ALDAR, the renowned Abu Dhabi-based international property developer, hit AED 600 million sales this week at the fourth annual Abu Dhabi Real Estate and Investments Show (IREIS 2008), with the launch of the first phase of the Al Zeina project. Sales income was also derived from Al Muneera, another of ALDAR’s developments.
The Al Zeina project is the gateway to the Al Raha Beach development, and is a self-sustainable mixed use community, incorporating a light railway and canals as alternative transport methods to explore the many retail, shopping or residential districts.
“Creating communities and destinations that appeal to families from around the world is part of our promise to our customers, and it is fantastic to be able to talk directly to these customers at exhibitions,” commented Ronald S. Barrott, CEO, ALDAR Properties. “The blend of water, greenery and relaxing amenities creates a community in touch with nature, as well as offering alternative transport options to cut down on environmental impact. Al Zeina is one of our projects that has been awarded Silver Rating from the Leadership in Energy and Environmental Design Buildings Rating System (LEED), and we are proud to be working with the organization to achieve best in class ratings across our projects.”
“The exhibition provided us with yet another opportunity to connect with future residents. The level of sales logged by the team demonstrates the strong appetite for quality residential communities in Abu Dhabi,” commented James Khazaei, Head of Sales and Leasing, ALDAR Properties. “The Abu Dhabi market has matured exponentially over the last 6 months, and we have seen consistent demand from affluent buyers who understand our standards and deliverables.”
Set to be handed over in December 2009, the first phase sales launch comprised 30% of the total project. Al Zeina contains luxury residential apartments, townhouses and beach front villas, private boat moorings, retail high street with local supermarket and shops, waterside restaurants and cafes, 500-metre public beach with landscaped gardens, luxurious shared gardens and open spaces.
About ALDAR Properties
ALDAR Properties PJSC is a premier real estate development, management and investment company with headquarters in Abu Dhabi, UAE. The company was formed as the result of an initial Public Offering (IPO) of shares. The PJSC was created under Emiri Decree No 808 of 2004. ALDAR Properties PJSC is owned by leading Abu Dhabi institutions, founder shareholders and individual investors. ALDAR Properties PJSC was created to fast track real estate investment opportunities, and to offer an opportunity to participate in the prosperity of this increasingly important industry in the UAE.
The current property portfolio includes major developments and re-developments within Abu Dhabi Emirate such as Central Market, Al Raha Beach, Coconut Island, Noor Al Ain, Al Gurm Resort, Al Mamoura - the Mubadala Development Company and Environment Agency Abu Dhabi Headquarter Building, and the YAS Island project which is to include a Warner Bros theme park.
In August 2007 ALDAR announced its expansion into Malaysia via a tie-up with South Johor Investment Corp (SJIC) in a deal that represents the largest foreign real estate development in Malaysia.
