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 Abu Dhabi is surrounded by over 200 islands. Many are being built upon and included in the capital’s ever growing and impressive 2030 vision. With the likes of Saadiyat and
Yas Island being developed to house year round entertainment and world-class facilities, the latest area which has long waited to join the limelight is Reem Island
Over the last few years Reem Island, situated just 300 metres from the mainland (opposite Abu Dhabi Mall), has been transformed from 6.5 million sq metres of sand, to a vast residential, commercial and leisure destination. As keys are exchanged and the island’s first phase comes to life within the next few months, Abu Dhabi Week explores the buildings and blueprints of Reem Island to find out just what it has to offer – both now and in the future.
Like many of the UAE’s projects, with the real estate boom – and then the global recession – Reem Island has received plenty of mixed press. But for such a large project, Reem Island, aside from the rising towers on the city horizon, has come quietly into its own.
The island, which is hoped to house over 250,000 people when complete, is organised between three Master Developers: Tamouh, Sorouh and Al Reem Investments. And investment is the key word. Like any major development project, what first attracted attention to Reem Island was the opportunity for financial gain. The island project first got underway in 2006 – at a time when the property boom was still riding high. Two year later however, the market had significantly changed – and the world was greeted by the recession.
But the island didn’t sink under financial gloom, as LLJ properties, an Abu Dhabi real estate group and Reem Island investor is quick to point out.
“The global recession did of course have an impact – and prices did drop. But Reem Island has come out of it well. What we’re seeing more often now is a buyer who wants to buy to live in the property – rather than purchase to sell on quickly and make some fast money,” says Andrew Covill, head of investment sales at LLJ Properties.
“Reem Island is proving ever popular and people are now buying homes as opposed to just straight investment. Purchase costs are favourable compared to renting and an investment, not just dead money. Quality of property and facilities and lifestyle are key drivers and with purchase prices still keen we are seeing an upswing in demand just before completion.
“I still think people do not understand how nice it is going to be compared to existing housing options and for that reason in particular we expect a rise in prices at and post completion.”
The general message from investors is positive – and there’s a real sense of excitement surrounding the project – especially as Marina Square, the first phase of the island, nears completion and investors see the results.
Profile Group Properties LLC is an Abu Dhabi-based real estate developer and the first to offer home ownership to all nationalities on Reem. Profile’s initial projects, 'The Marina Heights', will be some of the very first properties ready for occupancy on Reem Island.
“The first of our towers, Marina Heights, were launched approximately four years ago, followed by our second in 2007. To see it arrive at this stage is extremely exciting – and a great milestone for Abu Dhabi,” says Guy Alan Sadler, the chief executive officer of Profile Group Properties.
“Back in 2006 we used to take people out on boats around the island at a time when it was just sand. I would try and visualise it but I couldn’t grasp the sheer scale of it. When you look at it now it’s pretty amazing.”
“Reem Island is a very positive story – especially on the backdrop of a global recession; there are still multi-billion dirham developments being delivered. OK, there have been some delays – but on a project of this size and complexity this could have been the case anywhere in the world and at any time.”
While Marina Square is considered to be 'plot one, phase one' of Reem Island it is just one of the many projects which will fill the landscape in coming years including Sorouh's Sky and Sun Tower – also nearing their completition – plus within the same district of 'Shams's Abu Dhabi' are such towers as Mangrove Place and The Gate. Tamouh is already actively developing their second and third phases of their master community on the island with their 'City of Lights' district and 'CBD', with enabling works also occuring in Reem Investments 'Najmat' district. Alongside the 13 residential towers, Marina Square will also be home to a five-star luxury hotel, a marina capable of housing yachts up to 40 metres in length, a mall filled with high-end boutique stores, a supermarket and much more.
But aside from the usual lifestyle must-haves including retail stores, an eight-screen cinema complex, swimming pools, gymnasiums, private beaches and golf courses alongside medical clinics, parks, mosques and schools – all of which will be available on the island in coming years – one of Reem Island’s (and Marina Square’s) main selling points will be the food and beverage choices.
“Within the mall, food and beverage is a really strong focus. A number of fine dining establishments will sit around the marina – all offering a waterside dining experience,” says Sadler.
"Once the doors open and people start coming in, I think there’s going to be a lot of surprise and interest. The apartments are only a small part of the overall experience – there’s so much more.
“The jewel in the crown of Marina Square will definitely be the mall. There will be over a hundred stores offering high-end retail brands; many of which have never been in Abu Dhabi before. It’s going to be exciting – and a new shopping experience.There will also be many food concept stores – again new to the UAE."
Offering new food, beverage and retail experiences will certainly draw visitors and residents alike to visit the island. Which brings in another important necessity to make the island successful: accessibility. But according to Profile Group, that’s already been worked out.
“The full potential of Reem Island feels like a little bit like a secret right now, but that will soon change when people start visiting and living on the island. The initial traffic infrastructure is already in place to make access on and off the island comfortable. There will be a network of bridges linking Reem Island with mainland Abu Dhabi and the surrounding areas. Sowwah island lies just adjacent to Reem, and is intended to become the capital's new financial district and the new home of the Abu Dhabi Securities Exchange. The intention is that the population will be able to easily move between the existing downtown area and the islands of Reem, Sowwah and Saadiyat to provide a seamless transition between their home and working lives.
Saadiyat Island is just beyond Reem and will offer a mix of cultural, residential and business districts all within close proximity. Metro stops have already been devised across all areas and other transport options such as water taxis will also aid the movement of people and offer a new experience for the city.
“There’s been a lot of planning concerning the transportation infrastructure. Roads and bridges have all been integrated in to the Salam Street regeneration project.”
Parking, which is known to be somewhat of a problem on the mainland with a shortage of space, has also been carefully considered.
“All apartments come with their own dedicated parking facilities. The mall also has its own parking, ensuring plenty of room for visitors and residents alike.”
So what’s next for the island? There’s certainly plenty more planned, with Marina Square being just a small segment of the overall picture.
“It’s very typical of Abu Dhabi,”
says Sadler. “Rather than shouting about it from the rooftops, it's more a matter of just getting on and doing it. There are multiple future phases to be developed on the islands – all working towards the capital’s 2030 vision.
“We expect the first buildings in Marina Square to begin handover during the second quarter of this year - that will mean keys physically going into people's hands, with moving in then likely to continue for a number of months before the retail areas begin opening their doors around the end of the year."
And there are high hopes for the future of Reem Island – as well as the effect it will have on the mainland.
“Reem Island is without a doubt a premiere location – certainly in terms of where to live. Some of the best facilities and establishments will be available. The likes of the Universite Paris Sorbonne has already relocated its campus to Reem Island.
“If everything continues to plan, which we strongly think it will, Reem Island will become the key destination for Abu Dhabi. We believe it will provide the capacity for the existing downtown area of Abu Dhabi to be regenerated – older buildings removed or renovated to deliver new structures fitting for this city, with lower density areas and some wonderful new facilities and zones within the city."
However the future pans out for the mainland, Reem Island is certainly looking strong.
“In five years’ time Reem Island will certainly be the catchment area of downtown Abu Dhabi and the place
to be.”
Charlie Kennedy
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