Aldar unveils fourth Grove District project as first three buildings 'sell out'

Sales at Grove Museum Views, Grove Beach Views and Grove Uptown Views amounted to $163.3m

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Aldar Properties, Abu Dhabi's biggest developer, said it has sold all apartments at three buildings within the first phase of its new Grove District on Saadiyat Island.

Sales at Grove Museum Views, Grove Beach Views and Grove Uptown Views, which began on June 25, amounted to Dh600 million ($163.3m), Aldar said.

Due to “overwhelming demand”, Aldar released units for sale at a fourth building in the district, Grove Gallery Views, it said.

“Located at the centre of three cultural institutions, Grove District has commanded overwhelming interest from both local and international buyers,” said Rashed Al Omaira, chief commercial officer at Aldar Development.

“The development was so well received by the market that we brought forward the second and third buildings ahead of schedule to meet customer demand and we are now recording strong interest in the fourth building.”

Units at Grove Gallery Views start at Dh905,000 for a studio, Dh1.4m for a one-bedroom unit and Dh2.3m for two-bedroom properties. Sales are open to buyers of all nationalities.

Aldar said that 37 per cent of sales for the first phase of its Grove District were completed by non-resident buyers, representing the highest demand from this segment at any of its developments.

Residents accounted for a further 27 per cent while the rest were purchased by Emirati homebuyers.

The Grove District is located within Aldar’s flagship Saadiyat Grove development, close to Zayed National Museum, Louvre Abu Dhabi and Guggenheim Abu Dhabi.

The development will include a total of five residential buildings with 612 units. Once completed, Saadiyat Grove will feature 60,000 square metres of retail, entertainment and leisure spaces, and will have two hotels and co-working spaces for new enterprises and start-ups.

There will be a residents’ lounge, art workshop spaces, swimming pools, gyms, a luxury games room, and direct access to a jogging track and meditation lawns.

Earlier this year, Aldar also launched Louvre Abu Dhabi Residences, located within Saadiyat Grove, which will feature 400 units and is scheduled for handover in 2025.

Other major developments unveiled in the capital this year include Reem Hills on Reem Island, Bloom Living close to Abu Dhabi International Airport and Jubail Island.

Earlier this week, Aldar announced the launch of Yas Golf Collection, a Dh1.7 billion resort-style development that aims to tap into the growing demand for property on Yas Island.

Updated: July 08, 2022, 10:33 AM
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