Gulf Construction Online - $1bn luxury complex to rise on Al Maryah Island

UAE Focus

Officials at the Maryah Plaza ground breaking ceremony.

$1bn luxury complex to rise on Al Maryah Island

01 August 2013

MUBADALA Real Estate and Infrastructure (MREI) and Taiwanese property developer Farglory Group have broken ground on the $1-billion Maryah Plaza, a four-tower luxury waterfront complex on Al Maryah Island in Abu Dhabi – marking the first development on the island by a foreign direct investor.

The towers will be developed in phases and, when complete in 2020, will have a combined gross floor area of 153,000 sq m. Set to welcome its first tenants in 2016, the complex will provide approximately 500 premium residences in the hub of Abu Dhabi’s new Central Business District (CBD), further extending the offering of Al Maryah Island to local residents and tourists.

Situated in close proximity to Sowwah Square, Maryah Plaza will offer convenient access to the district’s four Grade ‘A’ commercial towers, luxury retail and dining destination – with The Galleria due to open this month – and the five-star Rosewood Abu Dhabi, and the five-star Four Seasons Hotel Abu Dhabi, work on which is scheduled for completion by 2015-end.

Being built in accordance with Estidama Pearl One rating, the project will also be connected by climate-controlled pedestrian passageways to Sowwah Central, a world-class regional retail destination due for completion in 2016 and Cleveland Clinic Abu Dhabi.

With residences ranging from one-bedroom apartments to penthouses, the development will offer beautifully landscaped parks and open spaces, art galleries, community centres, and a wide arrange of street cafes and restaurants.

Designed by the renowned Rogers Stirk Harbour + Partners, which has attained awards for projects across Europe, North America and Asia, including two Riba Stirling prizes, Maryah Plaza has been conceived to complement the waterfront view and the natural environmental characteristics of Abu Dhabi, using building design to represent and symbolise sailing, cruises and decks.

“We are delighted to collaborate with the Farglory Group on the creation of a vibrant new neighbourhood that will be a further catalyst to the development of Al Maryah Island and the vision of Abu Dhabi’s Central Business District,” commented Ali Eid Al Mheiri, director of Mubadala Real Estate and Infrastructure. “The ground-breaking of Maryah Plaza firmly establishes the local and international character that helps define Al Maryah Island’s unique identity and supports its recognition as one of the world’s leading CBDs – truly in the heart of Abu Dhabi.”

Teng-Hsiung Chao, chairman of Farglory Group, said: “Al Maryah Island is a truly visionary mixed-use district and we are proud to have the opportunity to contribute to Mubadala’s vision for this development. Coupled with Farglory’s 44 years of real estate development experience, Maryah Plaza will raise the bar for luxury residential developments by combining the renowned design expertise of Rogers Stirk Harbour + Partners, resort-style amenities and carefully designed community spaces to create an outstanding living experience.”

Farglory’s investment on Al Maryah Island is the company’s first expansion into the Middle East and North Africa (Mena) region and is a strong testament to the growing prominence of Abu Dhabi in the region’s economic landscape.