Latest news with #ReemIsland
Trade Arabia
25-05-2025
- Business
- Trade Arabia
Modon's first freehold residential towers project fully sold out
Modon Holding, an Abu Dhabi-based holding company, has announced the complete sell-out of Muheira, a high-end freehold residential community located on Reem Island, on the day of launch. Strong interest in the collection of one- to three-bedroom apartments, which seamlessly blend style and comfort, reflects the success of Modon's visionary approach to transforming urban landscapes through impeccably designed homes, said the company in a statement. The sale of 475 apartments generated approximately AED1 billion ($272 million). Muheira will be an ideal living destination for young professionals, couples and growing families that fosters a healthy and active lifestyle, comprising two towers set in one of the city's most desirable locations close to Abu Dhabi Global Market (ADGM). Directly fronting a waterfront promenade with jogging and cycling tracks, as well as outdoor fitness stations, homes at Muheira will offer residents the perfect blend of urban vibrancy and natural beauty, said the statement. Among its amenities, Muheira features an adult pool and a shaded children's pool on the podium level, while the rooftop boasts an outdoor pool and terrace with breathtaking views, it added. On the solid response, Group CEO Bill O'Regan said: "Muheira's complete sell-out is the latest in a series of market defining launches for Modon, demonstrating our expertise in anticipating evolving customer needs, while shaping the cities in which we operate." "We look forward to building on this success as we continue to lay the foundations for a new era of intelligent, connected living," he stated. Modon Real Estate CEO Ibrahim Al Maghribi said: "The sell-out of Muheira marks yet another successful launch for Modon. Strong interest in the properties available shows the confidence buyers and investors have in the quality of our offering, and in our commitment to building vibrant communities that people are proud to call home."
The National
23-05-2025
- Business
- The National
Abu Dhabi's Modon Holding sells out Reem Island project for $272m on day of launch
Modon Holding, an Abu Dhabi-based listed company, has generated about Dh1 billion ($272.3 million) by selling out its freehold residential project on Reem Island on the day of its launch, amid strong property demand in the UAE. The developer registered 'strong interest' for Muheira, a collection of 475 one to three-bedroom apartments in two towers, close to Abu Dhabi financial free zone ADGM, it said in a statement on Friday. Prices for the units started from Dh1.2 million. The Muheira towers will be located along a waterfront promenade and include jogging and cycling tracks, as well as outdoor fitness stations, among other amenities, the developer said. Ibrahim Al Maghribi, chief executive of Modon Real Estate, said the strong interest in the properties demonstrated buyer and investor confidence. There has been a boom in the UAE property sector on the back of government initiatives, such as residency permits for retired people and remote workers, and strong economic growth, boosted by non-oil diversification. The influx of wealthy people to the Emirates is also supporting the property market. Last year, 7,200 millionaires arrived in the UAE, building on an influx of 4,700 in 2023 and 5,200 in 2022, property consultancy Knight Frank said in a report. The total number of dollar millionaires in the UAE stood at 130,500 at the end of December, ranking the Emirates as the 14th-largest wealth market. Residential property sale prices in Abu Dhabi rose by 11 per cent annually last year amid higher demand and a supply shortage in the emirate, according to a March report by real estate company Cushman & Wakefield Core. Modon Holding was created in March 2024 following the merger of Q Holding, Modon Properties and Adnec Group, a move aimed at expanding its market presence in the UAE and internationally. In October last year, Abu Dhabi-based investment and holding company ADQ announced that Modon Holding would serve as the master developer for a megaproject in the Egyptian coastal city of Ras Al Hekma. The development's investment is projected to reach $150 billion. In January, the developer also partnered with Broadgate Reit, owned equally by FTSE 100-listed property developer British Land and global investor GIC, marking its entry into London's prime real estate market. The deal involves a 50-50 joint venture to develop 2 Finsbury Avenue, a 750,000-square-foot, mixed-use project in the Broadgate campus, an office-led site in the heart of London.
Arabian Business
22-05-2025
- Business
- Arabian Business
Abu Dhabi real estate: Modon launches 475-home residential tower on Reem Island
Situated close to Abu Dhabi Global Market (ADGM), Muheira features two residential towers, boasting a collection of 475 one- to three-bedroom apartments. The homes will offer residents convenient access to Reem Island's outdoor recreational areas, sports amenities, modern healthcare facilities, top-tier educational institutions, and a range of retail outlets. Muheira in Abu Dhabi Bill O'Regan, Group CEO at Modon Holding, said: 'The launch of Muheira is aligned with our vision to develop vibrant, future-ready communities that embody the highest standards of living. We are committed to adding sustainable value, creating destinations that enhance residents' overall well-being and lifestyle.' Ibrahim Al Maghribi, CEO of Modon Real Estate, said: 'Muheira is a central part of our strategy to cultivate exceptional urban communities that meet the evolving expectations of both residents and investors. 'Through meticulous planning and contemporary design, we have curated a living experience that reflects next-generation architecture and a full suite of modern lifestyle facilities.'
Zawya
22-05-2025
- Business
- Zawya
Modon unveils Muheira the first Modon freehold residential towers on Reem Island
Boasting a collection of 475 one- to three-bedroom apartments Abu Dhabi, UAE: Modon, the Abu Dhabi-based holding company, has announced the launch of Muheira – a landmark residential community offering exclusive freehold apartments on Reem Island. Situated in one of the city's most desirable locations, close to Abu Dhabi Global Market (ADGM) and in a prestigious waterfront setting, the community offers sweeping panoramic views of the canal and the iconic Reem Island skyline. Muheira features two elegant residential towers, boasting a collection of 475 one- to three-bedroom apartments. The homes will offer residents convenient access to Reem Island's outstanding outdoor recreational areas, sports amenities, modern healthcare facilities, top-tier educational institutions, and a range of retail outlets. Bill O'Regan, Group CEO at Modon Holding, said: 'The launch of Muheira is aligned with our vision to develop vibrant, future-ready communities that embody the highest standards of living. We are committed to adding sustainable value, creating destinations that enhance residents' overall well-being and lifestyle.' Ibrahim Al Maghribi, CEO of Modon Real Estate, added: 'Muheira is a central part of our strategy to cultivate exceptional urban communities that meet the evolving expectations of both residents and investors. Through meticulous planning and contemporary design, we have curated a living experience that reflects next-generation architecture and a full suite of modern lifestyle facilities.' Sales of Muheira are open to all nationalities, with prices starting from AED 1.2 million. Prospective buyers and investors can visit or call 800 MODON. About Modon Modon is an international holding company, headquartered in Abu Dhabi, United Arab Emirates. We are at the forefront of urban innovation, creating iconic designs and experiences that continually surpass expectations. Our primary business sectors include real estate, hospitality, asset management, investments, events, and tourism. Our goal is to deliver long-term, sustainable value, laying the foundations for intelligent, connected living. Media Enquiries
