LEAD Development and Project Management Consultants (LEAD) and The National Investor (TNI) will build the first residential community of private “green” villas and townhouses at Masdar City, Abu Dhabi’s flagship sustainable urban development, it was announced….reports Asian Lite News
The project, which will also include apartments, is to be delivered over 250,000 sqm of gross floor area (GFA). The freehold real estate development will accommodate around 5,000 residents when completed in 2022, and will be open to both UAE and foreign national investors, the developers said in an emailed press release.
Located in the southern district of Masdar City’s Free Zone, the project will meet a minimum 3 Pearl rating according to Abu Dhabi Urban Planning Council’s “Estidama” sustainability framework for built environments and urban communities.
Abdullah M. Mazrui, Chairman of TNI, said, “LEAD and TNI will work with the Masdar team to deliver a project in line with Abu Dhabi’s regulations for sustainable, water and energy efficient real estate developments.”
Mohamed Jameel Al Ramahi, Chief Executive Officer of Masdar, Abu Dhabi’s renewable energy company, said, “Our ongoing successful development of Masdar City is demonstrating how cities can be economically, socially and environmentally sustainable, reducing energy and water demand and the production of waste efficiently and cost effectively, while also building thriving communities.”
The private sector, Al Ramahi added, has a vital role to play in promoting the wider adoption of commercially viable solutions to urban sustainability challenges, and in sharing knowledge and experience across the industry. “LEAD and TNI share our vision for low-carbon urban development, and we are delighted to be working with them in realising the future expansion of Masdar City.”
Residential property will make up more than 90 per cent of the mixed-use development. Roughly 7,800 sqm has been set aside for community amenities, and there is additional space for commercial units. Abu Dhabi’s planned light rail system will also serve residents. The new project from LEAD and TNI adds to significant construction activity currently underway at Masdar City.