Arady Introduces Urban Oasis Development

ABU DHABI - Arady, an Abu Dhabi based Shariah compliant investment company focused on real estate, private equity and infrastructure, introduced the Urban Oasis development at the Cityscape Abu Dhabi.



By (Staff Report)

Published: Thu 23 Apr 2009, 12:31 AM

Last updated: Sun 5 Apr 2015, 10:12 PM

The purpose-built apartments and villas will come up on the most sought-after residential areas in Abu Dhabi including Rawdhat, Mohammed bin Zayed City, Khalifa A City, and Khalifa B City. Arady’s Urban Oasis project is in response to the housing shortage being faced in Abu Dhabi by developing affordable apartments and villas for companies that find it increasingly difficult to provide suitable staff accommodations.

“With Plan Abu Dhabi 2030 predicting a population upsurge over the next decades, there is an urgent need for affordable homes,” said Jassem Saleh Busaibe, CEO of Arady.

“This development aims to meet the burgeoning demand for residential property in this booming city.” Herve Bontemps, Arady’s Chief Development Officer, said that with Urban Oasis developments, the plan is to introduce up to 500 apartments and 285 villas.

“We are giving companies the opportunity to commission appropriate accommodation and contract rental terms that will ensure staff housing needs are effective and affordable,” he said.

Urban Oasis will offer selected corporate, government or semi-government organisations the opportunity to enter into medium or long-term lease agreements, enabling them to secure high quality but reasonably priced housing for their employees in Abu Dhabi’s “Second Downtown.”

Early consultation with potential corporate and individual lessees will enable Urban Oasis to develop residential units that meet employees’ ideal requirements in terms of size, number of units, number of bedrooms, floor layout, facilities, and specifications and build quality.

Arady launched a Dh550 million Abu Dhabi Property Opportunity Portfolio joint venture, launched in conjunctionwith Al Aman Investments, focusing on the trading of land and income producing assets within Abu Dhabi.

haseebhaider@khaleejtimes.com


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