Aldar's pipeline of Abu Dhabi housing projects totals 2,300 units

10 March 2014

Current projects under development valued at over $1.5bn

Local real estate developer Aldar Properties says its current pipeline of national housing projects being built for the Abu Dhabi government totals 2,300 units with a combined development value of AED5.7bn ($1.5bn) including infrastructure.

The projects are fully funded by the government and form part of its on-going commitment toward building sustainable communities as well as raising the quality of living for UAE nationals, Aldar says.

The current projects under development include 1,020 villas on Yas Island, 996 villas in Al-Falah, and 275 villas at Al-Ghuraibah in Al-Ain.

When completed in 2016, all three developments will achieve a level two rating on the Pearl Estidama System, a rating methodology used by the Urban Planning Council for the sustainable construction and operation of buildings and communities.

The development on Yas Island is located along the western shore of the island and has a total site area of approximately 220 hectares. The development will also have a primary and secondary segregated school for up to 1,800 students that will be operated by Aldar Academies.

The development at Al-Falah is in addition to the overall master-planned community developed for UAE nationals, which occupies a 12.5 million square metre area and is located on the east side of the Abu Dhabi International airport and Abu Dhabi-Dubai highway. Al-Falah consists of five ‘villages’ and offers 4,857 villas and is home to thousands of people. 

The 275 units at Al-Ghuraibah in Al-Ain is an extension of the existing master-planned community developed by Aldar and will feature a range of community facilities such as a school, mosques and retail outlets.

Aldar is currently in the process of handing over 1,887 completed national housing units to government authorities. These developments consist of 839 villas in Watani and Al-Raha in Abu Dhabi, 448 villas at Silaa in the Western Region, and 600 villas at Al-Ghuraibah in Al-Ain. Aldar has already delivered to the government 4,857 villas at Al-Falah, bringing the total number of units developed or delivered to 6,744 homes for UAE nationals.

In February, Aldar reported that its yearly profit grew 67 per cent to AED2.25bn in 2013, driven by the merger with Sorouh Real Estate and the handover of units at key residential developments.

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