NIC launches sale of serviced residences in Abu Dhabi’s Fairmont Marina Residences

George Sell By George Sell
19 December 2014 | Updated 19 December 2014

UAE: Hotel apartments in Fairmont Marina Residences, a 39-storey Arabian themed tower in Abu Dhabi, have gone on sale.

Described as Abu Dhabi's answer to Dubai's Atlantis The Palm, Fairmont Marina Residences will feature 249 serviced apartments next to Marina Mall on the Abu Dhabi breakwater

Developed by National Investment Corporation (NIC), the apartments will form part of the 563-room Fairmont Marina Resort, Abu Dhabi, due to open in 2016.

The fully furnished apartments are only available for purchase by UAE nationals, and will will range in size from 100 square metres for a one-bedroom apartment to 300 square metres for a four-bedroom apartment.

Services and features will include an infinity swimming pool, kids' club, fitness centre, business centre, spa, and nine restaurants and lounges.

Owners will be eligible for membership in the invitation-only tier of Fairmont's guest loyalty programme.

"The initial interest in the Fairmont Marina Residences development has been tremendous among Abu Dhabi residents," said a spokesman for NIC. "We anticipate strong demand for these luxury residences."

According to a recent report by Colliers International, the supply of serviced apartments in the UAE has outstripped hotels in recent years, with a compound annual growth rate of 14.3 per cent in the past 10 years, versus a 10.1 per cent growth in number of hotel rooms.

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