Aldar launches $653m development on Yas Island
Water’s Edge is a 2,255-home development that will be completed by 2020
Aldar Properties, the Abu Dhabi-based real estate developer, has announced the launch of Water’s Edge, a $653.2 million waterfront development on Yas Island.
The 2,255-home master-planned development will offer purchasers of all nationalities the opportunity to invest, the developer said in a statement. Prices will start from $130,653 and Aldar will release one building for sale at Cityscape Global 2017 in Dubai on September 11.
Water’s Edge is situated on Yas Island’s eastern shores, with the majority of units having full or partial water views. In order to support Aldar’s recurring revenue strategy, the developer will incorporate a number of the project’s homes into its leased residential portfolio.
“Yas Island has established itself as Abu Dhabi’s most exciting destination with world-renowned leisure and entertainment attractions, and a range of luxury apartments, townhouses and villas set to welcome residents over the coming years,” said Mohamed Khalifa Al Mubarak, chief executive officer of Aldar.
“Water’s Edge is the latest chapter in the Yas Island story – bringing high quality waterfront living to the emirate. We are confident that Water’s Edge will complement our existing residential portfolio, and draw a positive response from customers.”
The early works for Water’s Edge will commence this December, with the aim of beginning phased handovers between June and December 2020. The development is expected to build on the success of Aldar’s The Bridges, which launched and sold out in Q2 2017, and Meera, which is on track to complete during Q3 2018.
Water’s Edge is adjacent to the upcoming Sea World theme park, and a five-minute walk from Yas Mall, Ferrari World and the Yas Marina Circuit. In addition, Yas Island is also home to seven hotels, Yas Beach, and Yas Links Golf & Country Club. It will also welcome the Warner Bros. World Abu Dhabi theme park in 2018.
Yas Island is a destination for major government investment, with the upcoming $3.2 billion South Yas development, incorporating the new twofour54 campus being developed by Aldar, which will bring 10,000 media and entertainment industry professionals to the island.
