DAMAC Completes Abu Dhabi Mixed-Use Development

By Eliza Theiss, Associate Editor

Leading Middle Eastern luxury developer DAMAC Properties has announced the completion its first Abu Dhabi development: the mixed-use luxury property Marina Bay.

Located on the highly desirable Al Reem Island, 24-story Marina Bay is a high-end mixed-use waterfront development that combines luxury living with luxury retail and commercial space. The latter are located on the ground floor and mezzanine level, the further space is taken up by the residential component. The residential element contains one, two and three-bedroom apartments.

“Marina Bay is a hugely anticipated project and we feel sure customers will be delighted with the high quality finish and refined luxury they have come to expect from DAMAC Properties,” said  Niall McLoughlin, senior VP of DAMAC Properties in a statement.

Among the finishing touches and high-end amenities, McLoughlin makes references to a temperature-controlled swimming pool overlooking the waterfront, a state-of-the-art fitness room and day spa complete with sauna and steam room, as well as massage facilities. A children’s playroom has also been included. Ground and mezzanine level retail is completed by an array of cafes and restaurants serving international cuisine.

“The current market situation creates an outstanding medium to long-term strategy for investors. We have been delighted with the response and there remain just a few units left at Marina Bay, highlighting the demand for high quality luxury apartments and commercial locations in Abu Dhabi,” Niall McLoughlin added, noting “this is another big milestone for DAMAC Properties. Completing our first project in Abu Dhabi is a big step for the company as we continue to expand our portfolio of completed projects across the GCC.”

DAMAC Properties is currently developing.  Burjside Boulevard, the luxury hotel apartments in the Burj Area of Dubai, set to complete by first quarter 2013, as well as DAMAC Tower in Beirut, Lebanon. The Residences at Business Central in Dubai and the show homes at t Al Jawharah in Jeddah, Kingdom of Saudi Arabia have recently finished. Several other projects have also finished or are under development across the Middle East, in locations such as Abu Dhabi, Dubai, Qatar, Egypt, the Kingdom of Saudi Arabia and Jordan.

Established in 2002, DAMAC Properties is part of Damac Holdings