26 September 2017
Aldar Properties PJSC (Aldar), Abu Dhabi's leading listed property development, investment and management company, will exhibit at the Restatex Cityscape Riyadh from 27-30 September 2017 in Saudi Arabia.
At the real estate event, one of the largest and most prominent in the GCC, Aldar will showcase its Water’s Edge development, situated on Yas Island, Abu Dhabi’s most exciting destination. It will also raise awareness of Abu Dhabi’s burgeoning real estate market, and Aldar’s market-leading role in the rapidly growing industry.
Aldar recently sold out the initial phase of Water’s Edge at Cityscape Global in Dubai, generating AED400 million in sales, with further homes to be launched in subsequent phases for sale soon. Buyers were attracted by both the potential for yields of 8% as well as the opportunity to live on Yas Island.
Abu Dhabi’s position as a global destination of choice is well-established; the city was named the second-best city in the world to live, work and do business in the latest Ipsos City Index, and was ranked as the third fastest-growing destination in Mastercard’s Global Cities Index Report in January.
Abu Dhabi also boasts some of the UAE’s most iconic attractions and events, many of which are on Yas Island, including Ferrari World Abu Dhabi and the Formula 1 Grand Prix, which is held every year at Yas Marina Circuit. Yas Island is a destination for major Government investment, with the upcoming AED 12 billion South Yas development, incorporating the Abu Dhabi Media Zone Authority’s new, state-of-the-art twofour54 campus being developed by Aldar, which will bring 10,000 media and entertainment industry professionals to the island.
Meanwhile, there are various projects currently underway across Abu Dhabi, worth a combined value of AED 134 billion and expected to be complete by 2020, further enhancing Abu Dhabi’s presence on the global map. The Louvre Abu Dhabi has also recently announced that it will open on 11 November 2017.
Commenting, Talal Al Dhiyebi, Chief Development Officer, Aldar Properties PJSC, said: “Aldar is proud of its role in Abu Dhabi’s ongoing evolution, providing high quality real estate developments in key locations around the Emirate. The success of Aldar’s approach has been underlined by strong sales in its destinations and across different customer segments – whether mid-market or luxury – from an increasingly diverse customer base. Our most recent project, Water’s Edge, which sold out of its initial phase in under two days, appealed to investors after a high-yielding project and owner-occupiers looking to make Yas Island their home. Saudi Arabia has become an increasingly important market for us, and we look forward to engaging with Saudi investors at Restatex Cityscape Riyadh.”
Using a focused destination development approach, Aldar has delivered more than 23,000 homes in vibrant communities across the Abu Dhabi Emirate, with over 3,500 under development on Yas Island. The recently launched Water’s Edge project is a waterfront property that features 2,255 apartments, ranging from studios to 3 bedrooms. Situated on Yas Island’s eastern shores, the majority of units have full or partial views over water. Residents will enjoy Water’s Edge’s wide choice of exercise and recreation facilities, retail, restaurants and cafes, in addition to Yas Island’s abundant attractions. Construction is expected to commence in Q4 2017 and be ready for handover during 2020.
Among Yas Island’s other residential developments is Yas Acres, an AED 6 billion golf and waterfront development with 1,315 villas, whose residents will enjoy access to a golf course and club house, parks, schools and vibrant waterfront, when complete in 2019. Meanwhile, Mayan is a luxury golf and waterfront development consisting of studio to four-bedroom apartments and beachfront villas with superb amenities set alongside the Yas Links Golf Club and the exclusive Yas beach on Yas Island.
Restatex Cityscape Riyadh will take place from 27-30 September 2017 at the Riyadh International Convention & Exhibition Center.
For further information, please contact:
Media: Nick Farmer/ Obaid Al Yammahi
Aldar Properties
+971 2 810 5555
Layla Haroon Bell Pottinger
+971 55 636 0425