Aldar Properties has launched the AED722 million ($196.5m) Saadiyat Reserve, its first residential community on Saadiyat Island.
It is the first land plot development to be launched on Saadiyat Island since the introduction in April of new laws enabling foreign buyers to own freehold land in investment zones in Abu Dhabi.
The community features 306 infrastructure enabled land plots open to buyers of all nationalities.
Talal Al Dhiyebi, chief executive officer, Aldar, said: “We believe that this project offers an exciting opportunity for potential buyers who are looking to own freehold land and design bespoke homes minutes away from some of the capital’s most inspiring cultural and educational landmarks.”
The 422,370 square metre community will offer 306 villa plots of various sizes, ranging between 600 to 1,400 square metres, ideally suited to accommodate homes of 4 to 6 bedrooms. Amenities in the community will include community centres, parks, schools, mosques and a host of retail offerings.
Saadiyat Reserve is located opposite the New York University Campus and is close to several landmarks including Louvre Abu Dhabi, Cranleigh and Saadiyat Beach Resorts as well as other leisure and retail destinations.
Aldar is offering a variety of payment plans with a 5 percent down payment. Works on the project are due to begin in Q1 2020 with handovers scheduled for mid-2022.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.
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