IMKAN accelerates new project launch schedule on the back of strong sales performance
The developer said that 74% of real estate transactions in the UAE were by nationals in the last 24 months
Following strong demand for Pixel, Nudra and the first phase of AlJurf Gardens, Abu Dhabi developer IMKAN Properties says it is accelerating plans to launch new projects. Upscale developments in AlJurf and Makers District will be announced in the near term following the rapid sell-out of the aforementioned projects, the developer emphasised.
According to IMKAN, local and global real estate demand continues to soar in some of the country’s most sought-after locations. It said that more than 74% of real estate transactions were by UAE nationals in the last 24 months, in addition to sales to buyers from 18 countries across Asia and the Middle East.
In December 2021, Imkan opened a redeveloped premium park in Abu Dhabi.
“Our strong property sales have strengthened the UAE’s position as a global destination and reinforced Abu Dhabi’s reputation as one of the world’s most sought-after real estate markets. The right design, in a premium location, developed by a trusted developer continues to represent a quality investment opportunity, and our projects fit this profile. Today’s announcement is a milestone and an achievement underscoring our strong rebound from the pandemic,” said Suwaidan Al Dhaheri, Managing Director at IMKAN.
He added, “As we continue to bring new projects to the market, we are confident in our ability to build unique communities using an innovative research-driven strategy. Our radical approach to placemaking has contributed to a portfolio of 26 projects in three continents, maximised financial value, minimised risk for investors and created unique living environments focused on the wellbeing of our residents. We are all set to launch new projects ahead of schedule in Makers District and AlJurf this year and look forward to welcoming a new generation of buyers to the IMKAN family.”
Customers cited attractive destinations, spacious unit sizes, smart floor plans and IMKAN’s long-standing reputation for quality as the key factors that influenced their decision to invest, the developer concluded.
In July 2022, developer Aldar said it would acquire four towers in deal worth $1.7bn while, in August, Apollo acquired a $400mn stake in Aldar Investment Properties.
