Masdar City ... to help tackle Abu Dhabi’s housing problem.
Masdar starts work on UAE residential complex
ABU DHABI, April 25, 2015
Masdar, a major renewable energy company in Abu Dhabi, UAE, said it has started construction of a residential complex in Masdar City, the low-carbon, sustainable urban development in the emirate.
This will help in meeting Abu Dhabi’s rising need for new residences as the emirate’s average annual population growth of 7.7 per cent has created a significant demand for housing in the emirate and currently outstrips supply, said a senior official.
"The start of construction of the residential complex is an important step forward toward completing the vision of Masdar City as a complete ecosystem focused on sustainability and innovation," remarked CEO Dr Ahmad Belhoul.
"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," he added.
Abu Dhabi’s pioneering, sustainable city, Masdar City, said the residential complex advances the city’s aim to be a leading hub of innovation where people live, work, learn and play.
Masdar City showcased its various developments and projects at the Cityscape Abu Dhabi held recently.
The Abu Dhabi firm 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 (Leadership in Energy and Environmental Design) 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,” he added.-TradeArabia News Service