Aldar leases 1,300 units of The Gate, Arc Towers

Aldar Properties on Sunday announced that The Gate and Arc Towers on Al Reem Island are fully leased after being on the market for just under a year, highlighting increasing demand for residential property in the capital.

The Gate and Arc Towers development located in the landmark district of Shams Abu Dhabi are made up of 3,533 units, of which Aldar retained over 1,300 units as part of its recurring-income portfolio. The Arc comprise of studios, one and two bedroom apartments with its unique arc-like design.

Earlier this year, Aldar also fully leased its Al Rayanna residential gated community, located next to Abu Dhabi Golf Club, after six months on the market.

Mohammed Al Mubarak, Chief Executive Officer at Aldar Properties, said: “Reaching full occupancy a year ahead of schedule is a testament to the quality of The Gate and Arc Towers development and Aldar’s ability to meet the demands of the market for quality residential property. The Shams Abu Dhabi area is one of the most sought-after communities in the capital, providing residents with modern accommodation and amenities in a popular district. Leasing activity has been very strong this year with bulk and end-users tenants, helping to strengthen our recurring income portfolio.”

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