Aldar launches first residential land community on Saadiyat Island - Saadiyat reserve

• AED 722 million development open to all nationalities
• Follows successful launch of Alreeman, Alreeman II and Lea

Abu Dhabi:  Aldar Properties PJSC (‘Aldar’) launched today its first residential community in the heart of Saadiyat Island – Saadiyat Reserve. The AED 722 million community features 306 infrastructure enabled land plots open to buyers of all nationalities. This is the first land plot development to be launched on Saadiyat Island since the introduction of new laws enabling foreign buyers to own freehold land in investment zones in Abu Dhabi in April 2019.

The launch of Saadiyat Reserve follows the overwhelming success of Aldar’s three land plot sale launches – Alreeman, Alreeman II and Lea – which collectively generated solid sales of AED 2.4 billion, reflecting a growing demand for well-priced, infrastructure-enabled land plots in Abu Dhabi.

The 422,370 square metre community will offer 306 villa plots of various sizes, ranging between 600 to 1,400 square metres, ideally suited to accommodate homes of 4 to 6 bedrooms. The different plot sizes provide flexibility for customers to design bespoke homes to suit their needs and tastes. Amenities in the community will include community centres, parks, schools, mosques and a host of retail offerings.

Aldar is offering a variety of attractive payment plans with a 5% down payment. Works on the project are due to begin in Q1 2020 with handovers scheduled for mid-2022.

Commenting on the launch, Talal Al Dhiyebi, Chief Executive Officer, Aldar, said: “One of the most sought-after destinations in Abu Dhabi, Saadiyat Island, is rapidly becoming an address of choice for home buyers who are looking to benefit from the prestigious lifestyle it offers. With the launch of Saadiyat Reserve, we wanted to cater to this demand and the increasing interest in land plot sales in Abu Dhabi. We believe that this project offers an exciting opportunity for potential buyers who are looking to own freehold land and design bespoke homes minutes away from some of the capital’s most inspiring cultural and educational landmarks. Saadiyat Reserve strongly complements our existing portfolio of high-quality assets on the Island, such as Mamsha and Jawaher, and will benefit from the wide-scale infrastructure work we were recently awarded by the Abu Dhabi Government.”

Saadiyat Reserve is located opposite the New York University Campus and is close to several landmarks including Louvre Abu Dhabi, Cranleigh and Saadiyat Beach Resorts as well as other leisure and retail destinations. Saadiyat Reserve’s masterplan gives every property easy access to open space, parks and other amenities, which will create a strong sense of community and enhance the living experience for residents.

In July 2019, the Abu Dhabi Government partnered with Aldar to deliver social, economic and infrastructure projects worth AED 5 billion across a number of key destinations in the Emirate. Among those, Aldar was appointed to complete the remaining infrastructure and public realm works on Saadiyat Island worth AED 2 billion. The project will facilitate further integration of Saadiyat Island into the broader Abu Dhabi metropolitan area with the construction of roads and utilities. This will ensure Saadiyat Island is equipped with the best infrastructure attracting further investments to one of the most sought-after destinations in Abu Dhabi.

-ENDS-

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.

For more information on Aldar please visit www.aldar.com

© Press Release 2019