Al Reem Island, ‘The Pearl’ and ‘Emirates Pearl Island’, is a residential, commercial and business project to be built on the natural island 600 meters off the northeastern coast of Abu Dhabi Island. Reem Island is connected to the Abu Dhabi city island by 2 or 3 bridges and be located 20 minutes from the Abu Dhabi International Airport.
The Island is being developed by three master developers Sorouh Real Estate (Shams Abu Dhabi Sorouh owns 20%), Reem Investments own 20%, and Tamouh Investments owns 60%. One of the first free zones in Abu Dhabi, where foreign nationalities can buy properties as leasehold.
The development is overseen by an independent third-party facilities management company known as Bunya. Bunya is responsible for planning, executing and managing infrastructure and operations on Reem Island and Bunya will ensure all three Reem Island developers meet the high standards of construction. The Island is estimated to accommodate 280 thousand residents and will include important amenities like schools, medical clinics, shopping malls, restaurants, hotels, resorts, spas, gardens, and beaches. Properties that are available in Al Reem Island will be on an extendable 99-year leasehold basis. In total, around 6,000 residential units are handed over with the first buildings completed by 2010, 2011 and 2012, in Marina Square, Tamouh.The island will provide 87 million sq ft of high-quality offices, residential, retail and leisure spaces on completion.