15.07.2013, 09:26

First phase of Abu Dhabi Hydra Village project complete

Author: News Editor

448 properties to be handed over to purchasers.

Hydra Properties, master developer of Hydra Village which is being built to accommodate 10,000 people under the Government of Abu Dhabi's Plan 2030 initiative, has announced the completion of all 448 first-phase properties.

Ali Saeed Bin Sulayem, Chief Executive Officer of Hydra Properties, said, "We have worked quietly but steadily over the past four years to fulfil our pledge to deliver these wonderful homes to our customers. Each home is built to the high levels of quality that our customers expect and the development as a whole will be a vibrant, family-friendly community."
"Since the launch of the project we have faced a number of challenges as a result of the global financial crisis, which had an impact on all real estate developers. We successfully implemented an aggressive consolidation strategy, re-allocating customers from underperforming and risky projects into projects that have shown strength, such as Hydra Village. The completion of phase one at Hydra Village is the first in a series of milestones we will celebrate as it shapes up to become a comfotable residential community," he added.

Situated near Yas Island, Al Raha and the area earmarked by the government for development of Abu Dhabi's future "Capital District", the self-sustaining community development will offer leisure, retail and entertainment facilities.

Mohamad Al-Habech, Chief Commercial Officer at Hydra Properties, said, "Our commitment to our remaining projects is as fierce as ever. We have ridden out several hurdles and setbacks on our journey like all real estate developers following the downturn, however we were able to take away key learnings and experiences which help make us stronger today."

"We are now focusing all our efforts now on the other zones at Hydra Village and on the Hydra Avenue development on Reem Island. Successful completion of these projects will help bring back consumer confidence in our company and in the recovery of the Abu Dhabi real estate market," he added.

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