Aldar to develop $2.7bn masterplan close to Abu Dhabi-Dubai border
Construction of the first neighbourhood, which will comprise 611 homes, is scheduled to commence this year and completed in 2021
Aldar Properties has launched the newest addition to its portfolio of master-planned communities in Abu Dhabi.
Valued at $2.7bn (AED10bn), the Alghadeer masterplan will be developed within the company's Seih Al Sdeirah land bank, close to the border of Abu Dhabi and Dubai
Construction of the first neighbourhood, which will comprise 611 homes, is scheduled to commence this year and completed in 2021. These homes will go on sale during Cityscape Abu Dhabi, which will open tomorrow, 17 April.
The project will comprise 14,408 units, including villas, townhouses, and maisonettes.
The total residential GFA of the project is expected to exceed 1.3 million square metres, and will be complemented by office and retail spaces, and hospitality, education, and community amenities, the developer said in a statement.
Talal Al Dhiyebi, chief executive officer of Aldar Properties, said: “The launch of Alghadeer is a clear statement of Aldar’s ambition.
“From its strategic location to its sustainable living initiatives, Alghadeer signals the creation of a new way of living for UAE residents, now and in the future. We are confident of the demand for a community that offers a distinct lifestyle.”
He added: “The scale and 15-year timeframe of the development underlines Aldar’s confidence in the Abu Dhabi residential market.”
The masterplan will feature a multi-use, agricultural-led space, an educational area for training and workshops, an area selling farming tools and supplies, and a retail area for freshly grown produce.
Residents will also be able to rent plots and grow their own produce, Aldar added.
The master-planned development will also have lakes, running and cycle tracks, a gym, camping and BBQ sites and a network of walkable gardens and parks lit entirely by solar powered lights, in addition to schools, a hotel, public garden areas, community swimming pools, multi-use sports areas, and community centres.
According to Aldar, the Alghadeer masterplan incorporates its existing community of the same name, which consists of more than 2,000 homes.
Last month, it was revealed that Aldar has formed a joint venture (JV) worth $8.1bn (AED30bn) with Dubai's Emaar Properties.
The JV will initially focus on two projects, one each in Dubai and Abu Dhabi. The master-planned destination in Abu Dhabi will be situated within the Cultural District of Al Saadiyat Island, named Saadiyat Grove, while the second project is a waterfront development called Emaar Beachfront.