Aldar Properties has announced a new mid-market real estate project on Reem Island. ‘The Bridges’ was unveiled at Cityscape Abu Dhabi, and will be incorporated into the company’s leased residential portfolio, as part of its recently announced investment programme.
The AED 1.3-billion ($354m) project spans two plots separated by the new 2.4km canal that runs through Reem Island. The project will offer several different unit types including studios, one-, two- and three-bedroom flats, and Aldar says the launch of this project highlights the confidence it has in demand for mid-market residential units.
Construction is expected to commence in the fourth quarter of 2017, with handover set for the first quarter of 2020.
Mohamed Khalifa Al Mubarak, chief executive officer at Aldar commented, “We have launched The Bridges in order to cater to the significant demand for high quality, yet affordable homes in prime investment zone destinations across Abu Dhabi. Set alongside the new Reem Island canal and featuring a wide range of amenities, and situated close to Abu Dhabi’s business and cultural districts, The Bridges will appeal to both investors and owner occupiers.”
The Bridges is said to embody the ideal balance between community and city living, and is located next to a new public park. The development offers two indoor ‘his and hers’ gymnasiums, a private courtyard with adult’s and children’s pools, as well as an outdoor fitness area.