Investor alert: Aldar launches new projects worth Dh5bn

Aldar Properties, Abu Dhabi's leading listed property company, today launched three major new residential developments in prime areas of Abu Dhabi, including in investment zones where property can be purchased by non-UAE nationals, the firm said in a statement to the Abu Dhabi Exchange.

Off-plan sales for the three developments – Ansam, Al Hadeel and Nareel Island – will commence in May and construction is scheduled to begin in 2015, the master developer noted. The three developments have a combined gross development value of approximately Dh5 billion.

Ansam, the first phase of which comprises 540 golf fairway apartment units, will overlook the Yas Links Golf Course on Yas Island. Yas Island hosts Abu Dhabi’s Yas Marina Formula One circuit, Yas Waterworld, the Ferrari World theme park and the soon-to-be-opened Yas Mall.

The second development is Al Hadeel at Al Bandar, on the Al Raha Beach Waterfront, offering 230 apartment and townhouse units. The third project is on Nareel Island where the master developer will be offering a premier lifestyle residential waterfront master-planned development, comprising 143 villa plots to UAE nationals only. The island is close to the Al Bateen area of central Abu Dhabi.

“Following the successful completion of the integration process after the Aldar-Sorouh merger, we have focused all of our efforts on the implementation of our strategy,” said Abubaker Seddiq Al Khoori, Chairman of Aldar Properties.

“We are currently exploring 23 exciting real estate developments, excluding government projects, three of which have been announced today as part of the next phase of growth of our business. All our future developments will be carefully developed in line with market demand in Abu Dhabi. This exciting pipeline of real estate developments showcases our ability to monetise our land bank to increase cash flows, grow our recurring revenues and create value for our shareholders.”

Mohamed Al Mubarak, Deputy Chief Executive and Chief Portfolio Management Officer of Aldar Properties, added: “With leasing and sales activity in Abu Dhabi picking up significantly in the last year, this is the right time for Aldar to embark on the next phase of development, with the launch of well-designed projects that respond closely to end-user demand and support the emirate’s economic progress. We therefore expect these developments to be popular among Abu Dhabi residents and long-term investors.”

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