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$1bn residential scheme breaks ground in Al Maryah Island, Abu Dhabi

Construction has begun on a $1bn residential scheme in Abu Dhabi’s Al Maryah Island development. Headed by Taiwanese developers Farglory, Maryah Plaza was designed by Richard Rogers and will encompass 153,000 sq m of residential, commercial and hotel units spread across four glittering glass and steel towers.

Speaking to local news publication The National, Chairman of Farglory Chao Teng-Hsiung said: “Giving its prime location, a very similar comparable in the world in terms of property is the Burj Khalifa and One Hyde Park to give you an idea of what we are looking [at] for this premium luxury waterfront living.”

Maryah Plaza is currently the only lease-hold residential project in the heart of Abu Dhabi and has been marketed to the elite with sky-high prices. The first of three phases is due to open to residents in 2016.

The 3.5 million sq m masterplan for the Al Maryah Island development has been drawn up by Broadway Malyan, outlining a new Central Business District for Abu Dhabi and providing guidelines for the entire 144-hectare island.

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