Abu Dhabi: Construction of a high-rise residential building within Abu Dhabi’s Capital Centre development is now complete.
Capital House, located opposite the Abu Dhabi National Exhibition Centre (ADNEC), is a 93.45m, 30-floor residential tower containing 332 one- and two-bedroom apartments along with amenities such as a swimming pool, gym, children’s play area and five retail units on the ground floor.
It is a key asset, along with Grade A office block International Tower, held in the IndustRE Development Fund, a closed $300mn real estate development fund managed by SinoGulf and their partners Eastgate Capital Group, with a combined investment value approaching AED1.5bn ($408mn).
David Cockerton, fund manager at SinoGulf Real Estate Investments, said he was confident Capital House would be embraced by the market.
“I have personally gone into every single recently constructed and recently launched residential building in Abu Dhabi over the last eight to 11 months,” he said. “I’ve done that so we know that the various design decisions taken at Capital House will be well received by the marketplace.”
Foundations were cast in April 2012 and the structure topped out 13 months later. The project peaked from around the time the last slabs were cast up until February of this year, with between 1,000-1,300 labourers on site daily.