Masdar City Begins Construction on Residential Complex
Abu Dhabi, UAE, April 20, 2015 – Masdar City, Abu Dhabi’s pioneering, sustainable city, announced construction has begun on a residential complex that advances the city’s aim to be a leading hub of innovation where people live, work, learn and play.
Dr Ahmad Belhoul, CEO of Masdar, said: “The start of construction of this residential complex is an important step forward toward completing the vision of Masdar City as a complete ecosystem focused on sustainability and innovation.
“Masdar City has adopted a holistic approach to sustainable development, built on knowledge and talent, home to leading research and development facilities, a free zone with world-class businesses, and soon a residential complex.”
Masdar applied its design expertise to ensure the residential complex of 500 units of one- and two-bedroom apartments constructed with verified sustainable materials meets LEED Gold and 3 Pearl Estidama sustainability criteria.
The complex will have access to a gym, retail facilities and other amenities, as well as pedestrian-friendly walkways connected to the heart of Masdar City. The new residents will become a part of Masdar City’s growing sustainable community, in addition to the nearly 500 graduate students now pursuing studies and living at Masdar Institute
Recently Masdar City also broke ground on mixed-use Chic Residence serviced apartments, with residential, retail and recreational facilities. The serviced apartments will expand the number of ways that visitors to Abu Dhabi can directly experience the Masdar City lifestyle.
Masdar City Director Anthony Mallows said: “The Masdar City vision is attracting a host of new businesses and residents. Centrally located at the crossroads of the Middle East and Asian markets, this is the region’s only investment and free zone focused on innovation and sustainability.
“Masdar City offers a high quality lifestyle with walkable, accessible neighbourhoods that blend residential, commercial, open and cultural space, and it is growing steadily.”
Construction of the apartment complex will help meet Abu Dhabi’s rising need for new residences. Abu Dhabi’s average annual population growth of 7.7 per cent has created a significant demand for housing in the emirate and currently outstrips supply.
Masdar City will showcase its various developments and business and investment opportunities at Cityscape Abu Dhabi at the Abu Dhabi National Exhibition Centre (ADNEC). Spokespeople will be on hand to answer questions at stand 6A10 between halls five and six from April 21-23, 2015.