Reem Investments has announced plans for a 42 luxury villa waterfront community at Najmat, the master developer’s $8 billion real estate project at Reem Island, Abu Dhabi.

Nalaya Villas will be located on the southern shore of Najmat, a spectacular 16 million sq ft development on Reem Island which is just 300 metres off the coast of Abu Dhabi’s city centre.

The 42 villas, comprising three, four and five bedrooms, will be available for lease directly from Reem Investments which will spotlight the project later this month at Cityscape Abu Dhabi, the region’s premier real estate investment and development event. The villas are expected to be completed by the second quarter of 2012.

The Nalaya development will have a private beach, a park, a private clubhouse and swimming pool.

“These 42 villas will have a distinctive architectural quality and offer Abu Dhabi residents a safe and close-knit community lifestyle, a sanctuary from fast paced city life,” stated Bambang Sugeng Bin Kajairi, chief executive officer of Reem Investments.

“Progress on Najmat continues to be made at a steady pace; we have completed Phase 1 infrastructure works and Phase 2 infrastructure works have commenced which include the creation of the beaches.”

Reem Investments is also the master developer of Rawdhat on Airport Road in Abu Dhabi, the first dedicated ‘develop to lease’ residential, business and retail community in the capital.  It includes the Dome@Rawdhat recreational facility, already a popular venue for sporting activities, and home to Manchester United Soccer Schools.-TradeArabia News Service