Mubadala and Taiwanese firm begin $1b project on Al Maryah Island
Mubadala Real Estate & Infrastructure (MREI) and Taiwanese property developer Farglory Group have broken ground on the $1b Maryah Plaza, a four-tower luxury waterfront complex on Al Maryah Island. The four towers will be developed in phases and, when complete in 2020, will have a combined GFA (gross floor area) of 153,000 sqm.
Designed by Rogers Stirk Harbour + Partners, Maryah Plaza has been conceived to complement the waterfront view and the natural environmental characteristics of Abu Dhabi, using building design to represent and symbolize sailing, cruises and decks.
With residences ranging from one-bedroom apartments to penthouses, the development will offer landscaped parks and open spaces, art galleries, community centres, and a wide arrange of street
cafés and world class restaurants.
Maryah Plaza will provide approximately 500 premium residences in the hub of Abu Dhabi’s new Central Business District (CBD) further extending the offering of Al Maryah Island to local residents and tourists.
“We are delighted to collaborate with the Farglory Group on the creation of a vibrant new neighbourhood that will be a further catalyst to the development of Al Maryah Island and the vision of Abu Dhabi’s Central Business District,” commented Ali Eid AlMheiri, director, Mubadala Real Estate & Infrastructure.
Teng-Hsiung Chao, Chairman of Farglory Group said, “Al Maryah Island is a truly visionary mixed-use district and we are proud to have the opportunity to contribute to Mubadala’s vision for this development. Coupled with Farglory’s 44 years of real estate development experience Maryah Plaza, will raise the bar for luxury residential developments by combining the renowned design expertise of Rogers Stirk harbour + Partners, resort-style amenities and carefully designed community spaces to create an outstanding living experience. ”