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Phase 1 of Aldar’s $653m Abu Dhabi project sells out in three days

Aldar Properties sold out the first phase of its new Yas Island project, Water's Edge, at the recently concluded Cityscape Global

Aldar sold out Phase 1 of Water's Edge at Cityscape Global 2017.
Aldar sold out Phase 1 of Water's Edge at Cityscape Global 2017.
Water's Edge is Aldar's new project on Yas Island.
Water's Edge is Aldar's new project on Yas Island.

Aldar Properties sold out the first phase of its new project on Yas Island during the three-day run of Cityscape Global 2017, which took place from 11-13 September at Dubai World Trade Centre.

According to the company, it generated a total of $109m (AED400m) in sales for the first phase of Water’s Edge, a project valued at $653.4m (AED2.4bn).

Aldar’s participation in this year’s event marks a triumphant return to Cityscape Global for the developer after a five-year absence.

Read: Aldar returns to Cityscape Global with $653m waterfront project

Commenting on the company’s performance at the recently concluded property show, Aldar’s chief development officer, Talal Al Dhiyebi, said: “Coming to Cityscape in Dubai and selling out Water’s Edge on [a] global stage is a huge success for us, and shows that the Abu Dhabi real estate market remains attractive to property buyers from around the world.”

Read: UAE’s Aldar launches $653m waterfront development on Yas Island

Launched earlier this month, Water’s Edge is a waterfront residential development targeted at the mid-market real estate segment. It will comprise 13 apartment buildings with private courtyards, landscaped areas, swimming pools, multipurpose courts, and a mosque.

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Construction Week - Issue 753
Nov 09, 2019