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Al Fahid to deliver Phase 1 of 320ha UAE waterfront project in 2023

Sales of Phase 1 of the Al Fahid waterfront residential development will commence on 3 March

Phase 1 of the five-phase project is scheduled to be handed over in Q3 2023 [image: Al Fahid].
Phase 1 of the five-phase project is scheduled to be handed over in Q3 2023 [image: Al Fahid].

Al Fahid Property Development has announced that it will commence sales of Phase 1 of its 320ha Al Fahid waterfront residential development on 3 March, 2018.

According to the developer, Phase 1 of the five-phase project is scheduled to be handed over in Q3 2023.

Called Al Marsa, the 110ha first phase will feature 301 villas and nine apartment buildings, and will be able to accommodate up to 4,600 residents upon completion.

READ: Dubizzle reveals Abu Dhabi real estate trends in 2017

In a statement, the developer revealed that Al Marsa will be delivered in two stages. The 46.4ha Stage 1 will feature 301 villas, comprising four- to seven-bedroom units, with sizes ranging from 427m2 to 1,579m2.

The villas will reportedly offer a choice of three views (canal, sea, and garden) and will include an option to incorporate a side yacht dock. Al Fahid noted that 80% of the villas will feature waterfront views.

Meanwhile, Stage 2 will include nine apartment buildings overlooking the marina. The buildings will comprise 671 one- to four-bedroom apartments, including 15 townhouses.

READ: UAE property market has slowed due to maturity

The marina will feature more than 85 berths, as well as 8,175m2 of retail and food and beverage (F&B) space.

HE Saeed Eid Al Ghafli, chairman of Al Fahid Property Development, commented: “The launch of sales reinforces our commitment to enhancing the city’s lifestyle offering.

“The project will support key drivers of the Abu Dhabi Economic Vision 2030, including the development of premium infrastructure assets, economic diversification, investment facilitation, and environmental sustainability.”

Galal Kulaib, CEO of Al Fahid Property Development, said: “Designed by an international consortium of architects, engineers, and consultants, the Al Fahid development will safeguard the sustainability of marine life, mangroves, and archaeological sites."

The project will contribute to creating around 1,500 job opportunities over the next three years, he added.

Located between Yas Island and Saadiyat Island, Al Fahid will be able to accommodate more than 11,000 residents.

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