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A general view shows the headquarters of Aldar Properties at Al Raha Beach in Abu Dhabi. Ben Job, Reuters
UAE real estate developer Aldar Properties raised 1.1 billion UAE dirhams ($300 million) in sales as it sold out its latest Yas Island project, Yas Park Gate.
The new community development, which features town homes and standalone villas, attracted buyers from the UAE and overseas, Aldar said in a statement on Monday.
The bulk of the units (85%) were snapped up by Emirati customers, while non-resident buyers and expatriates in the UAE accounted for the rest of the sales, at 10% and 5%, respectively. Nearly half (49%) of the buyers were under the age of 40, while women accounted for more than a third (34%) of the buyers.
“The strong response to Yas Park Gate from both resident buyers and local and international investors is a testament to the continued appetite to live and invest in Yas Island’s communities,” said Rashed Al Omaira, Chief Commercial Officer at Aldar Development.
(Writing by Cleofe Maceda; editing by Mily Chakrabarty)
