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FINANCIAL NEWS
NREC to launch $327m development in Abu Dhabi
13 Apr 2010
(MENAFN) Kuwaiti developer National Real Estate Company (NREC) said that it is planning to launch a $326.7 million residential project in Abu Dhabi, the first of several it plans to develop in the UAE, Gulf News reported.
The waterfront development, Carina Views, aimed at mid-income professionals will be developed on Abu Dhabi’s Reem Island, a statement from the company said.
Carina Views comprises 684 units in four towers and will be completed in the fourth quarter of 2012.
Abu Dhabi is currently facing a short supply in residential accommodation due to a growth in population in the last few years. REC owns and manages properties and assets in Kuwait, the Middle East and North Africa.
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