ABU DHABI (ALETIHAD)
Royal Development Holding has launched the second phase of the Dh1.45 billion Radisson Residences Al Reem Island development, adding a third tower with 437 furnished homes.
The tower will include studios and one-bedroom apartments, along with a limited number of two-bedroom townhouses, the company said in a statement.
Royal Development Holding, a premium real estate developer and subsidiary of ADX-listed Emirates Stallions Group, said the residences would be ready for rental upon handover and were aimed at investors in the UAE and international markets.
The launch follows the sale of all units in the project’s first phase within 24 hours, according to the statement.
The company described Radisson Residences Al Reem Island as the world’s first standalone Radisson Residences development. Located on the waterfront, the project will apply Radisson Hotel Group’s hospitality standards to its residential offering.
The second phase will retain the design and branded-residence features introduced across the wider development. Its residences will feature panoramic glazing and private terraces, with views of the waterfront and surrounding greenery.
Residents will have access to waterfront trails, landscaped courtyards, fitness and wellness facilities, communal lounges and a pool deck overlooking the water, the statement said. The project will also provide access to Reem Central Park.
“The success of the first phase of Radisson Residences Al Reem Island reflects the depth of demand for premium branded residences in Abu Dhabi and the continued confidence buyers have in developments that combine location, design quality, trusted brand standards and long-term value,” Tariq Nazzal, Chief Executive Officer of Royal Development Holding, said.
“Phase Two builds on that momentum with furnished residences shaped around investors in the UAE and international markets and designed to be rental-ready upon delivery,” he added.
Nazzal said the phase offered investors rental potential alongside the design, quality and lifestyle features available across the wider development.
Elie Milky, Chief Development Officer for the Middle East, Northeast Africa, Greece and Cyprus at Radisson Hotel Group, said the project represented an important milestone in the group’s expansion in the branded-residences segment.
“The exceptional response to the first phase reinforces our confidence in Abu Dhabi as a market where trusted international brands, quality real estate and lifestyle-led living come together particularly well,” Milky said.
Royal Development Holding said the project would expand its presence in Abu Dhabi’s branded-residences sector and support its plans to grow its premium real estate portfolio.