Aldar sells out Al Hadeel units on launch day

Developer said 600 people turned up with a view to buying property

NEWS, Business

Al Hadeel is one of three projects worth a combined $1.36bn launched by Aldar Properties last month.

The developer is planning to build a total of 230 apartments, as well as retail and leisure units at Al Hadeel.

It did not say how many units were released, but said the sales event at the Crowne Plaza on Yas Island attracted more than 600 people.

Deputy CEO Mohammed Al Mubarak said: "Al Hadeel at Al Bandar will be another high-quality residential community in the sought-after location of Raha Beach. As we witness the continued growth of the Abu Dhabi residential sector through increased demand from buyers, we look forward to continuing this success in the future.”

The developer added that sales of the other two recently-announced projects - the Ansam apartments overlooking the golf course on Yas Island, and the Al Nareel Island where plots are just being sold to nationals - will be launched in the next few weeks.

At a press conference announcing the projects recently, Aldar said that these were the first of 23 projects it planned to bring forward on sites within its 77mn m2 land bank.

The projects are due to go to tender in July, with a view to contract awards being made later this year and a start either in Q4 2014 or Q1 2015. 



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