Abu Dhabi, UAE: Aldar Properties PJSC (‘Aldar’) latest development, Lea located on the northern shores of Yas Island has sold out during Cityscape Abu Dhabi generating over AED 400 million in sales.

Offering land plots starting at AED 990,000 and sizes ranging from 405 sqm - 1,800 sqm, and available for purchase by all nationalities, Lea features 238 residential plots in a prime location adjacent to Aldar’s flagship Yas Acres project. Lea boasts parks, promenades, and waterside walkways. In addition to this, residents benefit from all of the amenities within Yas Acres – parks, swimming pools, play areas, bbq and picnic areas, schools, mosques and the Yas Acres full length nine hole golf course.

This most recent sell out follows the successful launch of Alreeman, a land plot masterplan located close to Abu Dhabi Airport, which generated AED 1.6 billion in sales.

Commenting, Talal Al Dhiyebi, Chief Executive Officer, Aldar Properties, said: “Selling over AED 400 million of real estate is a ringing endorsement of what we do best – understanding what our customers need and then creating the right product to fulfill their requirements. We are off to a flying start this year, and we are seeing really strong demand for land opportunities within well though out, master planned communities. Generating over AED 2 billion from our two most recent developments – Al Reeman and Lea, shows how market sentiment is moving in a positive direction.”

Maan Al Awlaqi, Executive Director – Commercial, Aldar Properties said: “We are delighted with the response we received for Lea from both investors and homeowners of various nationalities. This is further evidence of the strong demand for land plots, following our launch of Alreeman. This is also our first development launch since we opened our inaugural experience centre in Dubai earlier this year, and we are seeing how this new demand channel from further afield is being reflected in transactions.”

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For further information, please contact:
Media:
Nick Farmer / Obaid Al Yammahi
Aldar Properties
+971 2 810 5555

Layla Haroon
Hanover Communications
+971 55 636 0425

For more information on Aldar please visit www.aldar.com       

About Aldar Properties

Aldar Properties PJSC is the leading real estate developer in Abu Dhabi with USD10 billion in assets, a 75 million sq. m land bank, and through its iconic developments, it is one of the most well known in the United Arab Emirates, and wider Middle East region.

From its beginnings in 2005 through to today, Aldar continues to shape and enhance the urban fabric of the UAE’s Capital City in addition to other key areas of the Emirate.

Aldar develops exciting and innovative projects, such as the internationally recognized HQ building situated in the Al Raha Beach development, the Gate Towers in Shams Abu Dhabi on Al Reem Island, in addition to Yas Island’s F1 circuit.

Aldar’s shares are traded on the Abu Dhabi Securities Exchange (Stock quote: ALDAR:UH), and operates according to high standards of corporate governance and is committed to operating a long term and sustainable business in order to provide ongoing value for its shareholders.

Aldar seeks to create quality, comfortable, desirable destinations that enrich the lives of Abu Dhabi residents as well as tourists within the Emirate. Aldar is playing a leading role in the development and provision of world class retail - Yas Mall, international standard education through Aldar Academies, iconic entertainment venues such as the Yas Marina Circuit, and community amenities across its entire portfolio.

Aldar is driven by a vision to be the most trusted and recognized real estate lifestyle developer in Abu Dhabi and beyond.

www.aldar.com 

© Press Release 2019

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