Monday, February 18, 2008

Aldar, Investment Holdings, signs deal for Al Khubeira

Aldar Properties, the real estate developer, has announced their Dh.1.2bn joint venture with Investment Holdings, a local company, to develop 'Al Khubeira' at its Al Raha Beach development.

The deal will develop an area of about 50,000 square meters. The Al Khubeira development will include waterfront villas and residential towers, open to both nationals and expatriates. Being developed on a reclaimed land at the Al Raha Beach complex, it occupies an area of 6.8 million square meters, with a total built-up area of 12 million square meters.

Al-Kubeira, which is due for completion during the first quarter of 2011, will have a world-class interior design, including ceramic, stone, timber, finishes, providing natural setting for residents.
Al-Khubeira will be a gated community, with state-of-the-art video entry system, a concierge serve and CCTV security.

The Al Raha Beach development is a beachfront project that is currently under development in Abu Dhabi, along the Dubai-Abu Dhabi highway. This development with be a new city district, expected to serve as a new gateway to Abu Dhabi city, housing 120,000 people.

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