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Wed 12 Jun 2019 02:27 PM

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Aldar launches new $460m residential project for UAE nationals

Launch of Alreeman II follows success of phase 1 which generated AED1.6bn in home sales

Aldar launches new $460m residential project for UAE nationals

Aldar Properties on Wednesday launched Alreeman II, a AED1.7 billion ($460 million) master-planned residential community in the Alshamkha area of Abu Dhabi, available exclusively for purchase by UAE nationals.

Alreeman II follows the success of Alreeman, launched in January 2019 which generated AED1.6 billion in sales, the developer said in a statement.

It added that 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 June 22, with prices starting from AED690,000 per plot.

Construction will start at the end of 2019, with the first handovers commencing from the end of 2021.

Talal Al Dhiyebi, CEO, 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.”

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