The combined plots, spanning over 23,433 sqm, are located on Al Reem Island, an integral part of the Abu Dhabi Global Market (ADGM) and renowned for its breathtaking waterfront views. 

 

As one of the world’s largest financial districts following its recent expansion, ADGM’s jurisdiction now encompasses Al Reem Island, bringing significant opportunities for businesses operating in a globally recognized financial ecosystem. 

 

This expansion further enhances the area’s appeal, offering access to ADGM’s benefits such as English common law, progressive regulations, and a business-friendly environment.

 

This acquisition highlights Mered's continued success and strategic growth, delivering state-of-the-art residential and commercial developments across the capital city, it stated.

 

Mered is leveraging the 6% price increase seen in the city's high-end apartment market during the first half of 2024, said its top official. 

 

"The Abu Dhabi real estate market continues to show strong performance, with high demand for upscale residential properties and 225% increase in foreign direct investment. Inspired by the success of our Iconic Tower in Dubai Internet City, we are eager to introduce the same level of innovation and sustainability in the capital city," remarked its CEO Diana Nilipovscaia.

 

"Our team’s meticulous research revealed that the time is ripe as investors’ confidence in Al Reem Island has surged in H1 of 2024. This acquisition aligns with our vision to develop exceptional properties that elevate cityscapes and enrich lifestyles in the country’s most prime locations," she stated.

 

According to her, Mered’s upcoming development on the plots will include a combination of residential and commercial spaces designed by world-renowned architects. 

 

Currently in the schematic design phase, the project will feature modern architecture, cutting-edge infrastructure, and world-class amenities, offering a unique living experience that reflects Mered's commitment to redefining real estate with timeless masterpieces, she added.

 

Nilipovscaia said this marks Mered’s first waterfront development in Abu Dhabi, adding to its growing portfolio of high-profile projects. 

 

The island is just five minutes from Reem Central Park, 10 minutes from the main thoroughfare Sheikh Zayed Bin Sultan Road, and 15 minutes from cultural landmarks such as the Louvre Abu Dhabi and Saadiyat Marina. 

 

Additionally, Abu Dhabi International Airport is only 30 minutes away, enhancing the development’s appeal as a premium investment opportunity.-TradeArabia News Service