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Burooj Properties has announced that construction work on its US $136 million (AED500 million) Al Gurm Gardens villa project on Al Reem Island has finished, only seven months after contractors began onsite in January this year.
Finishing work is now taking place on the 80-villa project, and Burooj has confirmed that it will be handed over by the end of this year.
"The achievement at Al Gurm Gardens is proof that risks can be avoided by adopting appropriate planning, whatever the market conditions are. We believe that a number of factors must be considered before investment is injected into any region of the world,” said Adel Ahmed Al Zarouni, managing director of Burooj Properties.
“The most important factor is the investment location. We have selected Abu Dhabi, as the UAE's capital has become a destination of choice for real estate investment due to the visionary urban development plans adopted by the government. This policy ensures a sustainable market growth and balance on a long term basis.
"The post crisis property market is far different from that of the pre-crisis period, as the current focus of the developer is the end user, who, in turn, seeks a safe, healthy and environmentally friendly home alongside innovative design and architecture. We have pledged to meet all of these requirements in our project," Al Zarouni added.
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