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Burj Mohammed bin Rashid tower in Abu Dhabi 90 per cent leased

Aldar has announced that leasing in the tallest tower in Abu Dhabi has already reached 90 per cent as demand for prime residential property in the capital remains strong.

The units at the 382m tall Burj Mohammed bin Rashid were launched in November, and the skyscraper now houses 852 residents, according to the developer.

The tower has 474 units over 92 floors and has direct access to the World Trade Center Mall.

The project was originally developed by Aldar but was sold to the government in 2011 during the global financial crisis with Aldar retained as development manager on the scheme.

“We are extremely pleased by the market’s response to the launch of Burj Mohammed Bin Rashid, demonstrating that customers in Abu Dhabi are demanding premium quality living spaces with enviable views and world-class amenities,” said Talal Al Dhiyebi, chief development officer at Aldar.

Aldar last week said that it plans to press ahead with the construction of 7,300 homes in Abu Dhabi over the next five years despite the fall in oil prices.

The company announced a slight dip in full year profits for 2014 but is upbeat for its prospects this year.

Source: thenational.ae

business@thenational.ae

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