Abu Dhabi - UAE: Aldar Properties PJSC (‘Aldar’), today announced that it is launching a new rent to own scheme for a limited number of homes in its popular West Yas community overlooking the natural mangroves that surround Yas Island.

The scheme will enable customers to build up their home equity over a five-year period while paying only AED 220,000 in annual rent. 100% of rent payments will be converted into equity in the villa at the end of the five-year period. Separate to the rent payments, management fees are set at AED15,000 per year for the duration of the RTO period.

Commenting Talal Al Dhiyebi, Chief Executive Officer, Aldar, said: “We are launching this specific rent to own scheme in West Yas to enable customers to build ownership in their homes over time and live in this stunning community. We know that there is real demand for a rent to own scheme at communities like West Yas, so we are delighted to respond with a product that suits the needs of our customers. The iconic Yas Island has become one of Abu Dhabi’s most exciting destinations, attracting residents, tourists and investors alike. We look forward to having more people calling it home.”

West Yas features over 1,000 four and five-bedroom villas, ranging from 488 to 580 sqm in size designed and built to the highest standards by Aldar, with customised touches to meet individual requirements. The development offers a number of amenities and facilities including two schools, three mosques, sports facilities, retail centres, a community centre, and extensive landscaping and greenery in the open public spaces. Villa handovers commenced in late 2018.

Residents of West Yas benefit from close proximity to Yas Mall and the multiple leisure facilities on Yas Island including Yas Waterworld, Yas Marina Circuit, Yas Marina, Yas Links, Ferrari World Abu Dhabi, du Arena and a range of F&B outlets available across the numerous hotels on the island.

For further information, please contact:
Media
Nick Farmer
Aldar Properties
+971 2 810 5555

Joudi Issa / John Greenway
Brunswick
+971 2 234 4600
ALDAR@brunswickgroup.com

About Aldar

Aldar Properties PJSC is the leading real estate developer in Abu Dhabi with USD10 billion in assets, a 75 million sq. m land bank, and through its iconic developments, it is one of the most well known in the United Arab Emirates, and wider Middle East region.

From its beginnings in 2005 through to today, Aldar continues to shape and enhance the urban fabric of the UAE’s Capital City in addition to other key areas of the Emirate.

Aldar develops exciting and innovative projects, such as the internationally recognized HQ building situated in the Al Raha Beach development, the Gate Towers in Shams Abu Dhabi on Al Reem Island, in addition to Yas Island’s F1 circuit.

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 seeks to create quality, comfortable, desirable destinations that enrich the lives of Abu Dhabi residents as well as tourists within the Emirate. Aldar is playing a leading role in the development and provision of world class retail - Yas Mall, international standard education through Aldar Academies, iconic entertainment venues such as the Yas Marina Circuit, and community amenities across its entire portfolio.

Aldar is driven by a vision to be the most trusted and recognized real estate lifestyle developer in Abu Dhabi and beyond.

© Press Release 2019

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