Aldar Properties has launched Yas Park Gate, a Dh1.15 billion ($313.14 million) gated community located alongside what it said is a first of its kind family and recreational activity park in Abu Dhabi.
Set in the North Yas development on Yas Island, it will feature 508 new homes and have access to the 115,000 square metre Yas Park.
Aldar said construction of Yas Park Gate is due to begin in the first quarter of 2023, with handovers expected to commence in the first quarter of 2026.
“Yas Park Gate represents the next stage of the broader North Yas masterplan, which will further solidify the island as one of Abu Dhabi’s most sought-after destinations," said Rashed Al Omaira, chief commercial officer at Aldar Development.
"Our research has shown growing customer demand for amenity-driven communities, so that has been a core focus for this development. As such, we expect to see strong demand from homeowners and international and local investors seeking an attractive investment opportunity.”
Units at Yas Park Gate will be available for purchase by all nationalities from September 1.
Two and three-bedroom townhouses start at Dh1.74 million, while four-bedroom villas start from Dh3.2m.
The homes will have Mediterranean-style architecture, and buyers will have a choice of two interior colour options.
Yas Park will feature a tranquil forest, shallow lagoon, canopied oasis, an interactive fountain, adventure playground, and a central lawn for concerts and live events, according to Aldar.
The community facilities have been designed for football, tennis, basketball, cricket, paddle tennis, beach volleyball, skater park and bounce park.
Abu Dhabi recorded 7,474 property transactions worth more than Dh22.51bn in the first six months of the year, as the UAE’s property market continues to rebound from the coronavirus-induced slowdown.
Yas Island recorded the highest value of transactions, with deals worth Dh1.8bn, followed by Al Saadiyat Island with transactions valued at Dh1.2bn.
In June, Aldar launched the Yas Golf Collection, a Dh1.7bn resort-style development that aims to tap into the growing demand for properties on Yas Island.
The Abu Dhabi developer also launched apartments at Grove District on Abu Dhabi's Saadiyat Island this year.
Other major projects in the capital include Reem Hills on Reem Island, Bloom Living, close to Abu Dhabi International Airport, and the second phase of Imkan's Riviera development on the coast between Abu Dhabi and Dubai.