Zaya Real Estate

Property and real estate developers in Dubai, Abu Dhabi, RAK, and other UAE emirates.
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Zaya Real Estate

Postby shawarma » 26 Sep 2008, 17:57

Zaya Real Estate Development LLC is an Abu Dhabi based developer with the Nurai Islands project in their portfolio. And nothing else so far. But then, when you look at the specs for Nurai, they probably don't need anything else to stand out just yet. CEO and co-founder is Nadia Zaal. Zaya is a joint venture between Tasameem Real Estate and Assas Real Estate according to press releases, with a combined portfolio of more than $15 billion (AED 55 billion). Perhaps they mean Asas Real Estate, a subsidiary of Sharjah Islamic Bank (SIB), and Tasameem the property subsidiary of the Abu Dhabi Investment Authority (ADIA). The ADIA is rumoured to have assets of somewhere in the vicinity of $1 trillion (no, that's not a typo), so that's a fairly significant backer. Assuming there aren't several different Tasameems out there. There are several Asas / Assass property companies though (don't say that out loud too quickly) - so far I've found the SIB one in the UAE, one in Saudi Arabia, one in Qatar, one in Egypt, and one in Tanzania.

Nurai Island is a Dh3 billion project on an island 4km offshore from Saadiyat Island (the one with the Louvre and Guggenheim). Nurai will have 31 beachfront shacks ... er estates, and 50 water villas. Sales launched in May 2008, prices were or are AED 35m to AED 110m. Cough cough. But you do get a 500 sq m property if you buy a villa, or a 3000-6000 sq m estate down on the beach. A "luxury development" may actually be a fairly accurate description in this case. If you can't afford your own shed on the island, there will be a 60 room resort also - only $3,500 - $5,000 per night for a room (AED 12,850 - 18,350).

Second phase of Nurai Islands development will be released at Cityscape Dubai 2008. Nurai / Zaya stand number RJ10 in Sheikh Rashid Hall.

Zaya Real Estate Development contact details
Zaya Real Estate office is in Al Muhairy Center in Abu Dhabi?
PO Box 94278, Abu Dhabi, UAE
tel +971-2-6655278 (from ADCCI, not confirmed). Nurai Islands tel +971-2-6354770.
Email info at zaya.com
Website http://www.zaya.com - hopefully their properties aren't going to be built by the same company that did their website, or you'll be worried about getting a smack in the head every time you approach your front door.
Please use the forum for questions, not the PM system.
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