Overseas and expatriate resident buyers account for 87%
First-time Aldar buyers represent 86% of sales
Due to the success of phase one sales, Aldar is now launching an additional 150 units to the market
Abu Dhabi, UAE: Aldar Properties (‘Aldar’) announced today the successful sell-out of phase one of its first residential development in Ras Al Khaimah, which includes the highly sought after Nikki Beach Residences. In the first 48 hours of launch, Aldar sold 420 beachfront units totalling more than AED 1 billion in sales at the development located on Al Marjan Island.
The strength of sales shows the growing demand for the short-term stay and second home market in Ras Al Khaimah and is a testament to the emirate’s emergence as both a residential and investment destination.
Overseas and expatriate resident buyers account for 87% of sales, while 60% of all buyers are under the age of 45. First-time buyers of an Aldar property account for 86% of sales, showcasing the brand’s growing appeal amongst a wider customer base.
Following the successful sell-out of phase one, Aldar has released an additional 150 for sale. Catering to the growing demand for branded and premium residences, the community offers a range of spacious one- to five-bedroom apartments, featuring expansive balconies with panoramic ocean views. Residents will enjoy a suite of exclusive services, including 24/7 concierge and valet parking. Designed to offer a resort-like lifestyle, the community will boast a range of amenities: a beach lounge, a modern clubhouse, games room, sauna, yoga deck, kids' areas, and gyms with ocean views.
Commenting on the sales performance, Rashed Al Omaira, Chief Commercial Officer at Aldar Development, said: “We are delighted with the response to our first-ever residential community in Ras Al Khaimah, which has validated our long-held view that the market is primed for a branded residential product that facilitates short-term stays. We are creating a community proposition that provides residents and guests with resort like barefoot living, and the success of phase one indicates that our customers truly believe in the concept and Ras Al Khaimah as an investment destination. As we unveil phase two, we anticipate continued interest from buyers who seek a unique blend of luxury, service excellence, and beachfront living."
Nestled between the Rixos Bab Al Bahr and Doubletree by Hilton – both owned by Aldar – the community is ideally situated to offer residents easy access to several leisure and entertainment attractions, including Al Hamra Golf Club, Al Hamra Marina and Yacht Club, and the recently refurbished Al Hamra Mall, which has a range of new F&B and retail experiences.
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Aldar Properties PJSC is the leading real estate developer, investor, and manager in the UAE with a diversified and sustainable operating model centered around two core businesses: Aldar Development and Aldar Investment.
Aldar Development is a master developer of integrated, liveable, and thriving communities across Abu Dhabi’s most desirable destinations, including Yas Island, Saadiyat Island, Al Raha, and Reem Island. It is responsible for developing Aldar’s c. 69 million sqm land bank and includes three businesses: Aldar Projects, which is Aldar's dedicated project delivery arm and the manager of its project management business; Aldar Ventures, which incubates and nurtures new business opportunities and innovation areas; and Aldar Egypt, the platform focused on developing mixed-use communities in Egypt.
Aldar Investment houses Aldar’s core asset management business comprising over AED 35 billion portfolio of investment grade and income-generating assets diversified across retail, residential, commercial, hospitality, and logistics segments. Aldar Investment also manages three core platforms: Aldar Education, Aldar Estates, and Aldar Hospitality and Leisure. Aldar Education includes Aldar’s entire educational portfolio, with almost 38,000 students across 31 operated and managed schools, and a growing network of educators from over 100 nationalities, offering a wide range of curriculum and ancillary services such as a Teacher Training Academy. Aldar Estates, the region’s largest integrated property and facilities management platform, consolidates Aldar’s Retail Operations alongside existing Residential and Commercial real estate operations within Provis and will further include Community Management under one integrated property management platform. Aldar Hospitality and Leisure looks after Aldar’s portfolio of hotel and leisure assets, which are anchored around Yas Island and Saadiyat, in addition to Ras Al Khaimah. It includes Aldar’s portfolio of 13 hotels, comprising over 4,200 hotel keys and managing operations across golf courses, beach clubs, and marinas.
Aldar’s shares are traded on the Abu Dhabi Securities Exchange (Stock quote: ALDAR:UH), and is a profitable, cash-generative business that provides recurring revenues, and benefits from a diverse and supportive shareholder base. Aldar 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 is driven by a vision to be a leading real estate developer and manager in the region by playing a key role in the development of quality, comfortable, desirable destinations that people can live in, work at and visit.
For more information on Aldar please visit www.aldar.com or follow us on:
About Nikki Beach Global:
In 1998, entrepreneurs Jack and Lucia Penrod introduced the world to Nikki Beach, the first and original luxury beach club concept that combines the elements of music, dining, entertainment, fashion, film and art into one. Today, as Nikki Beach marks over 25 years in business, the brand has grown into a global, multifaceted lifestyle hospitality company with 11 beach clubs, 5 hotels and resorts, residences, a fashion division, special events, and Nikki Cares, a 501c3 non-profit charity.
Nikki Beach has become known for impressive pop-ups during the Cannes International Film Festival, partnerships with some of the world’s most renowned performers and DJs, and a curated fashion collection offered in Nikki Beach boutiques and an online shop. Across the growing hotel division, Nikki Beach has introduced various on-site dining concepts including Café Nikki, Escape, and Soul Lounge as well as a luxury spa and Tone Gym. The Nikki Beach Global team plans to continue expanding their hospitality footprint with a number of new concepts in the pipeline.
Nikki Beach beach clubs can now be experienced in: Miami Beach, USA; Saint Tropez, France; Saint Barth, Caribbean; Marbella, Spain; Koh Samui, Thailand; Mallorca, Spain; Ibiza, Spain; Monte Carlo, Monaco; Dubai, UAE; Costa Smeralda, Italy and Tivat, Montenegro. Every year, Nikki Beach has a pop-up location during the Cannes International Film Festival in France and a summer-long pop-up lounge at the Waterfront in Porto Cervo, Italy. The Hotels & Resorts division has properties in Koh Samui, Thailand; Porto Heli, Greece; Dubai, UAE; Santorini, Greece and Tivat, Montenegro, with a property in Muscat, Oman opening soon.
Facebook: Nikki Beach Global