Abu Dhabi: Aldar Properties PJSC (‘Aldar’) today launched Alreeman II, a AED 1.7 billion master-planned residential community in the Alshamkha area of Abu Dhabi, available exclusively for purchase by UAE nationals. Alreeman II follows the runaway success of Alreeman, launched in January 2019 which generated AED 1.6 billion in sales.
Alreeman II addresses pent up demand for affordable, infrastructure enabled land plots where owners can build homes to their exact specifications and taste. Spread across an area of 2.4 million square metres, the development features 1,690 villa plots, which range between 500 to 1,000 square metres in size. Residents will benefit from a wide range of amenities including a school, retail offerings, parks, mosques, and running and cycling tracks catering to their specific needs and interests.
Sales of the first phase of the land plots will commence on 22nd June, with prices starting from AED 690,000 per plot. Construction will commence at the end of 2019, with the first handovers commencing from the end of 2021.
Commenting on the launch, Talal Al Dhiyebi, Chief Executive Officer, Aldar, said: “Alreeman II builds on the incredible success of Alreeman, launched earlier this year. This expansion is a clear response to high demand among UAE Nationals to create communities in the Alshamkha area and we are committed to delivering high quality and comfortable living spaces that meet these needs. We look forward to developing a new community that UAE Nationals can call home.”
Alreeman II’s masterplan has been oriented into clusters each with their own parks and amenities in order to create a strong sense of community. The development is located in close proximity to the Abu Dhabi International airport, key arterial highways and some of Abu Dhabi's major infrastructure projects and lifestyle destinations, including Yas Island, Zayed City, New Al Falah, Masdar City, and Mohammed Bin Zayed City.
For further information, please contact:
Nick Farmer / Chris Wilson
+971 2 810 5555
Joudi Issa / John Greenway
+971 2 234 4600
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