Manazel Real Estate, an Abu Dhabi-based property developer, announced that it has prepared to launch a coastal project to endeavour its tourism venture in Ghantoot, a coastal are situated between Dubai and Abu Dhabi.
This tourism project will be one of the major real estate projects in the UAE. Currently, it is in the licensing stage and the details will be announced at Cityscape Abu Dhabi in April, as confirmed by the Chairman of Manazel, Mohamed Mehanna Al Qubaisi.
The builder has already expressed its wish to have a partnership with a prefabricated house builder to quicken the home building process at lower cost.
Earlier in 2006, the developer planned to develop Manazel New City which incorporates 2,500 low cost villas at Ghantoot. Till 2014, it managed to complete 1,818 apartments and 2,376 villas at Al Reef Downtown. This year, Manazel is going finish building of 860 villas at Al Reef 2 in Samha, near Khalifa Port.
The company also added Dunes Village, a 19-storey residential apartment, in Dubai Investments Park and Capital Mall, spread over 60,158 sq. mt., in Mohammed bin Zayed City in Abu Dhabi.