Taiwanese developer Farglory is to resume construction of the high profile Maryah Central development in Abu Dhabi after a delay of around 18 months while it redesigned the project to make it more affordable.
Abu Dhabi based civil construction firm, Al Faraa Group has been named as the main contractor on the $1bn Richard Rogers-designed project.
Stationed at the waterfront in Al Maryah Islands new financial free zone, Maryah Plaza will consist of four towers, three of which will house luxury apartments. Farglory stopped work on the project in 2014 after a dip in property prices.
With final designs and Al Faraa Group now locked in place, work is underway at the site. Far Glory Middle East has re-shaped the original interior layout to meet the market demand for more ultra-prime one and two bedroom apartments on the island.
The first of three 29-floor-high towers is scheduled to be completed in 2018, offering a range of one bedroom apartments to penthouse suites with private swimming pools and terraces. The fourth, and largest tower, will house offices, serviced apartments, and a boutique hotel with restaurants, cafes, and shops spread across the ground level of the building.
Jack Hu, Managing Director of Farglory Middle East said: With our strong track record of over 700 successful construction projects globally we believe Maryah Plaza will become a global icon and a benchmark for luxury and we are delighted to be working with such a strong local contractor.
Working in partnership with Al Faraa Group and RSH+P we are building a new architectural landmark together that will help to redefine Abu Dhabis skyline on Al Maryah Island.
Adel Saleh, President and Executive Chairman for Al Faraa Group, said: We are delighted to be working on such a prestigious development on our home turf alongside such dynamic and forward thinking partners.
We understand the importance of Al Maryah Island to the future of the capital and therefore the significance of Maryah Plaza to the Abu Dhabi Vision 2030.