Aldar unveils Dh2 billion mid-market project in Abu Dhabi

abu dhabi - Villa plots are priced from Dh690,000 and commercial plots from Dh4.69 million

Aldar Properties has announced the launch of a Dh2 billion development, Alreeman in Alshamkha.

With investment zone status and located in proximity to the Abu Dhabi International Airport and key arterial highways, the mid-market, mixed-use development offers residential and commercial land plots available for purchase by all nationalities.

Alreeman is spread over an area of 2.8 million square metres. The 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.

Sales for the land plots will commence on January 19 at Aldar's sales centre on Yas Island, with prices starting from Dh690,000 for villa plots and Dh4.69 million for commercial plots.

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 limits imposed by the GFA.

Talal Al Dhiyebi, CEO of Aldar, said: "The launch of Alreeman builds on Aldar's successful development strategy and further expands our focus 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."

Maan Al Awlaqi, executive director - commercial at Aldar, said: "On the back of our successful mid-market developments - the Bridges, Waters Edge and Alghadeer, we are witnessing significant pent-up demand for mid-market land plots. Offering smaller, more efficient sizes in an up-and-coming location, with ready infrastructure, and places of interest in the vicinity - Alreeman represents value. Its location, expected appeal with investors as well as end-users makes Alreeman a fantastic opportunity for purchasers of all nationalities."

Construction on Alreeman is expected to commence in 2019 with infrastructure-enabled land targeted for handover to customers in 2021.

- business@khaleejtimes.com