It is very well structured. From a strata perspective, we have compartmentalised it, carried out all the subdivisions for the properties, and taken the positive step of forming an owners’ association and having held strata ownership and management sessions. This means we are progressing with what is ultimately a community-planned development.”
Singh added: “All in all we have a well-managed and appointed development within Shams Abu Dhabi and the larger Reem Island development. We are the first to deliver and set up an owners’ association. We want to make sure that the game-changing capability of Sorouh is taken forward into the future.”
Commenting on the construction challenges of the project, Singh said: “When started, it was bare land, for which we had to carry out reclamation, which consisted of land formation and demarcation for the various developments, and then subdivision and the associated infrastructure works.
Being an island, we had to take into account the various linkages as well with the mainland to bring in materials and labour. All that came together, as we managed to liaise very well with our main contractors.
We were quite focused on our infrastructure, which was developed at a rapid pace, and is now 100% complete, up to a ‘plug-and-play’ stage for sub-developers to come in and develop projects in Shams Abu Dhabi.
“The challenge was getting the property into the hands of the owners, and for end users to move into a well-managed development. The overall property management will be carried out by one of our subsidiaries, Khidmah, a very efficient and professional project management company.
The owners’ association will ultimately take over the management of the common property. It is a symbiotic relationship between us as a developer and the final end users,” said Singh.
“From the time we started with the infrastructure to delivering our first completed development, it has been quite evolutionary, in that we were bringing infrastructure in to where none had existed before, adding and creating value. Having people living there now is the pinnacle of our achievement.”
The focus from this point on is The Gate, which is scheduled for completion by the end of 2012. Then the whole puzzle will be complete,” concluded Singh.
| Articles | |
| Companies | |
 |
Site Map
 |
 |
 |
 |
|  |
\
FEATURED COMMENT
Please click here to comment on this article