Abu Dhabi’s master developer, Aldar Properties, launched a total of 512 eco-friendly homes for the first phase of Sustainable City, Yas Island. This latest project generated AED 1 billion ($270m) in sales, with 76% of the properties purchased by expatriates.
“The success we have seen … is an endorsement of the government’s forward-thinking policies, and is a clear indication that buyers are looking for more sustainable ways of living,” Jonathan Emery, chief executive at Aldar Development, said. The construction of the project will begin on Q2 2023, while the first handover is expected to be on Q4 2025.
Early this month, Aldar shared its comprehensive strategy to decarbonise its business, aiming to be a carbon-neutral company by 2050, in line with the UAE’s net-zero 2050 initiative.
Aldar is also gearing up to launch a dozen new projects this year amid the UAE’s real estate market recovery and will continue to expand its portfolio by looking into more acquisitions. In 2021, Aldar bought a 400,000 square metre plot on Al Marjan Island in Ras Al Khaimah as its first residential development in the emirate, supporting its plans of expansion beyond Abu Dhabi. The leading Abu Dhabi developer also partnered with Mubadala Investment Company to acquire Al Maryah Tower, valued at AED 450 million as well as four prime commercial towers at The Abu Dhabi Global Market on Al Maryah Island, the international financial centre of Abu Dhabi for AED 4.28 billion in value.
Henry Wiltshire International is an exclusive agent for Aldar Properties, specialising in off plan and secondary market, ensuring hassle-free transactions, professional service, backed by our knowledgeable property consultants and experienced administration team for all our clients. To get the latest updates and newest Aldar launches, contact the multiple award winning agency on +971 56 484 3380.