• Overseas and expatriate resident buyers account for 77%, with Emiratis making up the remaining 23%
  • First-time Aldar buyers represent 85% of sales
  • The final phase of the development will launch for sale in early 2024

Abu Dhabi, UAE: Aldar Properties (‘Aldar’) has announced today the successful sell-out of the first two phases of Haven by Aldar ('Haven’), the company’s first residential development in Dubai. Aldar launched 468 units in the first phase and due to remarkable demand on launch day, released the second phase with an additional 318 units. In total, Aldar sold 786 villas and townhouses at the development, generating over AED 3.1 billion in sales, and reflecting the strong appeal of the Aldar brand to homebuyers and investors.

Overseas and expatriate resident buyers accounted for 77% of sales, highlighting Dubai’s attractiveness as a major global hub for property investment and long-term residency, while UAE nationals made up the remaining 23% of sales at Haven. Female buyers represent 24% of sales, while male buyers make up the remaining 76%.

51% of all buyers are under the age of 45, indicating the desire of younger generations to reside in communities focused on health and wellness. First-time buyers of an Aldar property account for 85% of sales, underscoring the increasing scale of Aldar’s customer base.

The final phase of Haven, which includes further villas, townhouses, and apartments, will launch for sale to buyers of all nationality in early 2024. Haven is the first of three new residential communities to be developed in Dubai as part of a joint venture between Aldar and Dubai Holding, a diversified global investment company with a presence in over 13 countries.

Commenting on the sales performance, Rashed Al Omaira, Chief Commercial Officer at Aldar Development, said: "We are thrilled to see the remarkable response to our inaugural residential community in Dubai, which confirms our long-held belief that new residential concepts are desired in the emirate by both local and international buyers. Our customers demonstrated their excitement about Aldar’s entry to Dubai by turning up in their hundreds at our sales centres in Dubai and Abu Dhabi. Haven’s successful sell-out is testament to Aldar's track record in delivering high-quality developments, complemented by Dubai's reputation as an ideal destination for long-term residence."

Haven is a premier residential community rooted in nature and wellness that will offer an exclusive retreat from the hustle and bustle of city life. Construction of the first phase of the development is due to begin in Q2 2024 with handovers expected in Q3 2027.

-Ends-

For media enquiries please contact:

Obaid Alyammahi
Aldar Properties

Radwa El Taweel
Brunswick Group
ALDARCORP@brunswickgroup.com

 

About Aldar

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      

ABOUT DUBAI HOLDING

Dubai Holding is a diversified global investment company with operations in 13 countries and employing over 20,000 people. Established in 2004, Dubai Holding touches the lives of millions of Dubai residents and visitors through its extensive portfolio of over AED 130 billion worth of assets that support the diversification and sustainable growth of Dubai’s economy across 10 key sectors: Real Estate, Hospitality, Leisure & Entertainment, Media, ICT, Design, Education, Retail, Manufacturing & Logistics and Science.

Our portfolio is comprised of five leading companies: Dubai Holding Real Estate, one of the largest landowners and integrated master developers in Dubai;  Dubai Holding Asset Management, which offers a world-class portfolio of 10 business districts, 20 retail destinations and 15 residential communities that collectively enable business and tourism activity as well as an enriched living experience for residents; Dubai Holding Hospitality, which manages leading hospitality assets and a diverse collection of unique F&B concepts as well as top-notch hotel brands including Jumeirah, Dubai Holding’s flagship hospitality brand and global luxury hotel company; Dubai Holding Entertainment, which comprises Dubai’s leading leisure attractions, media and entertainment venues such as Ain Dubai, Global Village, Dubai Parks and Resorts, ARN, and Roxy Cinemas, amongst others; and Dubai Holding Investments, a dedicated vehicle responsible for developing and implementing the Group’s investment strategy, and managing a diverse portfolio of strategic and financial investments across public and private markets in the UAE and internationally. Focused on long-term and sustainable value creation, it has investments in Dubai Waste Management Centre, Du and Azadea, as well as joint ventures and partnerships with Brookfield, Emaar and others.