- Broker Directory
- My Tools
- News & Advice
- Market Trends
- Other GN Sites
The Abu Dhabi Department of Economic Development (ADDED) announced the completion of phase one of the Mirfa City Waterfront project in the emirate’s Western Region more than eight months ahead of schedule.
Phase one comprises 126 residential units constructed on an area of 40,000 square metres, shopping centres and other facilities across an area of 5,000 square metres, and 10 beach-front villas.
Phases two and three of the project are currently under construction, and cover a total area of 27,000 square metres. The project is being developed by the National Transport and Contracting Company, with partners that include Al Mirfa Power Company and Abu Dhabi Transmission and Dispatch Company (Transco).
Khalifa Al Mansouri, ADDED’s undersecretary, said that more investments are needed in the Western Region’s real estate sector, which has significant opportunities and a high return rate.
In a statement on Monday, ADDED said the project can still attract investment opportunities into all economic areas in the Western Region. The development is part of Abu Dhabi’s Economic Vision 2030 to foster the sustainable economic development of the Western Region and promote investments there.
The statement also said the Mirfa City Waterfront project will constitute a major attraction in the region, and pave the way for other development projects throughout the city’s coastline.
Source: Staff Report, gulfnews.com