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Fri 19 Apr 2019 12:47 AM

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Aldar sells out new Yas Island project with $108m deals

Offering land plots starting at AED990,000 and available for purchase by all nationalities, Lea features 238 residential plots

Aldar sells out new Yas Island project with $108m deals
Aldar Properties' latest development, Lea, located on the northern shores of Yas Island.

Aldar Properties' latest development, Lea, located on the northern shores of Yas Island, has sold out during Cityscape Abu Dhabi generating over AED400 million ($108 million) in sales.

Offering land plots starting at AED990,000 and available for purchase by all nationalities, Lea features 238 residential plots adjacent to Aldar’s flagship Yas Acres project.

This most recent sell out follows the successful launch of Alreeman, a land plot masterplan located close to Abu Dhabi Airport, which generated AED1.6 billion in sales.

Talal Al Dhiyebi, CEO, Aldar Properties, said: “Selling over AED400 million of real estate is a ringing endorsement of what we do best – understanding what our customers need and then creating the right product to fulfill their requirements.

"We are off to a flying start this year, and we are seeing really strong demand for land opportunities within well though out, master planned communities. Generating over AED2 billion from our two most recent developments – Al Reeman and Lea, shows how market sentiment is moving in a positive direction.”

Maan Al Awlaqi, executive director – commercial, Aldar Properties added: “We are delighted with the response we received for Lea from both investors and homeowners of various nationalities. This is further evidence of the strong demand for land plots, following our launch of Alreeman.

"This is also our first development launch since we opened our inaugural experience centre in Dubai earlier this year, and we are seeing how this new demand channel from further afield is being reflected in transactions.”