New residential, hotel projects unveiled for Abu Dhabi
National Corporation for Tourism & Hotels reveals plans for projects worth AED1.1bn in UAE capital
National Corporation for Tourism & Hotels (NCT&H) has unveiled two new residential and hotel developments in Abu Dhabi, told Arabian Business.
NCT&H chairman Sheikh Hamdan bin Mubarak Al Nahyan said the developments respond to the "increasing market demand for corporate and leisure tourism offerings" and are part of NCT&H’s three-year goal to expand its hotel and resort propositions.
The first development, Capital Views, situated in the new Abu Dhabi National Exhibition Centre (Adnec) area, has an estimated budget investment cost of AED700 million.
The project is a joint venture between NCT&H and SinoGulf and will be ready in the last quarter of 2021. It will comprise 319 one, two, and three-bedroom residences, alongside 323 serviced apartments.
The second development, Intercontinental Grand Marina Residences situated in Al Bateen, will offer luxury serviced apartments ranging from studios to three-bedrooms, totalling 130 hotel apartments.
With an estimated budget investment cost of AED400 million, the project is due to open in the beginning of 2021.
In both developments, residents and guests will have full access to complex facilities including all-day dining restaurants, pool and gym.
NCT&H added that it will start its Ritz-Carlton Saadiyat Island project by end of this year or in early 2020.
Al Nahyan said: “I strongly believe in the Abu Dhabi and UAE economy. The community and tourism development is a key aspiration of the UAE and Abu Dhabi Governments and these residential and leisure projects will respond to both local and international market demands. Thus NCT&H continues to deliver the UAE’s vision of a happy, confident and efficient society by ways of modern infrastructure.”