UAE-based Management Consultants LLC (LEAD) and the National Investor PJSC will build the first residential community of private green villas and townhouses at Masdar City, a planned city project in Abu Dhabi, Invest-Gate reports.
The project will be delivered on a gross floor area of 250,000 square metres. It will be located in the southern district of Masdar City’s Free Zone and completed in 2022.
“Our ongoing successful development of Masdar City is demonstrating how cities can be economically, socially and environmentally sustainable,” says Chief Executive Officer of Abu Dhabi’s renewable energy company Masdar Mohamed Jameel Al Ramahi.
In a press release published on the company’s website, Al Ramahi adds that smart cities reduce energy and water demand and utilize waste efficiently while also building thriving communities.
“It is a great opportunity to be working closely with Masdar to deliver this unique sustainable development,” says Chairman of TNI Abdullah M. Mazrui.
“LEAD and TNI will work with the Masdar team to deliver a project in line with Abu Dhabi’s regulations for sustainable, water and energy efficient real estate developments. On behalf of our investors and management team, we would like to thank all those involved in making this vision and opportunity a reality, bringing to life a unique community that will complement the lifestyles of its diverse residents.”