Abu Dhabi, UAE: Aldar Properties (‘Aldar’) has announced the sell-out of land plots at the second phase of Al Gurm, the luxurious and secluded beachfront community on the South-West side of Abu Dhabi’s main island. This solid sales performance is the latest indication of the demand for a diverse range of real estate investment opportunities in Abu Dhabi.
Available exclusively to UAE nationals, all 71 new plots were purchased at Al Gurm, which is comprised of a series of archipelago-style islands over a total of 105,000 sqm. Each plot will have access to exclusive beaches, with plots ranging in size from 900 to 4,400 sqm, distributed across three distinct areas: The Beach, The Canal, and The Island.
Commenting on the strong sales performance, Rashed Al Omaira, Chief Commercial Officer at Aldar Development, said: “We continue to see demand for a wide range of real estate investment opportunities in Abu Dhabi, as evidenced by multiple sell-out launches of turnkey developments on Yas Island and Saadiyat Island in recent months, and now the completion of land plot sales at Al Gurm.
“The luxurious waterfront community at Al Gurm is a unique product in Abu Dhabi. Situated amongst the iconic natural mangroves with direct access to the heart of the city, our new residents will be introduced to a living experience that is unrivalled.”
The first phase of Al Gurm was completed in 2010 and construction of the second phase is due to begin in September 2021.
Aldar Properties PJSC is the leading real estate developer 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. 65 million sqm land bank and includes three businesses: Aldar Projects, which manages Aldar's fee-based development management business, including AED 45 billion of government housing and infrastructure projects; 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 an AED 16 billion portfolio of investment grade and income-generating real estate assets diversified across retail, residential and commercial segments. It also manages three core platforms: Aldar Education, Aldar Estates and Aldar Hospitality and Leisure. Aldar Education includes Aldar’s entire educational portfolio, including Aldar Academies, the leading education group in Abu Dhabi, with 20 schools, over 24,000 students and a growing network of 3,000 educators from over 100 nationalities, offering a wide range of curriculum and ancillary services such as a Teacher Training Academy.
Aldar Estates 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. It includes Aldar’s portfolio of 10 hotels, comprising over 2,900 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:
© Press Release 2021