Bloom Properties sells 70% of Faya units

Bloom Properties, the Abu Dhabi developer, announced that 70 per cent of units in its new project, Faya, were sold from its stand at Cityscape, marking a 20 per cent increase on the forecasted sales by Bloom.

During Cityscape Abu Dhabi, which ran from April 12-14, Bloom Properties unveiled Faya, the fourth phase of its master-planned community Bloom Gardens, consisting of 132 townhomes made up of 28 four-unit and five-unit clusters.

Faya is scheduled for completion in the fourth quarter of 2017.

According to the organisers behind the event, record investment deals on the show floor were made, though they did not disclose the value of deals.

Also participating at Cityscape was Khidmah, an Abu Dhabi-based property management company, that is 60 per cent owned by Aldar Properties. Adel Kamali, acting chief executive officer of Khidmah, said the company plans to expand in the region.

“Saudi Arabia will be one of our biggest expansions this year. Apart from this, we are also planning to take up projects in Northern Emirates as property sector booms in Ras Al Khaimah and Fujairah,” he said.

Kamali said Khidmah is already managing a property in Saudi Arabia and wants to take up more projects.

The tenth edition of Cityscape Abu Dhabi brought together over 90 exhibitors including major property developers that launched a number of residential, retail, and hospitality developments.

One of the largest projects showcased at the event was Aldar Properties’ Yas Acres, a residential and leisure development, featuring a total of 1,315 villas. The Dh6-billion-project is set for completion in the fourth quarter of 2019, and has already received strong response from investors at Cityscape, Aldar said.

Source: Staff Report,


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