{"id":24627,"date":"2016-09-01T20:20:14","date_gmt":"2016-09-01T13:20:14","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=24627"},"modified":"2016-09-01T18:40:52","modified_gmt":"2016-09-01T11:40:52","slug":"farglory-resumes-1bn-al-maryah-project-in-abu-dhabi","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/farglory-resumes-1bn-al-maryah-project-in-abu-dhabi\/","title":{"rendered":"Farglory resumes $1bn Al Maryah project in Abu Dhabi"},"content":{"rendered":"


\nFarglory Land has resumed work on a delayed US$1 billion real estate project in Abu Dhabi and now expects to complete the development’s first phase in 2018, two years later than originally planned, a senior company executive said on Thursday.The resumption of the project at Al Maryah island comes as Abu Dhabi invests billions of dollars in tourism, real estate and industry to diversify its economy away from an oil industry hit by a protracted drop in crude prices.Developer Farglory Land, part of Taiwanese conglomerate Farglory Group, first announced the luxurious residential project in Abu Dhabi’s financial free zone in 2013, saying the first phase would be ready by 2016.However, prices in Abu Dhabi’s property sector have since fluctuated significantly, first jumping steeply before retreating as the fall in oil prices hit government spending and forced thousands of layoffs at the emirate’s state-owned businesses and oil companies.”The delay was because of global volatility. As developers, we had to see market sentiment,” Jack Hu, the managing director of Farglory Middle East said.”We looked at the market carefully and have now repositioned the product mix.”The project will now comprise four towers with a mix of residential and commercial space. The first project will be a 29-storey residential complex. The UAE-based Al Fara’a is the main contractor for the project.About 10 per cent of the 220 apartments have been sold, with nearly half the buyers coming from Gulf countries, Mr Hu said.The remaining phases are scheduled for completion in 2022, depending on market conditions.”We are taking a long-term view of Al Maryah island, it is the future of Abu Dhabi, the economic generator as Abu Dhabi diversifies into a non-oil economy,” Mr Hu said.business@thenational.aeFollow The National’s Business section on Twitter
\n
\nSource : thenational.ae
\nRead more…Farglory resumes bn Al Maryah project in Abu Dhabi<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Farglory Land has resumed work on a delayed US$1 billion real estate project in Abu...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-24627","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-6pd","jetpack-related-posts":[{"id":10342,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mubadala-ramps-up-leasing-of-office-space-at-al-maryah\/","url_meta":{"origin":24627,"position":0},"title":"Mubadala ramps up leasing of office space at Al Maryah","date":"April 10, 2016","format":false,"excerpt":"\r \r Mubadala Real Estate is to restart a search for tenants at Abu Dhabi's largest new office development, two years after leasing activity was put on hold. The Abu Dhabi-based fund said on Sunday that it would be marketing the remaining vacant office space at its 180,000 square metres\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":157989,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/mubadala-begins-construction-of-abu-dhabi-al-maryah-waterfront-enhancement-project\/","url_meta":{"origin":24627,"position":1},"title":"Mubadala begins construction of Abu Dhabi Al Maryah Waterfront enhancement project","date":"July 21, 2025","format":false,"excerpt":"\r Abu Dhabi's Al Maryah Island will feature a 30-metre luminous sphere and AI-Powered water features\r \r Source : arabianbusiness.com\r Read more...Mubadala begins construction of Abu Dhabi Al Maryah Waterfront enhancement project","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2025\/07\/Mubadala-breaks-ground-on-landmark-Al-Maryah-Island-Waterfront-transformation-1000x667-1.jpg?fit=1000%2C667&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":158391,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/abu-dhabi-expands-driverless-taxi-services-to-al-reem-al-maryah-islands\/","url_meta":{"origin":24627,"position":2},"title":"Abu Dhabi expands driverless taxi services to Al Reem, Al Maryah Islands","date":"July 29, 2025","format":false,"excerpt":"\r With this expansion, autonomous taxi services now cover approximately half of Abu Dhabi's core areas\r \r Source : arabianbusiness.com\r Read more...Abu Dhabi expands driverless taxi services to Al Reem, Al Maryah Islands","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i2.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2025\/07\/Abu-Dhabi-Strengthens-AV-Rollout-1000x667-1.jpg?fit=1000%2C667&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":11440,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/the-future-of-abu-dhabis-al-maryah-central-in-pictures\/","url_meta":{"origin":24627,"position":3},"title":"The future of Abu Dhabi's Al Maryah Central – in pictures","date":"April 27, 2016","format":false,"excerpt":"\r Al Maryah Central is said to be the new shopping, dining and entertainment destination that is changing the face - and the cultural heart - of downtown Abu Dhabi. Take a look around.\r \r Source : thenational.ae\r Read more...The future of Abu Dhabi's Al Maryah Central - in pictures","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":52011,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/eshraq-and-mubadala-team-up-for-abu-dhabi-plot-developments\/","url_meta":{"origin":24627,"position":4},"title":"Eshraq and Mubadala team up for Abu Dhabi plot developments","date":"April 16, 2017","format":false,"excerpt":"\r Eshraq Properties and Mubadala Development Company are teaming up to develop plots on Abu Dhabi's Reem and Al Maryah Islands.Eshraq said in a filing that the joint venture company would develop land plots in Abu Dhabi owned by Mubadala on Al Maryah Island and by Eshraq Properties on nearby\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":8344,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/reem-mall-progresses-in-abu-dhabi-as-800m-loan-moves-nearer\/","url_meta":{"origin":24627,"position":5},"title":"Reem Mall progresses in Abu Dhabi as $800m loan moves nearer","date":"March 18, 2016","format":false,"excerpt":"\r \r Agility, the Gulf's largest logistics company, has said that it is in the final stages of securing US$800 million in bank loans to invest in building Abu Dhabi's latest mega mall.Kuwait-traded Agility last year revived dormant plans to build Reem Mall, a planned 2.8 million square feet shopping\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/24627"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=24627"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/24627\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=24627"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=24627"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=24627"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}