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Al Forsan Real Estate leases 95% of Abu Dhabi accommodation villas

Al Forsan Real Estate (AFRE), the property arm of Al Forsan Holding, has leased out 95% of its fully-furnished employee accommodation villas

AFRE fully-furnished employee accommodation villas.
AFRE fully-furnished employee accommodation villas.

Al Forsan Real Estate (AFRE), the property arm of Al Forsan Holding, has leased out 95% of its fully-furnished employee accommodation villas.

Located within Al Forsan International Sports Resort in Abu Dhabi, the facility is comprised of six buildings with studio apartments, of which four are completely leased out. Only 158 more studio apartments in building’s 3 and 4 are available for leasing.

From 2018, the studio apartments will be leased at about $9,500 (AED35,000) per annum with electricity, water and air condition charges included.

AFRE developed the employee accommodation facility in a bid to fortify its position as a diversified development company, with 21 out of 22 villas leased out within a few months of its launch.

Aviation, hospitality and food service industry employees will take up residence in the employee accommodation facility. 

Rashed Al Qubaisi, general manager of Al Forsan Holding, said: “The employee accommodation project was entirely different from any of our previous developments.

“We sought out to provide safe, secure and hassle-free living environment to the employees of various organisations in and around the Khalifa City area and looking at our occupancy rates, we believe we have nearly accomplished what we were set out for.

“Among our residents, are present employees from the aviation and hospitality industry that includes restaurants and cafes.”

AFRE develops mixed-use communities that support active lifestyle through the integration of world class sporting facilities.

Al Forsan Village, located within Khalifa City 'A' area of Abu Dhabi, includes 440 units of one- to four-bedroom apartments spread across 241,985m2.

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Construction Week - Issue 734
Mar 21, 2019