Aldar Properties has announced the launch of a new AED10 billion ($2.7 billion) masterplan that will incorporate and greatly enhance one of its already established destinations – Alghadeer, which sits close to the border of Abu Dhabi and Dubai.
The Alghadeer masterplan consists of 14,408 units, including villas, townhouses, and maisonettes. Total residential area is set to exceed 1.3 million sq m and will be complemented by office space, retail space, hospitality, education and community amenities, the developer said in a statement.
At the heart of Alghadeer is HARVEST, a multi-use agricultural led space featuring allotments, as well as THE HUB – a F&B outlet, THE STUDIO – an educational area for training and workshops, THE SHED – a dedicated area for purchasing farming tools and supplies, THE MARKET – a retail area for freshly grown produce, and THE FIELD - where people can rent plots and grow their own produce.
Talal Al Dhiyebi, CEO, Aldar Properties said: “The launch of Alghadeer is clear statement of Aldar’s ambition. From its strategic location to its sustainable living initiatives, Alghadeer signals the creation of a new way of living for UAE residents, now and in the future. We are confident of the demand for a community which offers a distinct lifestyle - peaceful residential neighbourhoods, within close proximity to the bustling cities of Abu Dhabi and Dubai.
“This launch further underlines how Aldar is expanding its successful destination-led strategy to additional areas of Abu Dhabi, capitalizing on the UAE’s flourishing population as well as our reputation as Abu Dhabi’s leading developer. The scale and 15-year timeframe of the development underlines Aldar’s confidence in the Abu Dhabi residential market.”
Alghadeer is designed to benefit from the significant growth being experienced in the north of Abu Dhabi and the south of Dubai, he added.
The destination will also feature lakes, running and cycle tracks, gym, camping and BBQ sites and a network of walkable gardens and parks lit entirely by solar powered lights.
The new Alghadeer masterplan also includes schools, a hotel, public garden areas, community swimming pools, multi-use sports areas, and community centres.
Aldar will initially launch the first neighbourhood of 611 homes for sale during Cityscape Abu Dhabi taking place in the UAE capital from Tuesday.
Prices within this first release will start from AED290,000 for maisonettes, with townhouses starting at AED899,900.
Construction of this first neighbourhood is scheduled to commence in 2018 and be completed during 2021.
The new Alghadeer masterplan incorporates Aldar’s existing community of the same name which boasts over 2,000 homes.
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