Aldar Properties launched its first of 23 developmental projects, of which is a new residential building in the capital. This undertaking worth $1.36 billion (AED 5b) is first of the 23 real estate projects set by the Abu Dhabi developer.
As announced by the firm’s CEO, the first project includes 3 residential structures. “Ansam” development will undergo stages of construction primary to 540 apartments overlooking Yas Links Golf Course on Yas Island, “Al Hadeel” will be at Al Bandar on the popular Al Raha Beach Waterfront with 230 apartments and townhouses and another one will be located on Nareel Island, close to the centre of the Emirate.
By next month, off-plan sales will begin and by 2015, the construction works will be initiated. “This new developments will offer a premier lifestyle residential waterfront master-planned development”, Aldar said. These residential projects were in well-established locations that already had high demand, the company added.
Off-plan sales for the three developments will start in May and construction is scheduled to begin in 2015.
Another 20 real estate developments excluding government projects are on planned and soon to announce the schedule of formation.