Abu Dhabi, 2/14/2017 12:00:00 AM - Abu Dhabi, February 14, 2017 – The Tourism Development & Investment Company (TDIC), master developer of major tourism, cultural and residential destinations in Abu Dhabi, announced today that construction of the luxurious Mamsha Al Saadiyat, on the Saadiyat Cultural District, is well underway, with the development works completion of 21.9%.
The project was awarded to a joint venture between San Jose Contracting and Pivot Engineering & General Contracting back in April 2016, following a competitive tendering process. The contract is valued at AED 1.25 billion.
Mr. Sufian H. Al Marzooqi, TDIC’s Chief Executive Officer, said: “It is inspiring to witness the rapid development works of Mamsha Al Saadiyat, being executed in line with the pre-set schedule and a completion date set for completion during the second half of 2018.”
“Mamsha Al Saadiyat enjoys a strategic location with unparalleled views to the Saadiyat Cultural District, a key attraction for investors looking to own unique residential units in the Capital,” he continued.
The construction progressed with completion of basement and podium, and has reached the upper floors in the buildings. The Tourism Development & Investment Company (TDIC) is monitoring and supervising all the developmental phases "Mamsha Al Saadiyat" to ensure timely execution.
Amna Alalkeem Al Zaabi, "Mamsha Al Saadiyat" Project Manager at TDIC, said: “We are working closely with our contractors to ensure work completion in line with the highest standards and according to the pre-set set. “Mamsha Al Saadiyat” enjoys unique luxurious picturesque views, overlooking the seashore and a close proximity to the Cultural District Museums, which differentiates it from any other residential projects in the region. It's a unique and promising investment opportunity, and we are anticipating strong interest from the local and international investors.”
Mamsha Al Saadiyat is a beachfront mixed-use project, incorporates nine low-rise residential buildings with a total number of 461 units, ranging from one to four medium sized bedroom apartments, between 110 sq. m to 450 sq. m. The project also offers unique loft apartments with uninterrupted sea views. Nine penthouse units of 5 bedrooms with an average size of 1050 sq. m, feature a private swimming pool and a terrace.
The project offer residents a luxurious beach-inspired lifestyle with close proximity to a wide range of leisure and retail offerings. “Mamsha Al Saadiyat” is connected to a 1.4 km promenade with dedicated walking and cycling paths, direct access to the beach, children’s playgrounds, and dedicated parking for both residents and visitors.
Mamsha Al Saadiyat is located at the heart of Saadiyat Cultural District, a cultural hub with renowned international cultural organizations including Zayed National Museum, Louvre Abu Dhabi and Guggenheim Abu Dhabi.
Saadiyat Island has become home to world-class developments such as The St. Regis Saadiyat Island Resort & Spa, The Collection, the Saadiyat Beach Golf Club, Saadiyat Beach Club in addition to other projects under developments. Residents of the island conveniently live in close proximity to close to high-quality educational institutions including Cranleigh Abu Dhabi, the New York University Abu Dhabi campus, in addition to Manarat Al Saadiyat, the leading arts and exhibition center in the Cultural District.