TARAF, the real estate division of UAE investment group Yas Holding, and Steppe have signed an agreement with Marriott International to launch JW Marriott Residences Abu Dhabi, Yas Island, the companies said.
The agreement was signed through a joint venture between TARAF and Steppe, an investment firm founded in Singapore in 2010.
The project will be Abu Dhabi’s first JW Marriott Residences, according to Marriott.
The branded residential development will sit directly on the beach on Yas Island, with a golf course alongside it.
The companies did not disclose the value of the project, the number of units, prices or a completion date.
Yas Island is about 15 minutes by road from Zayed International Airport and about 30 minutes from central Abu Dhabi, according to the release.
Planned amenities include a residents’ lounge, a fitness center, steam and sauna facilities, treatment rooms and meeting spaces.
The development will also include a golf simulator, a media room, a children’s activity area and guest suites.
Low Ping, group chief executive of Yas Holding, said the company aims to integrate JW Marriott’s philosophy throughout the design and experience of the project.
Jaidev Menezes, regional vice president for mixed-use development in Europe, the Middle East and Africa at Marriott International, said the project is the company’s second collaboration with TARAF.
The first was W Residences Abu Dhabi on Al Maryah Island, which Menezes said has sold out.
Cem Habib, a board member at Steppe Capital, said the site combines the waterfront and the golf course with access to the rest of the island.
TARAF has residential communities, waterfront projects and branded residences in Abu Dhabi and Dubai.
Steppe invests across public and private markets. It has expanded into commercial and residential property in Asia, Europe and the Middle East.
