Phase 1 of Al Reef 2 project in Abu Dhabi now 70% compelete
Located in Al Samha, Al Reef 2 comprises 860 duplex villas spread across four residential neighbourhoods
Manazel Real Estate PJSC has announced that the first phase of its Al Reef 2 development in Abu Dhabi is nearing completion.
The UAE developer revealed in a statement that construction on Phase 1 of the project is now 70%, with completed villas scheduled to be handed over at the end of this year.
According to Manazel, the concrete skeleton of all villas has been built, and the project has been registered with the Abu Dhabi City Municipality (ADM).
Located in Al Samha, the project commenced construction last year. It comprises 860 duplex villas spread across four residential neighbourhoods with a central hub offering community facilities, such schools, retail outlets, clinics, and public parks. The schools will be able to accommodate approximately 1,500 students, while the retail area will host around 30 shops.
HE Mohamed M Al Qubaisi, chairman of Manazel, said: “Over the past year, we have been focussed on accelerating construction on Al Reef 2 in order to deliver the project to our investors in a timely manner.
“With development of the first phase of the project being finalised, we will hand over the first phase of villas by the end of 2017. This follows on from the success of Al Reef 1, which now houses 17,000 residents.”
He added: “Al Reef 2 has been very popular among property investors with 95% of all units now sold. This has been driven by our successful strategy to build residential developments for the middle income segment.
“The project is also differentiated by its excellent connectivity between Abu Dhabi, Dubai, and the rest of the UAE, and easy access to key landmarks, such as Yas Island, Dubai Parks & Resorts, Abu Dhabi International Airport, and Al Maktoum Airport.”