JUBAIL ISLAND ANNOUNCES SIGNIFICANT ACHIEVEMENT FOR THE ISLAND WITH THE FIRST TITLE DEED HANDED OVER TO NEW OWNER

• Mounir Haidar, Managing Partner of LEAD Development congratulates the first official owner on receiving the handover title deed for their land plot on Jubail Island
• The milestone was celebrated with an official handover ceremony, that marks the first of 112 private land plots that are ready for handover, which will allow plot owners to begin developing their mansions, and marks the first phase of the residential handover

Abu Dhabi, 12 March 2023

Jubail Island, the 12 AED billion master-planned development with over 30km of pristine waterfront is today celebrating its first official residential handover to take place on the island since the masterplan was first announced in 2020. The moment was marked with an official handover ceremony led by Mounir Haidar, Managing Partner of LEAD Development, and in the presence of Engineer Abdulla Saeed Al Shamsi, Corporate Director for Jubail Island Investment Company.

The handover signifies the first of 112 private land plots ready for their owners to take possession, underscoring LEAD Development’s commitment to finishing the project on time.

Following the completion of major infrastructure works and the energization of the electrical substations supplying power to key residential areas, LEAD Development has invited buyers to come and receive their title deeds, after which they can start developing their mansions on plots ranging from 2,000 sqm to 35,000 sqm, where they’ll be able to enjoy picturesque water views with frontages ranging from 35 to 120 meters.

The plot owners have been working closely with LEAD Development to finalise their private residential designs. While work begins on constructing private mansions, LEAD Development will be working to landscape the project’s public spaces and complete the construction of villas in time to meet the next tranche of property handovers scheduled for September 2023.

The masterplan for Jubail Island was designed to maximize the island’s natural beauty and ecological diversity while providing world-class amenities and infrastructure to support a thriving community, it is a large-scale development, and work on the island has been ongoing since the project was first announced.

The master plan includes several world-class amenities, including the town centre, a marina with a members-only yacht-club, a beach club, multiple gyms, up to 1 million sqm of parks and open spaces, and various retail and dining options. These amenities are designed to create a luxurious and sophisticated destination that attracts residents and visitors worldwide.

Commenting on this project milestone, Mounir Haidar, Managing Partner of LEAD Development, said: “We are delighted to have reached this very significant milestone with handing over 112 plots to owners. Now that the necessary infrastructure work is completed, we are excited to see the array of submitted and approved blueprints come to life and the first independently designed mansions on Jubail Island take shape.”

“The first residential handover is another tangible sign that we are on track to deliver the project on time, and further proves that construction continues in earnest across the entire project. We are aiming the next phase of handovers for Q4 2023 which will mark another chapter in our ongoing story of creating the region’s premier community. I want to thank the Abu Dhabi Government for their unwavering support of Jubail Island, as well as the LEAD Development team, our partners and investors who have all had unmatched faith in the Abu Dhabi real estate market, as well as contributed to the growth of this incredible development.”