The contract for apartment sales of the a 57-storey tower Waterfront Residence, Abu Dhabi's latest residential tower was recently awarded to Asteco.
The tower, offering a total of 430 apartments, represents an investment of more than Dh800 million, according to Khaleej Times. It will be located on the Shams, Reem Island master planned community, and is due for completion by mid-2009.
"We have seen an increase in demand for premium residential apartments in Abu Dhabi," said Damian Hill, Asteco's sales team leader in Abu Dhabi.
"Although many projects are coming on stream, residents are not satisfied with the quality, service standards, room sizes and facilities provided. We are confident that the Waterfront Residence will set new quality and design standards in Abu Dhabi."
Apartments are available on a 99-year lease. Sales will be launched at Cityscape an potential buyers can view the model at the Asteco stand in Hall 8 of the Dubai International Exhibition Centre (DIEC).
© 2006 Mena Report (www.menareport.com)
