More than half of apartments at Burj Mohammed Bin Rashid tower in Abu Dhabi leased in first week

Aldar Properties reports swift uptake in apartments at Abu Dhabi's tallest tower since leasing started a week ago.
Burj Mohammed Bin Rashid stands tall behind Abu Dhabi's Corniche. Courtesy Aldar
Burj Mohammed Bin Rashid stands tall behind Abu Dhabi's Corniche. Courtesy Aldar

Aldar Properties, the Abu Dhabi developer, has said that it has already leased 50 per cent of the units at its newly launched Burj Mohammed Bin Rashid tower - the tallest in the capital.

The 474 units across 92 floors came to the market a week ago and have direct access to the World Trade Center Mall, Souk and WTC offices.

The project was originally developed by Aldar but was sold to the government in 2011 during the global financial crisis with Aldar retained as development manager on the scheme.

“Already over 200 units have been rented, reflecting the high demand for this exceptional leasing offering; a mixed-use city centre development, located in a prime location, with panoramic views, and direct access to the popular WTC Mall,” said Mohammed Khalifa Al Mubarak, chief executive of Aldar.

Burj Mohammed Bin Rashid stands at 382 metres, putting it ahead of the Adnoc Corporate Headquarters on the Corniche at 342m and The Landmark Tower at 324m.

Aldar announced on Thursday that its profits had surged 42 per cent in the third quarter as it benefited from a growing rental portfolio and a valuation gain on Yas Mall which is set to open this week.

The company this year completed leasing of its rental flats at Gate Towers on Reem Island and at its Al Rayanna scheme on the Abu Dhabi mainland.

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Published: November 15, 2014 04:00 AM


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