Monday, April 17, 2017

Aldar launches $354m Abu Dhabi residential project

Aldar Properties, a leading property developer in Abu Dhabi, UAE, has announced the launch of The Bridges - a 1,272 unit  mid-market residential development to be built at a cost of Dh1.3 billion ($354 million) - on Reem Island in the UAE capital.

Capitalising on the demand for this type of product, Aldar will release one tower for sale, at Cityscape Abu Dhabi.

The prices start from Dh450,000 ($122,482), with eight different unit types including studios, one-, two-, and three-bedroom apartments, said a statement from the Emirati developer.

Underlining the company’s confidence in the growing mid-market segment, three towers, comprising 636 homes, will be incorporated into Aldar’s leased residential portfolio as part of its investment programme announced last month, it stated.

The Bridges’ two plots, each containing three towers, are separated by the new 2.4-km canal that runs through Reem Island, it added.

CEO Mohamed Khalifa Al Mubarak said: "We have launched The Bridges in order to cater to the significant demand for high quality, yet affordable homes in prime investment zone destinations across Abu Dhabi."

"Set alongside the new Reem Island canal and featuring a wide range of amenities, and situated close to Abu Dhabi’s business and cultural districts, The Bridges will appeal to both investors and owner occupiers," noted Al Mubarak.

The Bridges embodies the ideal balance between community and city living, and is situated next to the new public park which will be unveiled at Cityscape.

Aldar will be giving prospective buyers the opportunity to view the masterplan, floorplans and purchase their unit at the upcoming Cityscape Abu Dhabi.

"Residents will enjoy stunning views of green parks and amenities which include two indoor ‘his and hers’ gymnasiums; a spacious private courtyard with adult’s and children’s pools; and an outdoor fitness area," said Al Mubarak.

Construction is expected to begin in the fourth quarter and the project will be ready for handover during the first quarter of 2020, he added.-TradeArabia News Service

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