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Branded residences: Dubai’s fast growing asset class
The Mandarin Oriental Hotel on Saadiyat Island, due to be opened in 2013, will also include 180 branded residences. Aldar’s Gurm Resort (72 rooms), Four Seasons Saadiyat (125 rooms), MGM Hotel Residences (500 rooms) and St Regis Saadiyat (280 rooms) are other projects which will include hotel branded residences.
Bauer completes piling for Louvre Abu Dhabi
The company has been working on the site of the Saadiyat Island Cultural District since March to place 4,536 pilings, around 100 kilometres of steel and reinforced concrete pile sections, according to the Tourism Development & Investment Company, the state-backed master development in charge of a number of big projects in the emirate.
TDIC, Abu Dhabi Islamic Bank sign home financing deal
Tourism Development & Investment Co, a state-owned developer of hotels in Abu Dhabi, signed an agreement with Abu Dhabi Islamic Bank to provide home financing on Abu Dhabi’s Saadiyat Island. TDIC has signed mortgage agreements with numerous banks including Standard Chartered, Abu Dhabi Commercial Bank and National Bank of Abu Dhabi.
TDIC Home Finance offerings expand with ADIB
TDIC and ADIB are offering a unique home finance package for potential Saadiyat Island residents, which includes finance of up to 85% and competitive profit rates starting from 6.0%. The package offers tenures of up to 25 years without processing or any other fees and deferment of up to 10% of the down payment to near handover date. This Islamic home finance will supplement the existing home finance agreements already facilitated on the island.
Abu Dhabi reports 29% increase in Saudi tourists
Abu Dhabi’s leisure offering has been boosted this year by the opening of two 18-hole championship-ready golf courses. The Saadiyat Beach Golf Club, on the signature Saadiyat Island, is the Arabian Gulf’s only “ocean” course, designed by Gary Player. Yas Links, on Yas Island was designed by Kyle Phillips and has eight holes running along the coastline with all 18 holes having fabulous Arabian Gulf views.
Abu Dhabi aims for ‘seven wonders of nature’ rating
Abu Dhabi’s Tourism Development and Investment Company (TDIC) is throwing its weight behind the campaign for the Bu Tinah Island to become one of the “seven wonders of nature”. The move comes as it tries to fend off competition from global attractions such as the Dead Sea, the Grand Canyon and the Great Barrier Reef.
Aecom Buys Tishman Construction
The companies have overseen some of the world’s largest complex construction projects. Los Angeles-based Aecom is currently working on New York City’s new Second Avenue subway and Saadiyat Island, a $30 billion development off the coast of Abu Dhabi.
The life of Riley
That project is one year away — the reason for that delay is not only constructional, it’s also management. We made a decision and that decision is the right one I’m sure. So that set us back a bit, but what’s interesting about that is we were the first into Saadiyat Island.
