Developer Aldar on track with Reem Island projects

Abu Dhabi-based developer Aldar is on track with the construction of its residential and hospitality projects on Abu Dhabi’s Reem Island.

Vida Hotels and Resorts in Reem Island.
Vida Hotels and Resorts in Reem Island.

Abu Dhabi-based developer Aldar is on track with the construction of its residential and hospitality projects on Abu Dhabi’s Reem Island.  

Part of its hospitality portfolio, construction on the Vida Hotels and Resorts project, which will operate a 262-key hotel and 192 serviced apartments, is scheduled to start this year for completion in 2020.

These will be accompanied by Aldar’s 329 marina residences within the development, which will add to the 5,000 homes already within its leased residential portfolio.

Residential properties include The Bridges, mid-market homes featuring studios to three-bedroom apartments which will be completed by 2020.

Meera, Aldar’s first mid-market development on Reem Island, is making strong progress with the structure now at the 16th floor out of 26.

Mohamed Khalifa Al Mubarak, chief executive officer, Aldar Properties PJSC, said: “In addition to being incredibly attractive for owner occupiers, Reem Island continues to capture the attention of investor audiences, with well over 60% of the plots in our master plan currently in various stages of design and construction, and the balance earmarked for future development opportunities by us as well as third parties.”

Aldar recently flooded the Reem Island canal which flows through 35 plots within the Reem Island community.

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