Tamouh set to deliver Marina Square

ABU DHABI - For Tamouh, 2011 is a good year. The leading Abu Dhabi-based property developer is going to deliver all the 13 towers of its flagship Marina Square poject within the next couple of months.

by

Nissar Hoath

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Published: Wed 20 Apr 2011, 11:52 PM

Last updated: Tue 7 Apr 2015, 3:33 AM

On the sidelines of Cityscape Abu Dhabi 2011, a top official of Tamouh told Khaleej Times that four of the towers in Marina Square project have already been handed over to investors, who are in the process of delivering the units to end-buyers. She also said the company will soon make a big announcement with a mega project.

“The year 2011 is a good start for us. This year we are very focused on giving a clear message and giving a proper information kit about the delivery of our flagship project — Marina Square. The towers at the square have been ready for the past six months. Four of them have already been delivered to investors recently and the rest of the 13 residential towers will be delivered to investors within the next two months,” Marketing Director Samia Bouazza in an interview.

However, she said there were some delays in the delivery of the finished towers at Marina Square because of authority approvals and procedures that, she added, were now sorted out.

“We are happy that positive measures were taken from the government to help us speed up the delivery process with regard to this particular project,” Samia said.

“Now the investors are communicating and finalising the handing over of the units with their end-buyers. In fact some of the buyers have already started the interior designing of their units.”

Tamouh is developing a variety of mixed-use projects in Abu Dhabi and Al Ain with a combined cost of Dh30 billion. According to the company, all the ongoing projects will be completed and delivered in 2013.

When asked about new projects for 2011, Samia said Tamouh was all set to make a big announcement but would not elaborate on that. However, after insistence queries, she disclosed it would be about entering into a market that was new to them and that was the entertainment sector.

“It is something that is new to us. I can only say it is in the entertainment sector. I cannot disclose any figures about investments in the project because we are a private company.”

Talking about the Cityscape participation, she said: “Though we have several projects in Abu Dhabi Emirate, here at the Cityscape we are only showcasing the Marina Square. The idea is to guide end-users on the delivery process and with little bit of help in interior designs as well as services and facilities like community centres, parks and other public places and shopping outlets available in the development.”

After Marina, it will be the City of Life on Reem Island with 19 buildings set for completion in the beginning of 2013.

“All these buildings will be handed over at once. We are talking about 4,750 units to be added to Abu Dhabi city. The City of Life is not only the 19 buildings. We also have other projects, residential and commercial developments in the city. However, 90 per cent of them are residential units,” she explained. When asked about their Mina Plaza project owned and managed by the company itself, Samia said: “Mina Plaza is actually on hold now. We are re-doing the design of four floors at the podium level.”

“There are two main factors for keeping the project on hold that I cannot talk about now. Mina Plaza is something that we own. It is not a project that we have to deliver to others. We are going to rent it out. The project is on hold for a couple of months. However, it will be completed and delivered in 2013.”

nissar@khaleejtimes.com



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