Cosmo launches $1.6bn The Wadi mixed-use development on Yas Island

Cosmo Developments has launched The Wadi, a major mixed-use waterfront development on Yas Island in Abu Dhabi with an estimated investment value of AED6 billion ($1.63 billion). The development is being undertaken by Cosmo, a joint venture between Abu Dhabi-based Flag Holding Group and Reportage Group.

The project will occupy approximately 140,700 sq m along Yas Canal and is planned to contain around 3,950 residential units, together with commercial, leisure and sports facilities and a hotel. The masterplan also includes a yacht marina, waterfront areas, landscaped public spaces, restaurants, retail, gyms, spa facilities and other community infrastructure.

The scale and mixed-use nature of the scheme should generate substantial downstream opportunities across construction, infrastructure, MEP, façades, landscaping, hospitality fit-out, marina works and specialist building systems as individual packages move into procurement.

Sources: Cosmo Developments, Reportage Group, Saudi Gulf Projects, TradeArabia.