Aldar Properties on Monday announced the launch of its newest AED2 billion ($544 million) development, Alreeman, in Alshamkha.
The mid-market, mixed-use development offers residential and commercial land plots available for purchase by all nationalities, said the developer in a statement.
Alreeman is spread over an area of 2.8 million square metres and land plots include a series of residential clusters that will feature single and multi-residential villas and apartments, complemented by retail space, F&B, mosques, sports, education and commercial facilities, it added.
Sales for the land plots will commence on January 19, with prices starting from AED690,000 for villa plots and AED4.69 million for commercial plots.
Alreeman will provide a network of walkable gardens, parks, open spaces interwoven with greenery and cycle tracks that facilitate public life and social interaction.
Construction is expected to start this year with infrastructure enabled land targeted for handover to customers in 2021.
A key feature of Alreeman is the purchaser’s ability to design their villa or apartment building according to their exact specifications within the approved GFA limits, said Aldar.
Talal Al Dhiyebi, CEO, said: “The launch of Alreeman builds on Aldar’s successful development strategy and further expands our focus in to new areas of Abu Dhabi. Catering to the mid-income segment, this development responds to market demand to live in a desirable community with a wide range of facilities while also appealing to investors looking to construct apartment buildings or villas to generate recurring income.”
The development is in close proximity to some of Abu Dhabi's major infrastructure projects and lifestyle destinations, including Yas Island, Zayed City, New Al Falah, Masdar City, Mohammed Bin Zayed City and Abu Dhabi Airport Free Zone.For all the latest construction 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.
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