Edra for Emirates has been appointed by Bloom Holding, a prominent real estate development company, as the first contractor for the foundation work of Bloom Living, its completely integrated residential community in Abu Dhabi.
A significant step forward in the construction of Bloom Living will be achieved when the contractor begins work in September, just before the second phase of the community is launched.
Phase one of the AED9 billion ($2.5 billion) project, Cordoba, completely sold out when it debuted on the market in March of this year. This completion date of Q4 2024 is still on schedule for the completion of this project. The contractor for the core of the development is expected to be appointed before the beginning of 2023.
Residential units at Bloom Living can be purchased by buyers from all over the world thanks to the development’s recent designation as an investment zone.
WHAT BLOOM LIVING HAS TO OFFER
More than 4,000 residential units, including a variety of villas, townhouses, and apartments are available at Bloom Living. These are to be constructed across a 2.2 million square meter area to meet the individual demands of residents regardless of the generation that are part of.
The architecture of Bloom Living draws its rustic aesthetic from the Mediterranean and flawlessly combines traditional Spanish design with modern finishings. Equally, the gated neighborhood is near the Abu Dhabi International Airport and is situated in Zayed City.
The CEO of Bloom Holding, Carlos Wakim, conveys how Bloom is committed to offering UAE citizens and residents a variety of real estate services that specifically address their changing demands while upholding the high standards of excellence that the Bloom brand has strong associations with.
THE BROADER PICTURE IN THE UAE
Investments into the UAE real estate sector are expected to reach more than AED300 billion by the end of the year. This intense volume of transactions is unlikely to taper off any time soon given the introduction of extra transaction reporting requirements in the UAE’S real estate market, but also property advertising restrictions in Dubai. These initiatives are helping to create a strong, secure, and safe UAE real estate environment, making investors all over the world eager to get a piece of the pie.
