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UAE's Aldar reports $517m sales in H1 2015

The sales proceeds for Aldar came from land plots on Nareel Island, Al Merief and unit sales at Meera at Shams Abu Dhabi

Aldar is a listed developer based in Abu Dhabi.
Aldar is a listed developer based in Abu Dhabi.

Listed Abu Dhabi developer Aldar Properties announced it generated $517m (AED1.9bn) in sales during the first half of 2015. 

The sales proceeds came from land plots on Nareel Island, Al Merief and unit sales at Meera at Shams Abu Dhabi.

Mohammad Al Mubarak, CEO, Aldar Properties, said: “We have seen very strong sales activity across our new projects in the first half of 2015. We continue to see demand in Abu Dhabi for infrastructure enabled land and high quality residential communities and will continue to launch projects that meet this demand and support the growth of the Emirate.”

Aldar has seen strong demand for plot sales at Nareel Island, a residential waterfront master planned development close to the Al Bateen area in Abu Dhabi.

With almost 70 plots sold, Aldar has achieved $272m (AED1bn) in committed sales from the development. 

Al Merief in Khalifa Ciity was fully sold in an off-market sales process, generating up to $163m (AED600m) of revenues for the company.

Sales operations for phase one of Meera Shams Abu Dhabi are complete, with 150 units sold and $59.8m (AED220m) committed in sales.

Aldar is currently underway with phase two of Meera sales.
 

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