Aldar Properties launches three new residential developments in Abu Dhabi

Abu Dhabi (WAM): Aldar Properties PJSC, Abu Dhabi's leading listed property company, yesterday launched three major new residential developments in prime areas of Abu Dhabi, including in investment zones where property can be purchased by non-UAE nationals. Off-plan sales for the three developments will commence in May and construction is scheduled to begin in 2015. The three developments have a combined gross development value of approximately Dh 5 billion. The "Ansam" development -- the first phase of which comprises 540 golf fairway apartment units -- will overlook the award-winning Yas Links Golf Course on Yas Island, the premier lifestyle destination in Abu Dhabi. Yas Island is the location of Abu Dhabi's Yas Marina Formula One circuit, Yas Waterworld, the Ferrari World theme park, the soon-to-be-opened Yas Mall, seven well-appointed hotels including Yas Viceroy, Yas Beach and the world famous entertainment venues of Du Arena and Du Forum. Just across the bay from Yas Island, Aldar will develop the "Al Hadeel" development at Al Bandar on the popular Al Raha Beach Waterfront, offering 230 apartment and townhouse units. The third development is located on Nareel Island where Aldar is offering a premier lifestyle residential waterfront master-planned development, comprising of 143 well-appointed villa plots that allow UAE nationals to develop bespoke homes. The island is close to the Al Bateen area of central Abu Dhabi. Yas Island has developed into a major lifestyle and leisure destination in the Middle East in the last few years, thanks to the of the hosting of the Abu Dhabi Grand Prix at the Yas Marina Circuit, and the development of the Yas Marina, Ferrari World Abu Dhabi, Yas Water World, and the Yas Links Golf Course. Yas Mall, which will house over 400 retail outlets, is due to open in time for the 2014 Grand Prix in November. Occupancy at the seven hotels on Yas Island owned by Aldar increased to 75 percent in 2013, from 63 percent a year earlier. Meanwhile, Al Raha Beach is a thriving community built alongside a natural beach front, adjacent to the main highway between Abu Dhabi and Dubai. Aldar has completed several world-class residential developments in the area in recent years, including Al Bandar, Al Zeina and Al Muneera. – Emirates News Agency, WAM