UAE: Second 10ha residences likely for Masdar City
The 5.7ha first phase of the master-development's residences is progressing as scheduled, with tenders for additional homes and student accommodation due in 2016
The 5.7ha (57,000 sqm) residential development underway at Masdar City is on track for completion within 18 to 24 months, an official from the master-development confirmed.
Chris Chi Lon Wan, Masdar City’s design manager, told The National that contractor Brookfield Multiplex is working on the project, which will bring up to 3,000 residents to the site.
“Masdar City is extremely busy at the moment,” he said.
Tenders to build a second phase of the residences, with two blocks of student accommodation comprising up to 200 rooms, are due to be issued in the first quarter of 2016.
An L-shaped office building, spanning 10,000 sqm for use by either a single occupier or numerous tenants, is also at the detailed design stage.
Masdar City director, Anthony Mallows, said: “All of the buildings we have to date are fully tenanted and occupied, so there’s no vacancies, and we are already feeling the pinch in terms of the need to build aggressively to accommodate demand."
He added that the new residential accommodation was likely to comprise 10ha (100,000 sqm) of buildings, the report said.
The new facilities are being self-developed, but according to Mallows, agreements are likely with third-party developers for more residences, serviced apartments, and hotels.