Wednesday, September 27, 2017

Aldar unveils major Yas Island developments

Aldar, a leading UAE-based property development company, is set to showcase its upcoming developments such as the riverfront project, the Water’s Edge, on Yas Island at The Restatex Cityscape Riyadh expo which opened today (September 27).

A major industry event in the region, Restatex Cityscape will run till September 30 at the Riyadh International Convention & Exhibition Center.

During the event, Aldar will put spotllight on Abu Dhabi’s burgeoning real estate market, and the group's market-leading role in the rapidly growing industry, said a statement from the company.
 
The developer had recently sold out the initial phase of Water’s Edge at Cityscape Global in Dubai, generating Dh400 million ($109 million) in sales, with further homes to be launched in subsequent phases for sale soon. Buyers were attracted by both the potential for yields of 8 per cent as well as the opportunity to live on Yas Island.
 
A major waterfront property, Water’s Edge features 2,255 apartments, ranging from studios to three-bedroom units. Situated on Yas Island’s eastern shores, the majority of units have full or partial views over water.

Residents will get to enjoy Water’s Edge’s wide choice of exercise and recreation facilities, retail, restaurants and cafes, in addition to Yas Island’s abundant attractions.

The construction is expected to start in the fourth quarter and the project will likely be delivered in 2020.

Aldar pointed out that Abu Dhabi’s position as a global destination of choice was well-established; the city was named the second-best city in the world to live, work and do business in the latest Ipsos City Index, and was ranked as the third fastest-growing destination in Mastercard’s Global Cities Index Report in January.
 
The UAE capital also boasts some of the country's most iconic attractions and events, many of which are on Yas Island, the emirate’s most exciting destination, including Ferrari World Abu Dhabi and the Formula 1 Grand Prix, it added.

Among Yas Island’s other residential developments is Yas Acres, an Dh6 billion ($1.63 billion) golf and waterfront development with 1,315 villas, whose residents will enjoy access to a golf course and club house, parks, schools and vibrant waterfront, when complete in 2019.

Another of its big projects is Mayan, a luxury golf and waterfront development comprising studio to four-bedroom apartments and beachfront villas with superb amenities set alongside the Yas Links Golf Club and the exclusive Yas beach on Yas Island.

Chief development officer Talal Al Dhiyebi pointed out that Aldar was proud of its role in Abu Dhabi’s ongoing evolution, providing high quality real estate developments in key locations around the emirate.

"The success of Aldar’s approach has been underlined by strong sales in its destinations and across different customer segments – whether mid-market or luxury – from an increasingly diverse customer base. Our most recent project, Water’s Edge, which sold out of its initial phase in under two days, appealed to investors after a high-yielding project and owner-occupiers looking to make Yas Island their home," he stated.

"Saudi Arabia has become an increasingly important market for us, and we look forward to engaging with Saudi investors at Restatex Cityscape Riyadh," he added.-TradeArabia News Service



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