Eshraq Investments, formerly known as Eshraq Properties and one of the leading Abu Dhabi-based real estate developer, announced that it has now reached the sixth floor in the construction of Marina Rise tower, indicating a 19% completion of the project.
Situated in an excellent location in Reem Island in Abu Dhabi, Marina Rise is a 110 meters high tower that consists of 29 stories including two for basement, two for car parking spaces, 24 for residential units plus the roof floor. In total, Marina Rise comprises 233 units that include 84 studio apartments, 116 one-bedroom apartments, 27 two-bedroom apartments, and 6 three-bedroom apartments.
The tower’s construction progress was announced during the ceremony where Eshraq unveiled its new corporate identity, renaming itself as Eshraq Investments.
In his comment on Marina Rise progress and the new corporate identity announcement, Jassim Alseddiqi, the chairman of Eshraq Investment, explained that renaming the entity was crucial to better fit with the business goals and objectives. Alseddiqi added that Eshraq as a business has been changing over the years which called for a change in its brand and corporate identity as well.
Marina Rise Tower is due for completion within the second quarter of 2020.