Mered, a leading international premium real estate developer, has acquired a prime waterfront plot on the vibrant and well-connected Al Reem Island, Abu Dhabi to develop a mixed-use project.

Al Reem Island, a part of key financial hub of Abu Dhabi Global Market (ADGM), has emerged as one of the top spots for premium apartments.

This is the developer’s first waterfront project and will offer a combination of residential and commercial spaces characterised by innovative design and modern architecture that aligns with the company’s vision.

The project is in the schematic design stage by world-famous architects. The location, currently under development, will offer robust infrastructure, excellent connectivity, and world-class amenities, making it a highly attractive investment opportunity, Mered said.

Diana Nilipovscaia, CEO at Mered, said: “Abu Dhabi’s real estate market has sustained its strong 2023 performance into 2024, with increasing confidence among local and international high-net-worth individuals and record-high foreign direct investments.

“With a six per cent price appreciation for luxury residential apartments in the city in the first half of the year, this is the perfect time to begin the development of our exclusive project on Al Reem Island.

“Inspired by the success of our Iconic Tower in Dubai, we are excited to bring the same quality, innovation, and sustainable development to Abu Dhabi. Our acquisition of this prime waterfront plot aligns with our vision to redefine real estate with timeless masterpieces that enhance cityscapes and enrich residents’ lifestyles.”

The project’s strategic location ensures direct access to Abu Dhabi’s key attractions and transport hubs. It is just five minutes from Reem Central Park and 10 minutes from the city’s major thoroughfare Sheikh Zayed Bin Sultan Road.

Mered has begun construction of the Iconic Tower, set to be the tallest in Dubai Internet City at 286.4 m.