Abu Dhabi: Manazel Al Reef 2 Phase 1 nearing completion
Abu Dhabi-based developer, Manazel Real Estate, announced that the first phase of Al Reef 2 is nearing completion with completed villas scheduled to be handed over by the end of 2017.
95% of villas are now sold with the construction project now 70% complete. The project is located in Al Samha in Abu Dhabi with easy access to Dubai and the rest of the UAE.
The concrete skeleton of all villas are now built and the project has been registered with the Abu Dhabi City Municipality. The successful sales of Al Reef 2 have contributed significantly towards Manazels on-going profitable growth to date.
Al Reef 2, which started development in 2016, consists of 860 duplex villas across four residential neighbourhoods with a central hub, offering community facilities such schools that will accommodate approximately 1,500 students, retail outlets for shopping and dining, clinics and public parks. The retail area will host around 30 shops.
Manazel chairman, H.E Mohamed M. Al Qubaisi, said: Over the past year, we have been focused on accelerating construction on Al Reef 2 in order to deliver the project to our investors in a timely manner. With the development of the first phase of the project being finalised, we will hand over the first phase of villas by the end of 2017. This follows on from the success of Al Reef 1 which now houses 17,000 residents.
Al Reef 2 has been very popular amongst property investors with 95% of all units now sold. This has been driven by our successful strategy to build residential developments for the middle income segment. The project is also differentiated by its excellent connectivity between Abu Dhabi, Dubai and the rest of the UAE and easy access to key landmarks such as Yas Island, Dubai Parks & Resorts, Abu Dhabi International Airport and Al Maktoum Airport.