Developer MERED has acquired a waterfront plot in Al Reem Island, Abu Dhabi. The newly acquired plot spans 11,890sqm and is located on Al Reem Island; the island is said to have emerged as one of the top spots for premium apartments, with investor confidence soaring in H1 of 2024, according to Bayut.
The development is the first waterfront project for MERED and will offer a combination of residential and commercial spaces featuring innovative design and modern architecture that aligns with the company’s vision. The location, currently under development, will offer infrastructure, connectivity and amenities, making it a attractive investment opportunity. The project will offer 310 luxury apartments.
“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 6% 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,” said Diana Nilipovscaia, CEO at MERED. 
The project’s location ensures direct access to Abu Dhabi’s key attractions and transport hubs, it is five minutes from Reem Central Park and 10 minutes from the city’s major thoroughfare Sheikh Zayed Bin Sultan Road. Residents are 15 minutes from the Galleria Mall and cultural landmarks like the Louvre and Saadiyat Marina and International airport is 30 minutes away, said a statement.
MERED said it has also begun with the construction of the ICONIC Tower, which is set to be the tallest in Dubai Internet City at 286.4m. Multiple partners have been brought on board to create the tower including global architectural design firm Pininfarina and Hirsch Bedner Associates (HBA) for interior design, among many others.
