Abu Dhabi: Al Zeina and Al Muneera, the Al Raha Beach communities owned and managed by Aldar Properties, are flourishing as owners and tenants start to move in and new facilities are delivered. The communities have been recently handed over to owners and increasing numbers of people are moving in every day.
The majority of the units - 81.5% - have been sold at Al Zeina, with nearly 40% of the sold units now occupied.
As the community grows at Al Zeina, the facilities are growing too. Al Zeina's 500m private beach opened to residents in January, and the community's six swimming pools, six gyms, childcare facilities, male and female prayer rooms as well as a reading and relaxation room, all for the exclusive use of residents, are also open.
A Waitrose supermarket is set to open in the spring of 2012. A number of cafes and restaurants including Café Firenze are also preparing for opening.
Built across the mainland and island, and around a picturesque canal, at Al Muneera nearly 28% of the sold units are now occupied. Al Muneera will also feature an array of retail units with cafés and restaurants alongside its beachfront and boardwalks, including a convenience store, together with retail and eateries such as Costa Coffee, Lilies Café, and La Brioche.
Both communities include apartments, penthouses and a range of town houses and villas, some with private courtyards and pools, and others opening out directly on to a private beach.
Along with Al Bandar, these are the first beachfront residential developments in Abu Dhabi available for purchase by national and international buyers.
Mohammed Al Mubarak, Deputy CEO, Aldar properties, commented:
"We are delighted to see our beachfront communities develop at Al Raha Beach. The high standards of design and finishes set Al Zeina and Al Muneera apart, and both offer stunning sea views and real waterfront lifestyles with their beaches and promenades lined by cafes and restaurants."
Making home ownership a more affordable option, and helping to build the communities at Al Raha Beach, Aldar's Rent to Own programme allows tenants to convert their rental payments into equity. Already in operation at Al Bandar to great success, the programme has launched at Al Zeina, and will do so soon at Al Muneera.
Once owners and tenants have moved in to the community, Aldar is making life easy through Aldar Connect, a comprehensive Customer Relationship Management (CRM) and accounting system that will allow Aldar to manage all financial and administrative affairs (including service charge budgeting and invoicing) and support communication with, and between, groups such as owners, committee members, tenants and contractors.
Mohammed Al Zaabi, Director of Estates, Aldar properties, said:
"Aldar Connect, together with the Rent to Own programme, a transparent and fair service charge system and the on-time delivery of retail and community facilities, all makes Al Zeina and Al Muneera two of the most welcoming and best lifestyle choices for those living in Abu Dhabi."
Aldar Connect
This sophisticated web based portal system, with bespoke sites for each Aldar community, offers a range of self-service management tools, information and social networking features to residents and owners via a secure portal. Users will be able to:
View important community information including financial data, contacts and key documents
View service charge statements in real-time and pay online via a secure payment gateway
Log and track service requests
Communicate with Aldar, fellow owners, residents, owner association board members
Search for local businesses and service providers and receive offers and promotions
Aldar Rent to Own at Al Zeina and Al Muneera
For 1 bedroom properties:
Rents start at AED60,000, with RTO selling price set at competitive levels that allow 15% or more to be converted into equity.
100% of 1st year rent plus 90% of 2nd year will be credited back to the client in case of conversion, which gives an average equity of 15% of the purchase price.
Equity can be transferred to any 3rd party buyer.
For 2 bedroom properties:
Rents start at AED110,000
100% of 1st year rent plus 90% of 2nd year will be credited back to the client in case of conversion, which gives an average equity of 15% of the purchase price.
Equity can be transferred to 3rd party buyer.
Aldar Service Charges
For Al Zeina the service charge rate for apartments, town houses, sky villas, podium villas and penthouses start from AED 103.33 per sq m and for beach villas start from AED 54.17 per sq m.
At Al Muneera, town houses and villas start from AED 72.44 per sq m and for apartments it starts from AED 117.22 per sq m.
About Aldar
Aldar Properties PJSC is Abu Dhabi's leading property development, management and investment company. It listed on the Abu Dhabi Securities market in 2004. Aldar was established to support the region's infrastructure through the creation of high quality, attractive and sustainable communities equipped with residential, commercial, retail, leisure, hospitality, education and medical facilities.
Aldar's diverse property portfolio includes major developments and re-developments within Abu Dhabi including Yas Island, Al Raha Beach, Central Market, Al Falah, and Noor Al Ain. The company owns a sizeable land bank in strategic locations throughout the Emirate.
For more information, please contact:
Shamma Al Nuaimi
salnuaimi@aldar.com
+971 2 810 5742
© Press Release 2012
