We noticed you're blocking ads.

Keep supporting great journalism by turning off your ad blocker.

Questions about why you are seeing this? Contact us

Font Size

- Aa +

Sun 10 May 2015 03:04 PM

Font Size

- Aa +

Aldar launches sales at Nareel Island project in Abu Dhabi

Developer says launch follows off-market sale which attracted reservations of nearly $136m

Aldar launches sales at Nareel Island project in Abu Dhabi

Aldar Properties said on Sunday it has launched the first public sales phase comprising 32 land plots on Nareel Island, a master-planned island community for Emiratis in the heart of Abu Dhabi.

The developer said in a statement that the launch follows the successful off-market sale of the first phase which saw strong demand from Emiratis across the UAE.

Almost AED500 million ($136 million) was committed in sales reservations, Aldar added.

Mohammad Al Mubarak, CEO, Aldar Properties, said: "We are pleased to launch the public sales phase of Nareel Island following the strong demand we saw in the off-market sales period.

"The exceptional location of Nareel Island in the heart of Abu Dhabi makes it a once in a lifetime opportunity for Emiratis who are looking to build homes for themselves and future generations.

"We are confident that it will continue to see strong demand over the coming sales phases."

Nareel Island consists of two islands comprising 148 villa plots.

Purchasers will be provided with clear design guidelines, to ensure that Nareel Island is developed in line with the community's aesthetic identity, Aldar said.

Arabian Business: why we're going behind a paywall

For all the latest real estate news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
Real news, real analysis and real insight have real value – especially at a time like this. Unlimited access ArabianBusiness.com can be unlocked for as little as $4.75 per month. Click here for more details.