State-run investment vehicle Mubadala Real Estate is working on early designs and feasibility studies for three more major buildings on its Sowwah Island development in Abu Dhabi
The planned buildings are two high-rise towers, known as the Central Plaza, and a hotel.
The towers will be the tallest on Sowwah Island, at up to 65 storeys in height.
Mubadala Real Estate, a sub-sidiary of Abu Dhabi sovereign wealth fund Mubadala Development Company, is seeking to build the hotel on the southern shore of the island overlooking the channel between Sowwah and the Mina Zayed area of Abu Dhabi Island.
John Thomas, executive director of Mubadala Real Estate, says the tender will follow design work, which is expected to be completed by the middle of next year.
Contractors are already working on Sowwah Island for Mubadala. Oger Abu Dhabi, the local affiliate of Saudi Oger, is working on the Sowwah Square development, which includes a new headquarters for the Abu Dhabi Securities Exchange and a series of office towers.
Mubadala is also planning to start work early next year on the MGM Grand entertainment complex in the Mina Zayed area of Abu Dhabi once design work has been completed.
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