Aldar launches AED 1.7bn residential community in Abu Dhabi

Abu Dhabi – Mubasher: Aldar Properties, a leading property developer based in Abu Dhabi, on Wednesday announced the launch of its latest master-planned residential community, Alreeman II, in the Alshamkha area of Abu Dhabi.

The AED 1.7 billion project will be available for purchase for only UAE nationals, according to a press release.

Spanning over 2.4 million square-metre area, Alreeman II features 1,690 villa plots with sizes ranging between 500 to 1,000 square metres.

Residents of the new development will enjoy from various amenities including a school, retail offerings, parks, mosques, and running and cycling tracks.

“The development is located in close proximity to the Abu Dhabi International airport, key arterial highways and some of Abu Dhabi's major infrastructure projects and lifestyle destinations, including Yas Island, Zayed City, New Al Falah, Masdar City, and Mohammed Bin Zayed City,” Aldar highlighted.

The first phase of the land plots is due sale on 22 June, with prices starting from AED 690,000 per plot as construction will begin at the end of 2019, with the first handovers taking place from the end of 2021.

Talal Al Dhiyebi, CEO of 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. We look forward to developing a new community that UAE Nationals can call home.”

Alreeman II follows the successful launch of Alreeman that took place in January 2019 which generated AED 1.6 billion in sales.

Mubasher Contribution Time: 12-Jun-2019 10:02 (GMT)
Mubasher Last Update Time: 12-Jun-2019 10:20 (GMT)