The Gate and Arc Towers leased in less than a year
Aldar's Reem Island developments made up of 3,533 units
Abu Dhabi proprty developer Aldar has said that The Gate and Arc Towers on Al Reem Island are fully leased after being on the market for just under a year.
The developmests, located in the district of Shams Abu Dhabi, are made up of 3,533 units, of which Aldar retained over 1,300 units as part of their recurring-income portfolio. The Arc comprise of studios, one and two bedroom apartments with its unique arc-like design.
Earlier this year, Aldar also fully leased its Al Rayanna residential gated community, located next to Abu Dhabi Golf Club, after six months on the market.
Mohammed Al Mubarak, chief executive officer at Aldar Properties, said: “Reaching full occupancy a year ahead of schedule is a testament to the quality of The Gate and Arc Towers development and Aldar’s ability to meet the demands of the market for quality residential property.
"The Shams Abu Dhabi area is one of the most sought-after communities in the capital, providing residents with modern accommodation and amenities in a popular district. Leasing activity has been very strong this year with bulk and end-users tenants, helping to strengthen our recurring income portfolio.”