Aldar announces $545m Alreeman development
Aldar Properties has launched Alreeman, a new $545m freehold development located in the Alshamkha area of Abu Dhabi. The mid-market, mixed-use development is spread over 2.8m sqm and is said to offer convenient transportation links.
According to a statement from the developer, the land plots include a series of residential clusters that will feature single and multi-residential villas and apartments, complemented by retail space, food and beverages (F&B), mosques, sports, education and commercial facilities. The development is designed to meet the needs of the future community, Aldar stated.
“The launch of Alreeman builds on Aldar’s successful development strategy and further expands our focus in to new areas of Abu Dhabi. Catering to the mid-income segment, this development responds to market demand to live in a desirable community with a wide range of facilities, while also appealing to investors looking to construct apartment buildings or villas to generate recurring income,” said Talal Al Dhiyebi, CEO of Aldar Properties.
As per Aldar, one of Alreeman’s key features is the owner’s ability to design their villa or apartment according to their exact specifications within the approved GFA limits.
Maan Al Awlaqi, executive director (commercial) at Aldar added, “On the back of our successful mid-market developments – the Bridges, Waters Edge and Alghadeer, we are witnessing significant pent up demand for midmarket land plots. Offering smaller, more efficient sizes in a desirable up & coming location, with ready infrastructure, and places of interest in the vicinity – Alreeman represents compelling value. Its location, expected appeal with investors as well as end users makes Alreeman a fantastic opportunity for purchasers of all nationalities.”
The development will offer residents a network of walkable gardens, high-quality parks, open spaces interwoven with greenery and cycle tracks that facilitate public life and social interaction, Aldar added.
