Abu Dhabi's Tourism Development and Investment Company (TDIC) has announced that the construction of Mamsha Al Saadiyat, the first residential development within the Saadiyat Cultural District, is on track to be delivered in the second half of 2018.
The project, which was awarded in April to a joint venture between San Jose Contracting and Pivot Engineering and General Contracting, is a 1.4 kilometre beachfront mixed-use development which will feature nine low-rise residential buildings with a total number of 462 units.
The residential project also has nine five-bedroom penthouses which range from 1,055 to 1,099 square metres and each has a terrace with private swimming pool.
The project, which is being developed in phases, also encompasses a serviced apartment building and a beach retail destination offering approximately 5,000 square metres of leasable area, for both retail and dining outlets with access to a 1.4 km promenade.
Sufian H Al Marzooqi, TDIC’s CEO, said: "We are pleased to see that Mamsha Al Saadiyat, one of the most unique residential projects on Saadiyat, is progressing as per schedule.
"Given its prime location on the beach of the Saadiyat Cultural District, it continues to drive interest from investors and because of that demand, we are looking forward to releasing more residential units to the market in the near future, with plans to start leasing retail and F&B space to the market in Q4 of 2016."
TDIC said it is closely monitoring the project’s development with targeted milestones on schedule such as the completion of the basement and podium levels by the first quarter of 2017.
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