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Aldar Properties Launches AED 1.7 Billion Residential Development For Emiratis

Infra News - Published on Tue, 18 Jun 2019

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Aldar Properties, Abu Dhabi’s biggest listed developer, launched a AED 1.7 billion residential project. It is the developer’s third this year, featuring plot sales to tap demand for land in the capital’s property market. Alreeman II in Al Shamkha will be available for purchase to Emiratis only. The project follows the success of Alreeman, launched in January, which generated AED 1.6 billion in sales. Aldar is offering about 1,700 plots to investors in Alreeman II, ranging from 500 square metres to 1,000 square metres. The developer will begin selling the plots in the third week of June. Prices range from AED 690,000 to AED 1.2 million.

Mr Rashed Al Omaira, director of sales and development, said that Aldar expects sales to equal the AED 1.7 billion gross development cost of the project.

Mr Maan Al Awlaqi, Aldar’s executive director of commercial said that “We continue to be very optimistic about Abu Dhabi’s property market. We are continuously assessing what we need to release, there is certainly pent up demand for plots of land.”

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Posted By : Mohan Sharma on Tue, 18 Jun 2019
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