Overview
This session covers the National Investment Corporation (NIC), the master developer behind Abu Dhabi's Marina Breakwater and its key real estate projects.
NIC Background and Role
- NIC was established in 1999 under the guidance of Sheikh Sultan bin Khalifa Al Nahyan.
- NIC is the master developer for the Marina Breakwater area in Abu Dhabi.
- The corporation manages Marina Mall and various marinas within the district.
Key Real Estate Developments
- The main project is the former Fairmont, now called the Rixos hotel complex.
- The Rixos project comprises a hotel and a residential tower with apartments.
- Available properties include high-end one, two, and three-bedroom apartments for sale (now present on the secondary market).
- Villas and serviced apartments, along with apartments for rent, are also part of the development.
- Apartments are serviced to a high standard, with access to pools and a beach.
Market Position and Amenities
- The development is positioned as a luxury offering with extensive amenities.
- Service charges are higher than average due to the high-end facilities and services provided.
- NIC is responsible for the management of the area’s major retail and leisure facilities.
Additional Information
- For more insights on Abu Dhabi developers, the presenter encourages following their social media channels.