Aldar sees increased activity on Shams Abu Dhabi

Demand for Aldar's new project on the island exceeds expectations

NEWS, Business, Abu dhabi, Reem island, Residential property

Aldar has handed over more than 190 units on Shams Abu Dhabi, a new community on Al Reem Island.  

Aldar announced that unit sales generated $27m (AED100m) in less than a month, with over 180 units leased or sold during the first month of the company’s marketing campaign.

Mohammed Al Mubarak, deputy CEO of Aldar, commented: “We have seen a significant jump in sales and leasing contracts at Gates Towers as reflected in recent real estate broker reports which indicate that Shams Abu Dhabi and the wider Al Reem Island is the best performing area in the capital.

"Shams Abu Dhabi also enjoys investment zone status while being in close proximity to Abu Dhabi Island and the new central business district, Sowwah Square. We are seeing a number of sub-developers launching construction works on Shams Abu Dhabi and the recent announcement giving owners of properties in investments zones freehold ownership of their properties is another compelling reason to invest in properties on Shams Abu Dhabi.”

Most recently, Arabtec Construction announced that it will be responsible for building the second phase of the Gate Towers. In addition to Aldar’s projects, 98 other sub-developments are underway in the wider Shams Abu Dhabi community. More than 100 families are lliving in the community.

A recent report by real estate broker Cluttons stated that luxury apartments on Al Reem Island maintained their position as the best performing segment of this market.

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