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Aldar sells out Phase 2 of $653m waterfront project in Abu Dhabi

Aldar Properties has sold out the second phase of Water’s Edge, bringing the total sales value of all units launched to more than $217.8m (AED800m)

Aldar has sold out Phase 2 of Water's Edge.
Aldar has sold out Phase 2 of Water's Edge.

Aldar Properties PJSC has sold out the second phase of Water’s Edge, bringing the total sales value of all units launched to more than $217.8m (AED800m).

According to the Abu Dhabi-based developer, buyers snapped up all units of the three apartment buildings that comprised Phase 2 on 18 November, the day public sales for the properties commenced.

A residential waterfront development planned for Yas Island, Water’s Edge was launched in early September this year. It was showcased at Cityscape Global 2017 later in the month, during which Phase 1 sold out.

Valued at $653.4m (AED2.4bn), Water’s Edge will consist of 13 apartment buildings with private courtyards, landscaped areas, swimming pools, multipurpose courts, and a mosque. Each home will come with a balcony, said Aldar.

Talal Al Dhiyebi, chief executive officer of Aldar Properties, commented: “We are delighted to have sold out these two phases of Water’s Edge in such a short space of time.

“The exceptional response demonstrates customer confidence in Aldar’s developments and our ability to create communities in which people want to live. The continued demand for homes on Yas Island further solidifies the destination’s reputation as one of Abu Dhabi’s most desirable locations.”

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Construction Week - Issue 754
Nov 23, 2019