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Reem Hills: $2.1bn gated community with man-made hill launched in Abu Dhabi

Abu Dhabi's Reem Island, a popular location for residents of the capital, will receive a new community featuring a man-made hill.

Q Properties' Reem Hills, its new Dh8 billion ($2.1bn) gated development, has been designed with enhanced greenery “to encourage its residents to indulge their senses”, the company said on Thursday.

As well as the man-made hill, the villa project will offer beach access, parkland, schools, mosques, a community centre and retail outlets.

“Reem Hills is an exclusive destination set around a unique, man-made hill, offering a serene lifestyle and an escape from the city life,” said Majed Odeh, chief executive of Q Holding.

The project will offer “the lowest rates for service charges across the majority of real estate projects”, he added.

Abu Dhabi registered real estate transactions worth Dh71.5 billion ($19.4bn) in 2021, as the UAE's property market continued to rebound from the coronavirus-induced slowdown.

The total number of transactions across sales and mortgage deals reached 14,958 last year, Abu Dhabi's Department of Municipalities and Transport said.

Yas Island topped the list of best-performing areas, registering Dh4.1bn in deals, followed by Reem Island (Dh3.2bn) and Saadiyat Island (Dh2.5bn).

The capital values of villas and apartments in Abu Dhabi rose to their highest level in five years in the fourth quarter of 2021, property consultancy ValuStrat said.

The emirate has also announced new launches to cater to growing demand. Aldar on Wednesday unveiled its Louvre Abu Dhabi Residences project, which offers views of the museum and the Arabian Gulf.

The residences will be within Saadiyat Grove and the development has an expected handover date of 2025.

It will comprise 400 apartments including studios, one, two- and three-bedroom apartments as well as five penthouses. All the units will be fitted with fixtures and built-in home appliances.

Q Properties is a subsidiary of Abu Dhabi-listed investment holding company Al Qudra Holding, which this week rebranded as Q Holding. The company operates across sectors including real estate, services, hospitality and diversified investments, and has 12 subsidiaries.

“Q Holding will be a prominent force in the vanguard of the next phase of economic development, under the guidance of a leadership determined to rewrite the future of successful, sustainable investment by focusing on excellence, diversification and stakeholder value,” said Abdulla Al Hamed, Q Holding’s chairman.