Kuwaiti developer launches housing project on UAE island

Abu Dhabi, April 13 (IANS/WAM) Kuwait’s National Real Estate Company (NREC) has announced a four-tower residential project, worth 1.2 billion UAE dirhams (about $326 million), to be developed on Al Reem Island.

The waterfront Carina Views towers have been specifically designed to meet the needs of the middle-income professionals, the company said Monday.

NREC is a leading regional real estate investment and development company that owns and manages properties and assets across Kuwait, the Middle East and North Africa.

Carina Views is NREC’s flagship development project in Abu Dhabi.

Khaleel Al-Abdullah, chief executive officer at NREC, said: Even with the economic crisis, accommodation requirements still need to be addressed in Abu Dhabi. We decided to enter the market and target mid-income professionals to fill a gap that was very much there. We are confident Carina Views is the first of many UAE projects we are embarking on.”

The 684 Carina Views units are priced reasonably, and offer well-designed spacious housing.

Standing at 22 storeys each, the four residential towers are strategically located at the entry to Reem Island. It provides buyers with a variety of units to choose from, including one, two and three bedroom apartments, two and three bedroom duplex penthouse apartments and eight exclusive water villas.

–IANS/WAM