The public takeover offer will be subject to a minimum acceptance threshold of 50% plus one share of Covestro's capital
Imagine living in villas on green hills, waking up to breathtaking views of pristine beaches in a village-like atmosphere.
Such a mesmerising sight, once unimaginable, is becoming a reality in Abu Dhabi. Construction works are underway by real estate development company Modon Properties to transform the sandy landscape into a one-of-a-kind beautiful residential development on Hudayriyat Island.
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Modon Properties, part of Q Holdings, revealed two vibrant communities as part of the island's first phases of luxury freehold residences.
Nawayef and Al Naseem, the twin developments, will include high-end residential villas with panoramic views of the Abu Dhabi skyline and waterfront and a family-oriented tranquil community. This is part of the massive masterplan for the island unveiled last year to drive the city's urban expansion.
Nawayef and Al Naseem will offer unique experiences that cater to a wide array of lifestyles and living options across 84 different properties.
Nestled within Hudayriyat Island, the development is surrounded by coastlines, offering access to a stretch of pristine beaches. Buyers from any country can invest in the two properties.
Jassem Mohamed Bu Ataba Al Zaabi, chairman of Q Holdings, said: "Both projects will enhance the Emirate's status as a global pioneer and innovator in urban development – reflecting Modon Properties' efforts to support Abu Dhabi's growth as a premier world-leading lifestyle, tourism, sports and services destination."
Nawayef, inspired by Newport Hills, California, is set upon and around hills reaching up to 55 metres and offers expansive views of the Abu Dhabi skyline and the Arabian Gulf. Each property within the development is designed to maximise these views, providing residents with bespoke luxury and a serene, private living environment.
Villas ranging from 350sqm to 2,700sqm create spacious living areas filled with natural light. About 19 villa types have been strategically placed throughout the neighbourhood to foster an organic village atmosphere.
Al Naseem is a family-oriented, low-density, serene community surrounded by an extensive network of amenities, including an exclusive country club with a gym, spa, pool, and a mosque. Each villa comes with the option of two distinct facade designs, with sizes ranging from 490sqm to 620sqm. The villas integrate both indoor and outdoor spaces.
Residents will be able to access world-class amenities, including Surf Abu Dhabi, Velodrome Abu Dhabi, the largest urban park in the emirate, Marsana, and a range of leisure and sports facilities located on Hudayriyat Island. The development also features over 220km of dedicated cycling tracks, catering to sports enthusiasts and nature lovers.
Bill O'Regan, group CEO of Q Holdings, noted: "Nawayef and Al Naseem will set new standards in modern, island living, enhancing Hudayriyat Island as a leading waterfront destination with exceptional experiences and dynamic lifestyle opportunities that are sure to continue captivating residents, visitors, and tourists alike."
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