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Modon Holding PSC — Capital/Financing Update 2024
Oct 29, 2024
66570_rns_2024-10-30_678769c1-f390-497f-8b4a-24922741cf65.pdf
Capital/Financing Update
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Press Release
Modon sells out phase one of Maysan, a newly launched freehold development on Reem Island, within a few hours
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The first phase of the project features two districts: Mayar and Thoraya
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Mayar will bring unique stacked maisonettes to Abu Dhabi for the first time
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Thoraya will address the high demand for townhouses in Abu Dhabi
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Phase one available to buyers of all nationalities
Abu Dhabi, UAE; 30 October 2024: Modon has announced complete sell-out of phase one of its high-end freehold residential development Maysan within the same day of launch. Located on Reem Island, the development is available to buyers of all nationalities. Blending innovation and creativity, the overall design of the over-600,000-square-metre project is inspired by boutique-style inside/outside living.
The keen interest in the properties, including 132 stacked maisonettes and 185 townhouses, demonstrates strong investor confidence in this unique value proposition that testifies to the superior quality of projects delivered by Modon.
Bill O’Regan, Group CEO of Modon Holding , said: “At Modon, we are on mission to build vibrant communities across Abu Dhabi and positioning the UAE capital as one of the world’s best places to live, invest and work. With Maysan, we seek to reimagine urban living and address gaps in the property market in the heart of the city.”
Targeting a diverse range of consumer segments in the UAE capital, including families, professionals, investors and expats, Maysan will feature curated lifestyle amenities, a community centre as well as beach and park access. Once completed, the development will comprise six distinct residential districts with spacious homes ranging from three- to fivebedroom units. Connected through a walkable green spine, the exclusive holistic living destination will promote wellness and a healthy lifestyle.
Ibrahim Al Maghribi, CEO of Modon Real Estate, said : “We are proud to see the high demand for phase one of the development, that brings brand-new residential offerings into the mix. Maysan is set to become a vibrant community that caters to a diverse range of residents, offering unparalleled lifestyle amenities and fostering a healthy, holistic living environment.”
Phase one of Maysan consists of two districts – Mayar and Thoraya. Offering the convenience of apartment living in a resort-style development, Mayar will bring maisonettes to Abu Dhabi for the first time, nestled within a secure gated community boasting a spacious park, perfect for leisurely strolls. Meanwhile, Thoraya will feature architecturally stunning townhouses, communal gardens, children’s play areas and a gym, all guarded by a private entrance, providing a perfect mix of relaxation and recreation while celebrating the beauty of nature.
To register interest in the next phases of Maysan, prospective investors can visit www.modon.com or call 800 MODON.
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أبوظبي، اإلمارات العربية المتحدة ١١١٨٤ .، شارع الشيخ زايد بن سلطان، مجمع .الوزارات، ص. ب مدن القابضة ش.م.خ Modon Holding P.S.C , Sheikh Zayed Bin Sultan St, Ministries Complex, P.O. Box 48111 Abu Dhabi, UAE T +971 2 699 2222 | E [email protected]
modon.com
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About Modon Holding
Modon develops vibrant communities, unique hospitality and lifestyle experiences, and world-class sports facilities. Based in Abu Dhabi, Modon Holding is a Private Joint Stock company listed on the ADX Growth Market with the shareholding of ADQ and the IHC Group being our majority shareholders. Through a diversified business portfolio in the UAE, we are engaged in strategic investment and innovation on an unrivalled scale, shaping future smart living. Our goal is to deliver long-term, sustainable value, laying the foundations for intelligent, connected living.
Nael Wishah
Investor Relations - Modon [email protected]
Ahmed Abu Shehab
Media Relations – Modon [email protected]
Rawad Khattar
Weber Shandwick [email protected]
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أبوظبي، اإلمارات العربية المتحدة ١١١٨٤ .، شارع الشيخ زايد بن سلطان، مجمع .الوزارات، ص. ب مدن القابضة ش.م.خ Modon Holding P.S.C , Sheikh Zayed Bin Sultan St, Ministries Complex, P.O. Box 48111 Abu Dhabi, UAE T +971 2 699 2222 | E [email protected]
modon.com