A luxury resort set alongside Abu Dhabi's lush mangroves is set to open its doors to guests in the next three months.
The Eastern Mangroves resort, a hotel and residential complex, is to start opening in phases from June, its developer said yesterday.
The first part to launch will be the five-star Eastern Mangroves Hotel & Spa, which is being managed by the Thai operator Anantara.
This is due to be followed by the first phase of the residential element in August, and the remaining homes, a 30-berth marina, and a retail area with restaurants, by the end of the year.
"We believe this is set to become a major hospitality and residential destination in Abu Dhabi," said Nabil Al Kendi, the chief development officer at the Tourism and Development Investment Company (TDIC). The development is located along Al Salam Street and backs on to the mangroves.
The plan is to lease all the homes rather than sell them, although the situation would be evaluated depending on demand, said TDIC, which plans to start leasing homes this month. Rents are expected to start from about Dh80,000 (US$21,780) a year for a studio.
"You cannot compare it to anything else available in the market today," said Bassem Terkawi, the senior director of strategic communications at TDIC.
"We want to see what the market response is. If we receive demand from people who want to buy, we may consider that. We believe there is a big appetite for high-end residential offering in the city."
The residential component is made up of 50 residences and 170 flats. The 222-room hotel, when it opens in June, will join a host of luxury properties that have opened in Abu Dhabi recently, including the Jumeirah at Etihad Towers, a Rocco Forte hotel, and the Park Hyatt resort on Saadiyat Island.
But the management remains confident despite the competition.
"I'm not concerned at all," said Michel Koopman, the general manager of the Eastern Mangroves& Spa and the director of operations Middle East for Anantara Hotels, Resorts & Spas.
The hotel was originally planned to open under Banyan Tree's Angsana brand, but Banyan Tree and TDIC said last April they had reached an amicable mutual agreement to cancel the management contract for the resort. Banyan Tree said it had wanted the project to be more of an "eco-resort". Anantara announced in June that it was taking over the management contract. It will have about 220 employees when it opens.
Anantara already manages two resorts in Abu Dhabi for TDIC: the Qasr Al Sarab desert resort in the Western Region; and the Desert Islands Resort & Spa on Sir Bani Yas Island.
rbundhun@thenational.ae
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LAST 16
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The bio
Favourite book: Peter Rabbit. I used to read it to my three children and still read it myself. If I am feeling down it brings back good memories.
Best thing about your job: Getting to help people. My mum always told me never to pass up an opportunity to do a good deed.
Best part of life in the UAE: The weather. The constant sunshine is amazing and there is always something to do, you have so many options when it comes to how to spend your day.
Favourite holiday destination: Malaysia. I went there for my honeymoon and ended up volunteering to teach local children for a few hours each day. It is such a special place and I plan to retire there one day.
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Founders: Michele Ferrario, Nino Ulsamer and Freddy Lim
Started: established in 2016 and launched in July 2017
Based: Singapore, with offices in the UAE, Malaysia, Hong Kong, Thailand
Sector: FinTech, wealth management
Initial investment: $500,000 in seed round 1 in 2016; $2.2m in seed round 2 in 2017; $5m in series A round in 2018; $12m in series B round in 2019; $16m in series C round in 2020 and $25m in series D round in 2021
Current staff: more than 160 employees
Stage: series D
Investors: EightRoads Ventures, Square Peg Capital, Sequoia Capital India
