Developer BID has high hopes for Cityscape
Flats due for completion in 2012 on sale at Cityscape
Luxury off-plan flats at Bawabat Al Sharq in Abu Dhabi will be on offerat this week's Cityscape.
Developer Baniyas Investment and Development Company (BID) are putting 500 apartments in phase two of their Abu Dhabi development on the market, a mixture of one, two and three bedroom apartments and penthouses, scheduled to be completed in 2012.
Wael Tawil, CEO of BID, said that developers in Abu Dhabi were upbeat about the outlook for 2010 in the face of a strong economic outlook in the emirate.
“The Abu Dhabi economy has witnessed positive changes that had a valuable impact on end users in the real estate sector and hence developers have responded effectively to those changes," he said.
Wael El Ashry, BID's commercial vice president, added that Cityscape would provide an excellent platform for developers to take advantage of market confidence in Abu Dhabi.
“Like every year, Cityscape will witness an influx of investors and end users, all of whom are searching for property. Cityscape enables developers to provide their customers with special promotions as well as different financing options to choose from”.
Despite their predictions, BID are seeking to sweeten the deal for potential buyers in Abu Dhabi by offering free furniture or televisions to those who sign up to buy at Cityscape.
Bawabat Al Sharq is a mixed-use development which will eventually consist of retail outlets, schools and sport sand recreation centers. The construction on phase two has not yet begun, but BID expects it to start in the coming months. The entire project, including the apartments and villas on offer at Cityscape, are scheduled for hand over in the third quarter of 2012.