ABU DHABI, 7th October / WAM / Aldar Properties Company “Aldar” has announced the sale of all units of “The Magnolias”, the third phase of the Yas Acres development project on Yas Island, following the strong demand witnessed by the company for the units of the first three phases of the project. “Yas Acres”, in addition to the completion of the sale of the units of the three phases of the neighboring project “Noya” of Aldar Properties.
The unit sales of The Magnolias project, which included 312 spacious units of townhouses, duplexes and villas, recorded more than 1 billion dirhams, which showed the strong and continuous demand in the Abu Dhabi market for home units with distinctive designs and locations.
Aldar Properties is currently continuing its efforts to complete the next phase, “The Dalia” of the “Yas Acres” project, which will include 120 new units scheduled to be put on the market before the end of 2021.
The Emirate of Abu Dhabi is gaining great and increasing momentum as a leading international destination that attracts investors from all over the world, thanks to its qualitative and unprecedented achievements such as the national vaccination campaign and the launch of the new golden residency program and other supporting programs.
Aldar Properties continues to reap the fruits of its strategic efforts with a group of international investors acquiring 16% of the unit sales of ‘The Magnolias’.
Rashid Al Amira, Chief Commercial Officer at Aldar Development, said: “The Yas Acres project is one of the most desirable residential communities in the Emirate of Abu Dhabi, and this is what we have seen in the strong demand for ‘The Magnolias’ units…The units of homes, which are characterized by spacious spaces and focus on Keeping pace with the requirements of the modern lifestyle, a unique opportunity for investors and homeowners looking to settle and live in Abu Dhabi for the long term.”
He added: “Aldar’s strategy focuses on expanding the pool of international investors in its development projects, and we are pleased to welcome a new group of international investors across our projects in Abu Dhabi.
It is noteworthy that construction work is scheduled to start in the first quarter of 2022, with unit deliveries expected to start during the third quarter of 2024.
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