ULTIMATE GREEN CANAL-SIDE LIVING AT GARDENIA BAY: NEW YAS ISLAND RESIDENTIAL COMMUNITY LAUNCHED BY ALDAR

Aldar Properties (‘Aldar’) announced today the launch of Gardenia Bay, a residential community that connects residents with nature and brings forward urban tranquillity and waterfront living into the heart of the vibrant Yas Island.

Through the integration of nature within the infrastructure and a master plan that has been carefully designed to maximise walkability, Gardenia Bay aims to improve overall well-being and promote a healthy lifestyle along almost 1 kilometre of canal frontage.

The community is located opposite Yas Park, a first of its kind family and recreational activity park in Abu Dhabi, and within cycling distance of some of Yas Island’s most exciting sights and attractions, such as SeaWorld Abu Dhabi, Ferrari World Abu Dhabi, and Yas Mall. The development also benefits from easy access to Abu Dhabi International Airport, and main highways to Saadiyat Island, downtown Abu Dhabi, and Dubai.

210 of the community’s 2,434 modern homes, including studios, one-, two-, and three-bedroom apartments, will be made available to buyers in the first phase of the development starting from 08 September 2023. Prices start from AED 805,000 for studios, while three-bedroom apartments start from AED 3.1 million.

Buildings will be strategically oriented to maximise shade and reduce heat, with additional cooling from water features, and significant emphasis on landscaping and planting selection. Direct access to Yas Island’s 10 km canal front promenade with minimised vehicle access further contribute to an enhanced living environment.

Fostering a sense of belonging, community activations and amenities will be seen across the development through ‘The Bay View’, a social clubhouse with co-working spaces and outdoor working pods, community farming, zen gardens, barbecue areas, educational kids' play areas, an amphitheatre, and an urban beach club. Residents will be able to enjoy a central amenity building and secondary amenities, including a gymnasium, cycling and jogging tracks, a café, and a multi-purpose area. A mosque will also be built to accommodate over 2,000 worshippers.

Rashed Al Omaira, Chief Commercial Officer at Aldar Development, said: "In response to the growing demand for sustainable and wellness focused communities, we are delighted to unveil Gardenia Bay, our latest product offering, building on wellness, nature and the best of waterside living on Yas Island. Residents at the development will enjoy varied urban amenities and facilities, and most importantly, a sense of community that we believe will pique the interest of existing and new customers.”

Gardenia Bay’s design and the integration of nature within the development is centred around Aldar’s commitment towards environmental sustainability and the overall well-being of its communities. By adopting a modular construction approach the development will be constructed efficiently, focusing on high quality with minimum impact on the environment. 

Additional sustainable practices will be integrated including the utilisation of recycled materials, ensuring a harmonious balance between environmental responsibility and innovative design. Buildings will target a Pearl 3 Estidama rating and incorporate monitoring meters to reduce energy, water, and waste consumption. 

The design of the open spaces, complemented by smart irrigation and composting systems as well as gardens with edible produce, encourage the growth of native and adaptive plant species, promoting pollination and sustainable biodiversity.

Construction of the first phase of Gardenia Bay is due to begin in Q1 2024 with handovers expected in Q2 2027.

About Aldar

Aldar Properties PJSC is the leading real estate developer, investor, and manager in the UAE with a diversified and sustainable operating model centered around two core businesses: Aldar Development and Aldar Investment.

Aldar Development is a master developer of integrated, liveable, and thriving communities across Abu Dhabi’s most desirable destinations, including Yas Island, Saadiyat Island, Al Raha, and Reem Island. It is responsible for developing Aldar’s c. 69 million sqm land bank and includes three businesses: Aldar Projects, which is Aldar's dedicated project delivery arm and the manager of its project management business; Aldar Ventures, which incubates and nurtures new business opportunities and innovation areas; and Aldar Egypt, the platform focused on developing mixed-use communities in Egypt.

Aldar Investment houses Aldar’s core asset management business comprising over AED 33 billion portfolio of investment grade and income-generating assets diversified across retail, residential, commercial, hospitality, and logistics segments. Aldar Investment also manages three core 

platforms: Aldar Education, Aldar Estates, and Aldar Hospitality and Leisure. Aldar Education includes Aldar’s entire educational portfolio, with almost 33,000 students across 27 operated and managed schools, and a growing network of 3,000 educators from over 100 nationalities, offering a wide range of curriculum and ancillary services such as a Teacher Training Academy. 

Aldar Estates consolidates Aldar’s Retail Operations alongside existing Residential and Commercial real estate operations within Provis and will further include Community Management under one integrated property management platform. 

Aldar Hospitality and Leisure looks after Aldar’s portfolio of hotel and leisure assets, which are anchored around Yas Island and Saadiyat, in addition to Ras Al Khaimah. It includes Aldar’s portfolio of 13 hotels, comprising over 4,250 hotel keys and managing operations across golf courses, beach clubs, and marinas.

Aldar’s shares are traded on the Abu Dhabi Securities Exchange (Stock quote: ALDAR:UH), and is a profitable, cash-generative business that provides recurring revenues, and benefits from a diverse and supportive shareholder base. Aldar operates according to high standards of corporate governance and is committed to operating a long-term and sustainable business in order to provide ongoing value for its shareholders.

Aldar is driven by a vision to be a leading real estate developer and manager in the region by playing a key role in the development of quality, comfortable, desirable destinations that people can live in, work at and visit.

For more information on Aldar please visit www.aldar.com.