Construction

Aldar launches $196.5mn first residential community on Saadiyat Island

Saadiyat Reserve will feature 306 infrastructure enabled land plots open to buyers of all nationalities

Aldar Properties, the UAE-based real estate developer, has launched its first residential community in the heart of Saadiyat Island – Saadiyat Reserve, a $196.5 million community featuring 306 infrastructure enabled land plots open to buyers of all nationalities.

Saadiyat Reserve is the first land plot development to be launched on Saadiyat Island since the introduction of new laws in April 2019, enabling foreign buyers to own freehold land in investment zones in Abu Dhabi, an Aldar statement said.

The launch of Saadiyat Reserve follows the success of Aldar’s three land plot sale launches – Alreeman, Alreeman II and Lea – which collectively generated sales of $653.4 million. These figures reflect a growing demand for well-priced, infrastructure-enabled land plots in Abu Dhabi, the developer added.

“One of the most sought-after destinations in Abu Dhabi, Saadiyat Island, is rapidly becoming an address of choice for homebuyers who are looking to benefit from the prestigious lifestyle it offers,” said Talal Al Dhiyebi, CEO of Aldar Properties.

“With the launch of Saadiyat Reserve, we wanted to cater to this demand and the increasing interest in land plot sales in Abu Dhabi,” observed Al Dhiyebi.

The 422,370sqm community will offer 306 villa plots of various sizes, ranging between 600 to 1,400 sqm, suited to accommodate homes of four to six bedrooms. Amenities in the community will include community centres, parks, schools, mosques and a host of retail offerings.

Aldar is offering a variety of payment plans with a 5% down payment. Works on the project are due to begin in Q1 2020 with handovers scheduled for mid-2022.

“We believe that this project offers an exciting opportunity for potential buyers who are looking to own freehold land and design bespoke homes minutes away from some of the capital’s most inspiring cultural and educational landmarks,” Al Dhiyebi concluded.

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