 Al Reem Island (Arabic: جزيرة الريم) is a residential, commercial and business project on Al Reem Isle, a natural island 600 meters off the coast of Abu Dhabi island. It is currently being developed separately by Sorouh (Shams Abu Dhabi), Reem Investments, and Tamouh. Reem Developers quote the overall dimensions of the project as 6.5 million square meters and investment costs as exceeding $30 billion. The project has gained international interest as one of the first free zones in Abu Dhabi, where foreign nationalities can buy property as leasehold. In total, at least 22,000 residential units are planned (figures do vary significantly between different sources) with the first buildings to be completed by 2009, in Marina Square.
Al Reem Island, previously referred to as 'Abu Al Shuoom', 'The Pearl' and 'Emirates Pearl Island', is a residential, commercial and business project to be built on the natural island of Al Reem Isle, located off the northeastern coast of Abu Dhabi city. The development will be connected to the Abu Dhabi city island by 2 or 3 bridges and be located 20 minutes from the Abu Dhabi International Airport.
Al Reem Island will cover an area of 633 hectares (68 million square
feet) and is being built by 3 developers - Tamouh Investments owns 60%,
Sorouh owns 20% and Al Reem Investments owns the remaining 20%. The
development will be overseen by an independent third-party facilities
management company known as Bayt Al Khidma, who will ensure all three
Reem Island developers meet the high standards of construction. The
island is estimated to accommodate 280 thousands residents and will
include important amenities like schools, medical clinics, shopping
malls, restaurants, a 27-hole golf course, hotels, resorts, spas,
gardens, and beaches. Property available on Al Reem Island will be on a
extendable 99-year leasehold basis.
Pearl of the Emirates - Name of Tamouh Investments' 60% of Al Reem Island, whose first phase is estimated at AED 2 billion (US$ 545 million) which includes 15 towers and a 5-star hotel.
Al Shams Abu Dhabi (The Sun of Abu Dhabi) - Residential development by Sorouh covering 14.2 million square feet (1.32 million square meters) to be completed by 2011.
Najmat Abu Dhabi (The Star of Abu Dhabi) - AED 30 billion (US$ 8 billion) urban waterside community development by Al Reem Investments covering 20 million square feet (1.86 million square meters) to accommodate 80 thousand to be completed by 2012.
Marina Square
- Covers 13.2 million square feet (1.2 million square meters) of Pearl
of the Emirates, with 70% residential and 30% commercial districts
expected to be complete by 2009. It will contain a collection of 14
high-rise waterfront towers including Marina Heights 1 and 2 by Profile
Group Properties, 49-floored Tala Tower by Sorouh Real Estate, and
43-storeyed Ocean Terrace Residence by First Gulf Bank (FGB).
Addax Port
- AED 6.5 billion development on the Pearl of the Emirates with 5
towers (Office Tower, Park Tower, Marina Tower, Executive Tower, and
Light Tower), 4 of which are residential and 1 will be commercial.
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