UAE: Aldar to develop $68m park on Reem Island
The 9.29ha public park is due for completion in 2018 and will feature a mosque, food and beverage shops, a retail centre, a skate park, and interactive water features
Aldar Properties PJSC has announced plans to develop a 9.29ha public park on Reem Island.
Called Reem Central Park, the planned development is projected to cost around $68m (AED250m), with a target completion date of 2018.
According to the Abu Dhabi-based property development, investment, and management company, the park will consist of a mosque with a reflective pool, food and beverage shops, a retail centre, a skate park, play areas, and interactive water features.
The company further noted that to support Emirati entrepreneurship, a dedicated space will be allocated to local businesses.
HE Mohamed Khalifa Al Mubarak, chief executive officer of Aldar, commented: “We are proud to launch Reem Central Park, and create a space that will benefit so many of Abu Dhabi’s residents and visitors upon its completion next year.
“This park fits well within our strategy to create dynamic, amenity-driven lifestyle destinations across our land bank in Abu Dhabi.”
The park will be built on tiered levels to create a natural progression from high to low, and will feature attractions and amenities, including a 4km promenade, that lead down to a natural waterfront.
Aldar recently launched The Bridges, a $350m (AED1.3bn) mid-market development on Reem Island. It comprises six towers and 1,272 units, with sales having commenced at the opening of Cityscape Abu Dhabi on 18 April, 2017.
Aldar’s master-planned community on Reem Island is already home to the Sun & Sky Tower, and the Gate & Arc Towers, among other developments. It is also the location of Aldar’s first mid-market project, Meera, which was launched in June 2015 and is over 90% sold, with construction ongoing.