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UAE-based SinoGulf has announced plans to start building a 332-unit upscale residential complex near the Abu Dhabi National Exhibition Centre (ADNEC), during the first quarter this year
According to Gulf News, the residential development will be called Capital House, comprising one and two-bedroom units.
SinoGulf fund manager David Cockerton said, “The property will provide a much needed supply of one and two-bedroom apartments in an established island location, with good connectivity and amenities.”
In 2012, SinoGulf launched a high-rise commercial project near ADNEC, known as the International Tower. Some of its tenants include McKinsey and Company, BAE Systems and AECOM Technology. SinoGulf is currently focussing on leasing more units in International Tower.
“In the commercial sector, high quality stock performed very well in 2013 and have raised occupier expectations for new developments,” said Cockerton.
SinoGulf expects many new residential and commercial development real estate projects in Abu Dhabi to come onstream in 2014.