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Al Maryah Island

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About Al Maryah Island

Labelled as Abu Dhabi’s new Central Business District (CBD) in Plan Abu Dhabi 2030, Al Maryah Island (formerly Sowwah Island) is a world-class business and lifestyle hub with a total area of 12.2 million sq.ft. The area is being developed in three phases, comprising commercial, leisure, retail, residential and a hotel district. Al Maryah Island will provide housing for up to 30,000 residents and support a working population of 75,000. Upon completion, the island will have numerous parks, community centers, cultural institutions, restaurants and fashion retail stores.

The master developer of Al Maryah Island is Mubadala Real Estate and Infrastructure, the shareholder of which is the Government of Abu Dhabi. Meanwhile, the master plan concept belongs to the award-winning Broadway Malyan company.

As a vibrant lifestyle destination, Al Maryah Island is home to two five-star luxury hotels, the Rosewood Abu Dhabi and Four Seasons Hotel Abu Dhabi, and an exceptional shopping mall; Galleria Al Maryah Island. Moreover, there is Cleveland Clinic Abu Dhabi, which is part of the Cleveland Clinic Foundation USA, also located on the island and providing world-class health care. And of course, it is also worth mentioning the Abu Dhabi Global Market, which is an international financial center and a free zone.

Location

Al Maryah Island boasts an excellent location, as it sits midway between the existing central business district of Abu Dhabi, Mina Zayed, Al Reem Island and Saadiyat Island Cultural District. As well as this, there are four operational bridges that link the development with Hamdan Street and Electra Street on Abu Dhabi Island to the west and with Al Reem Island to the east. It is worth noting that two of these bridges will eventually carry out Abu Dhabi’s planned light railway system.

The prime location means a drive from Al Maryah Island to Abu Dhabi and Al Reem Island will take about 10 minutes’, and Abu Dhabi International Airport is 25 minutes’ away. Meanwhile, the estimated travel time to Dubai is under 1.5 hours.

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Economic Appeal

The previously mentioned Abu Dhabi Global Market occupies the entire Al Maryah Island, and is designed to act as a catalyst for the growth of a dynamic financial services sector in the UAE. It became fully operational in October 2015 and has its own commercial and civil laws.

Home to over 50 blue chip companies, the growing business and hospitality hub features 4.8 million sq.ft. of office, retail and hotel offerings. There are four commercial towers called Al Sila, Al Sarab, Al Makam and Al Khatem with numerous Grade A office spaces. These buildings were the first in the UAE to be awarded the prestigious LEED Core and Shell Gold Pre-Certification by the US Green Building Council. A high floor office of 4,520 sq. ft. in ADGM can be rented for AED 930K (USD 254K) per annum, inclusive of service charge and maintenance.

Besides providing a wide range of services covering banking, wealth management, insurance, asset management and others, ADGM provides an excellent environment for family businesses, corporate headquarters and domicile holding companies. Benefits of operating from ADGM are as follows:

  • 100% foreign ownership
  • Ease of setting up business
  • No restrictions on employment
  • Unlimited repatriation of capital
  • 0% personal and corporate tax
  • Growing number of double tax treaties

As well as the above, the ADGM houses Hub71, which is Abu Dhabi’s global eco system set by Mubadala, the ADGM, the Abu Dhabi Government, SoftBank and Microsoft.  The mega hub is aimed at accelerating the local economy by bringing together start-ups, innovations and global powerhouses in the technology industry. Since its launch in 2019, it has hired 250 employees with plans for a further 340 over the course of 2021. Hub71 also supported almost 250 start-up individuals, making the move of global startups to Abu Dhabi easier and more affordable. As of February 2021, it has attracted 102 start-ups, despite the challenging economic climate caused by the COVID-19 pandemic.

Off-Plan Properties

One of the most anticipated residential projects on Maryah Island has to be Maryah Plaza by Farglory Group.  The four-tower structure with 1,450 units represents the first-ever Middle East project commissioned by Pritzker-winning architect Lord Richard Rogers. Upon completion, Maryah Plaza will provide a range of luxury one and two-bedroom apartments and penthouses, the sizes of which range from 968 to 9,687 sq.ft. There will also be a hotel, as well as retail and commercial spaces. Meanwhile, on-site world-class amenities include an infinity swimming pool, a club lounge, landscaped terraces, a spa center and a gym, among many others. The starting price for a two-bedroom apartment is AED 3.5M (USD 950K), while the expected ROI is 4%.

Popular Properties

The first phase of Al Maryah Vista by Reportage Properties was launched in 2019 in the form of a 22-storey tower with 772 apartments. This development is expected to be ready for handover in Q1 2024. According to the CEO of Reportage Properties, the development has proven to be very popular among end-users and investors, so it was decided to launch the second phase in 2021. Due for completion in Q2 2025, the 29-floor tower plans to feature 588 housing units in total. Homeowners will be able to benefit from a car park with a capacity of 810 cars, a gym, children’s play area, swimming pool and a mosque.

Prospective buyers can choose from a large collection of studios and one, two, three and four-bedroom apartments in the complex of Maryah Vista. There are also luxury three and four-bedroom duplexes available, as well as two, four and five-bedroom penthouses for sale and to rent. Thus, a one-bedroom apartment of 525 sq.ft. can be acquired for AED 505K (USD 138K), while a four-bedroom duplex of 2,016 sq.ft. is priced at AED 1.3M (USD 354K). Meanwhile, a four-bedroom penthouse of 3,282 sq.ft. is on offer for AED 3.2M (USD 872K).

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Attractions

Al Maryah Island is surrounded by a 17,716 ft waterside pedestrian promenade, which offers various cafés and bistros. It is also set to host ever-popular events such as National Day, Eid celebrations, seasonal markets and the largest New Year’s fireworks display in Abu Dhabi, among many others. The promenade ensures maximum access to the waterfront and is the perfect setting for lunches, leisurely strolls and runs.

Spanning across more than 355,000 sq.ft. Galleria Al Maryah Island is the ultimate shopping and dining spot that features a broad variety of high-end fashion brands and an array of signature eateries. Taking luxury retail amenities to another level, the shopping mall offers collections of iconic brands such as Gucci, Prada, Marc Jacobs, Mulberry and Louis Vuitton, just to name a few. There are two dining terraces as well, where visitors can enjoy a delicious meal in famous restaurants including La Petite Maison, Zuma and Loca. Galleria Al Maryah Island also features various activities for children and teens in the Xtreme Zone, Mirage Amusement and the Middle East’s first National Geographic Ultimate Explorer, among other areas. It is worth mentioning Zero Latency, which is the first free-roam VR experience in Abu Dhabi, while a 21-screen Vox Cinema is home to the only laser IMAX in the city.

In January 2021, Al Maryah Island launched the ACTIVE sports facility with three outdoor football fields, four tennis courts and four multi-purpose sports courts. In fact, there is an outdoor FIFA-standard football pitch, alongside artificial turf pitches. Powered by Zayed Sports City, ACTIVE is also set to house City Fall Schools and the LaLiga Academy. In addition, three paddle courts and eight courts can be found inside the air conditioned sports dome.

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