MERED, an award-winning international real estate developer, has significantly expanded its operations in the UAE by opening a new strategic office on Al Reem Island and acquiring two prime waterfront plots for its first waterfront development in Abu Dhabi. This move strengthens MERED’s presence in the capital and aligns with the growing demand for upscale real estate in the region.
Strategic Office Opening
MERED’s new office, located at Sky Tower on Al Reem Island, serves as a central hub to support the company’s growing workforce in Abu Dhabi. The office will facilitate the management and delivery of several key real estate projects, responding to the increasing investor interest in MERED’s developments in the capital. This strategic expansion underscores MERED’s commitment to contributing to Abu Dhabi’s evolving skyline.
Major Waterfront Development
MERED has acquired two adjacent waterfront plots totaling 23,433 square meters on Al Reem Island, marking its first waterfront project in Abu Dhabi. Currently in the schematic design phase, the development will feature a combination of residential and commercial spaces, characterized by modern architecture, cutting-edge infrastructure, and world-class amenities. The project draws inspiration from MERED’s successful ICONIC Tower in Dubai Internet City, a 286.4-meter-tall structure housing 310 luxury apartments.
Designed in collaboration with Pritzker Prize-winning architects, this development aims to set a new benchmark for super-prime living in Abu Dhabi. Its prime location on Al Reem Island, known for its stunning waterfront views and vibrant community, enhances its appeal to both residents and investors.
Strategic Location and Market Strength
Al Reem Island, now part of the Abu Dhabi Global Market (ADGM), benefits from a business-friendly environment with English common law, progressive regulations, and access to a globally recognized financial ecosystem. The area has seen a 6% price increase in the high-end apartment market during the first half of 2024, reflecting strong demand for premium properties. Additionally, Abu Dhabi has experienced a remarkable 225% increase in foreign direct investment, further boosting investor confidence.
The development’s connectivity adds to its attractiveness, with key landmarks such as Reem Central Park (5 minutes), Sheikh Zayed Bin Sultan Road (10 minutes), Louvre Abu Dhabi and Saadiyat Marina (15 minutes), and Abu Dhabi International Airport (30 minutes) easily accessible.
Leadership and Vision
MERED has appointed Michael Belton as its new Chief Executive Officer to lead its expansion efforts in the UAE. Belton will oversee the development of the Al Reem Island project and the ICONIC Tower in Dubai, focusing on delivering innovative and sustainable projects that elevate the UAE’s real estate sector. His leadership is expected to enhance MERED’s market visibility and drive growth across the region.
Diana Nilipovscaia, MERED’s former CEO, emphasized the strong performance of Abu Dhabi’s real estate market, noting the high demand for upscale properties and surged investor confidence in the first half of 2024. She expressed excitement about delivering the same level of innovation, quality, and sustainability seen in MERED’s Dubai projects to Abu Dhabi.
Market Context and Opportunities
The Abu Dhabi real estate market is thriving, with Al Reem Island emerging as a top destination for premium apartments. The expansion of ADGM to include Al Reem Island has created significant opportunities for businesses, offering a supportive ecosystem for growth. MERED’s strategic acquisitions and office opening position the company to capitalize on these opportunities, contributing to Abu Dhabi’s reputation as a global hub for business and innovation.
| Details of MERED’s Expansion on Al Reem Island | Information |
| Location | Al Reem Island, Abu Dhabi (part of ADGM) |
| Plot Size | 23,433 sqm |
| Development Type | Residential and commercial spaces |
| Design Phase | Schematic design phase |
| Features | Modern architecture, cutting-edge infrastructure, world-class amenities |
| Market Context | 6% price increase in high-end apartments (H1 2024), 225% increase in foreign direct investment |
| Connectivity | 5 minutes from Reem Central Park, 10 minutes from Sheikh Zayed Bin Sultan Road, 15 minutes from Louvre Abu Dhabi and Saadiyat Marina, 30 minutes from Abu Dhabi International Airport |
| Previous Project Reference | ICONIC Tower in Dubai Internet City (286.4 meters, 310 luxury apartments) |
| CEO Statement | Diana Nilipovscaia highlighted high demand and investor confidence (MERED) |
MERED’s expansion on Al Reem Island, through its new office and major waterfront development, reinforces its position as a leading real estate developer in the UAE. By leveraging the strong market conditions and strategic advantages of Al Reem Island, MERED is poised to deliver a transformative project that will enhance Abu Dhabi’s skyline and contribute to its growth as a global business hub.
