Aldar Properties will hand over two projects on Reem Island and Yas Island in the coming days, Abu Dhabi’s biggest-listed developer said on Thursday.
The planned phased handovers at Yas Acres, the company’s golf and waterfront villa and townhouse development on Yas Island are set to commence at the end of the first quarter, the company said in a statement to the Abu Dhabi Securities Exchange, where its shares trade. The first phase of The Bridges project on Reem Island is also nearing completion with handover to customers expected to begin in early second quarter.
Yas Acres has 652 villas and townhouses where as The Bridges project consists of six building with 1,272 homes. The first phase has 636 apartments.
The company is also pressing ahead with various developments in its pipeline and looking forward to delivering more homes across the capital in the coming period, said Maan Al Awlaqi, executive director, commercial at Aldar Properties.
Other projects under way on Yas Island include Lea, which was first launched last April and features 238 plots directly to the north of Yas Acres. At the end of last year, Aldar awarded the contract to Hilalco with a mandate that encompasses the design and build of Lea's infrastructure, such as its roads and utilities. Lea was sold out during Cityscape Abu Dhabi last year, generating over Dh400 million in sales.
At other sites such as Alghadeer, show homes are now open to the public, with the development of a sustainability-focused master plan now entering its second phase, according to the company.
At Water’s Edge, which consists of 13 mid-rise residential blocks on Yas Island, the company said the structural works across all buildings are making good progress. On Reem Island, construction of the Reflection development with 374 apartments is continuing on both Towers A and B.
Work at projects such as Alreeman, which is located near Abu Dhabi International Airport, is also continuing ahead of schedule, the company said. The mixed-use development offers residential and commercial land plots available for purchase by all nationalities.