This achievement was the perfect end to Aldar’s participation in the Abu Dhabi Sustainability Week, with Aldar launching a number of sustainability-related initiatives.
The value of sales exceeded 1 billion dirhams, reflecting the high demand for projects focusing on sustainability
87% of sales went to first-time buyers of Aldar Properties, and the percentage of international buyers reached 24%.
Due to the unprecedented demand, Aldar and Diamond Developers have offered the remaining 352 units of the project
Abu Dhabi, United Arab Emirates: The “Sustainable City – Yas Island” project, launched by Aldar Properties (“Aldar”) in partnership with “Diamond Developers”, managed to sell all residential units of the first phase within only 24 hours of its launch is set, for sale. The sales value of the first phase of this sustainability-based community exceeded 1 billion dirhams, prompting the company to offer for sale the remaining units of the project, including 352 townhouses and apartments.
The first phase of the project includes the development of 512 residential units, of which 76% have been sold to foreigners, of whom 24% live outside the country, reflecting Aldar’s growing international customer base. 87% of these properties were sold to first-time buyers from Aldar Properties, indicating the formation of a new customer base looking to adopt a more sustainable lifestyle. It was noted that 66% of buyers are under the age of 45, indicating a strong demand for sustainable properties and communities among new customer segments and the younger generations.
On this occasion, Jonathan Emery, CEO of Aldar Development, said: “The UAE is one of the first countries to put sustainability at the forefront of its priorities and development plans, starting with Green Agenda projects and initiatives, to the adoption of 2023 as the year of sustainability. The success achieved by the ‘Sustainable City’ reflects – Yas Island ‘The effective role of the wise initiatives adopted by the Abu Dhabi Government, and the desire of buyers for more sustainable lifestyles adopt, and for this we will work to develop more such projects throughout the region in collaboration with ‘Diamond Developers’.”
Emery added, “The sale of all units in the first phase of the project concludes this exceptional week, after announcing our commitment to achieving net zero emissions and a number of other commitments during Abu Dhabi Sustainability Week .”
It was the first time that the house launched its sales without the need to use any paper transactions, as its customers could complete purchases using electronic transactions and a digital signature. The digital transformation in real estate transactions, enabled by the UAE’s recently introduced Electronic Transactions and Trust Services Law, provides a better and easier experience for customers, enabling them to conduct their transactions in an environmentally friendly manner. finish.
The Sustainable City – Yas Island was announced in January 2022 during Abu Dhabi Sustainability Week and is the result of a joint venture with Diamond Developers, the company behind the sustainable city brand. Construction of the project will begin in the second quarter of 2023; Delivery of the first phase is expected to begin during the fourth quarter of 2025.
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For more information, please call the following numbers:
Obaid Al Yamahi
Aldar Property Company
+971 2 810 5555
Sarah Abdel Bary
+971 4 560 9638
About Aldar Company
Aldar is a leading property development and management company in the UAE, with a diversified and sustainable operating model supported by two core businesses, Aldar Development and Aldar Investments.
Aldar Development Company continues its leading role in developing integrated communities that enrich the lives of residents across the most sought-after destinations in the Emirate of Abu Dhabi, including Yas Island, Saadiyat Island, Al Raha Beach and Al Reem- island. It also owns a land portfolio of 69 million square metres, comprising three business units: Aldar Projects, the project execution arm responsible for running the fee-based project management business unit; Al Dar Al Riyada, which seizes new business opportunities and develops areas of innovation; and “Aldar Misr”, a platform that focuses on the promising and profitable Egyptian real estate market, as a major market for the development of integrated mixed-use communities.
Aldar Investments is the asset management unit of the Aldar Group, which includes a portfolio of 30 billion dirhams of real estate assets generating recurring income in the retail, residential, commercial, hotel and logistics assets. Aldar Logistics Assets owns a 70% interest in the Abu Dhabi Business Forum complex, which owns a complex of warehouses, offices and industrial facilities strategically located in the Industrial City of Abu Dhabi (ICAD), with a net leasable area of approximately 166,000 square meters. Aldar Investments also manages the three main platforms: Aldar Education, Aldar Properties and Aldar Hospitality and Entertainment.
The “Al Dar Education” platform includes a portfolio of educational assets that include approximately 33,000 students in 28 schools operated and managed by “Al Dar Education”, in addition to a growing network of 3,000 teachers serving more than 100 nationalities belong, and it accepts a wide range of educational curricula and additional services Like a teacher training academy.
While “Aldar Properties” integrates commercial and residential property operations within the portfolio of “Provis”, which specializes in property management, and also includes community management through an integrated property management platform. The Aldar Hospitality and Leisure Company is responsible for overseeing the hotel and leisure asset portfolio of Aldar, which is primarily located on Yas Island and Saadiyat Island, in addition to Ras Al Khaimah. Aldar’s hotel portfolio includes 13 hotels, with a total of 4,250 hotel rooms, in addition to managing operations across golf courses, beach clubs and marinas.
Aldar shares are listed on the Abu Dhabi Securities Exchange (trading symbol ALDAR: UHThe company’s business achieves stable recurring profits and revenues, and it has a broad and diversified shareholder base. Aldar accepts the best standards of corporate governance, and is committed to managing sustainable operations in the long term, in order to achieve continuous added value for its shareholders.
Aldar adopts an ambitious vision as it aims to be the most trusted developer and property manager in the region, playing a pivotal role in the development of high-quality and convenient destinations that meet the needs of community members and across the necessary ingredients and abilities available for work, living and entertainment.