UAE’s Aldar to commence sales for Phase 2 of waterfront project

Aldar Properties will commence public sales for the second and final phase of Water’s Edge on 18 November, 2017

Aldar aims to hand over Waters Edge in 2020.
Aldar aims to hand over Waters Edge in 2020.

Aldar Properties PJSC has announced that it will commence public sales for the second and final phase of Water’s Edge on 18 November, 2017.

Located on Yas Island, the waterfront residential development is valued at $653.4m (AED2.4bn) and will be built adjacent to the upcoming Sea World theme park.

In a statement, the Abu Dhabi-based developer said that all homes in Phase 2 of Water’s Edge are on the waterfront, and will feature balconies, with most boasting views of the water.

Phase 1 of the development sold out during this year’s Cityscape Global, which took place from 11 to 13 September at Dubai World Trade Centre.

Read: Abu Dhabi’s Aldar Properties appoints new chairman, CEO

Commenting on the sale of Phase 2, Talal Al Dhiyebi, chief executive officer, Aldar Properties, said: “Selling out the first phase of Water’s Edge in a matter of days clearly shows the demand for waterfront homes on Yas Island. We look forward to bringing the second phase of homes to market so that more customers can benefit from the opportunity to own a part of this unique community.”

According to Aldar, Water’s Edge consists of units ranging from studios to three-bedroom apartments, with prices for Phase 2 starting at $130,683 (AED480,000).

Escrow accounts with Union National Bank are reportedly being utilised for all purchases of Water’s Edge.

The project is scheduled to begin phased handovers between June and December 2020.

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