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FINANCIAL NEWS
UAE’s Hydra to make two construction projects in Abu Dhabi
23 Apr 2014
(MENAFN) Abu Dhabi-based Hydra Properties expects its earnings to reach as much as USD727 million after constructing two new projects in the UAE’s capital, according to the Emirates 24/7.
Hydra Properties will construct over 1.000 villas in Shahama in one of the projects, while the other will be building six towers on Reem Island just off the city.
The first phase of Shahama project, which includes 484 villas, has been already completed and sold for USD 108.88 million, while most of the uncompleted second phase was also sold.
The company”s chief commercial officer Mohammed Al Habech said that sales revenues from the second phase are expected to reach USD155.3 million.
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