Abu Dhabi – Mubasher: Abu Dhabi’s Department of Municipal Affairs (DMA) revealed that it has signed an AED 15 billion contract with Imkan Properties, a subsidiary of private equity investor Abu Dhabi Capital Group, and First Abu Dhabi Bank (FAB) to develop “Riviera of the Emirates”.
Riviera of the Emirates or Sahel Al Emarat will be spread over an area of 370 hectares in Abu Dhabi’s Ghantoot nature reserve, close to the Dubai border.
The project is located on a stretch of coastline between the UAE’s capital and Dubai.
The project’s first phase, which is called “Al Jurf Gardens”, is expected to be completed by 2021 with a total cost of AED 2 billion.
The other two phases include “Jiwar Al Qasr”, a museum created from the refurbishment of an existing palace on the site, and “Marsa Al Jurf”, a marina, canal, more residences and leisure facilities in phase three.
Moreover, the project is designed by the British architect Thomas Heatherwick, founder of London-based Heatherwick Studio, which is designing Singapore’s Changi Airport expansion.
