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Transactional activity in Abu Dhabi’s property space is showing a lot of vibrancy - Aldar Properties has confirmed that all 281 plots at Al Merief in Khalifa City were sold within a week. The sales process would add Dh600 million plus to Aldar’s books in the coming quarters.
The plots were purchased by Emirati buyers on down payments terms of between 50-100 per cent. “We are seeing unprecedented demand for infrastructure enabled land in Abu Dhabi,” said Mohammad Al Mubarak, CEO. “Al Merief marks the next phase of Aldar’s development plan and furthers our strategy to monetise our land bank, and de-risk our developments.”
A master-planned residential community for UAE nationals, Al Merief will feature villas and apartments, and be complemented by parks, mosques and a school operated by Aldar Academies. The 690,000 square metre community will enable Emiratis owners to build homes for own use or lease them for investment purposes.
“The rapid sale of the plots at Al Merief shows that Aldar has the right development strategy in place and that we are delivering quality products to meet the needs of this growing city,” said Al Mubarak.
Source: Staff Report