(MENAFN- Emirates News Agency (WAM))
ABU DHABI, 1st March, 2018 (WAM) -- Al Fahid Property Development has announced that it will commence the launch of sales of phase one of its Al Marsa project on Saturday,3rd March, 2018.
With a planned 301 villas and nine apartment buildings, the first phase is due to be completed in the third quarter of 2023.
The development is located next to Yas Island, on the Sheikh Khalifa Highway. Once completed, the entire five-phase, 3.2 million-square-metre project will have the capacity to accommodate more than 11,000 residents, with Al Marsa accounting for nearly half approximately 4,600.
According to Saeed Eid Al Ghafli, Chairman of Al Fahid Property Development, said, "the Al Fahid development will go a long way in attracting investments to the UAE capital...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, while boosting happiness levels among the community."
Set to span 1.1 million square metres, Al Marsa is scheduled for handover in two stages. The 464,000-square-metre stage one will feature 301 villas, ranging from 4,600 to 17,000 square feet and comprising four- to seven- bedroom units.
Stage two of Al Marsa will include nine apartment buildings overlooking the marina, with five towers in the middle, flanked by two on each side. The buildings will have a 671 one- to four-bedroom apartments, including 15 townhouses. In addition to more than 85 berths, a marina will have 88,000 square feet of retail and food and beverage space.
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