Images, plot maps and other important information about Al Reef Villas can be found on this
UAE property forum.
The following copy is from the original press release in 2006 announcing the intention to develop Al Reef Villas.
Abu Dhabi: Expatriates can buy villas in Abu Dhabi on a
99-year renewable freehold basis, for the first time, the promoters of a Dh3
billion residential project announced yesterday.
Currently, expatriates are allowed to buy only apartments in some of the capital's
projects.
"UAE nationals and foreigners will be allowed to buy villas and apartments
at the Al Reef Villas project. We have approval from the government for
freehold sale of villas, renewable automatically after 99 years," said
Mohammad M. Al Qubaisi, Chairman, Manazel Real Estate.
Abu Dhabi-based Manazel and Dubai-based Hydra Properties will jointly develop
the project at Shahama, close to the Abu Dhabi-Dubai highway as well as the
capital's airport.
"This is the first time expatriates can buy villas in Abu Dhabi. There
will be villas for all classes of investors," Al Qubaisi told a news
conference.
The Al Reef project comprises 2,500 villas and 1,500 apartments. Prices start
from Dh500,000 and go up to Dh1.3 million. The project will offer two-to-five-bedroom
villas and two-to-three-bedroom apartments.
Construction will begin in early 2007 and completion is slated for late 2009 in
three phases.
"The project will be developed over 10 million square feet of land and
will include all facilities such as schools, play areas, malls, gardens and
related facilities," said Al Qubaisi.
The land is owned by Hydra Properties but has been sold to Manazel for development.