The Arc on Abu Dhabi’s Reem Island launched by Aldar
With its headquarters shaped like a coin and its imposing Stonehenge-like development already adding character to the Abu Dhabi skyline, Aldar Properties’ latest rental offering comes in the shape of an arc.
The developer has confirmed that the first phase of leasing at The Arc at Gate Towers on the capital’s Reem Island will begin this week, with studios plus one and two-bedroom apartments available.
“We are bringing more high-quality, lifestyle residences to market at a time when residential demand is exceeding supply,” said Mohammed Al Mubarak, the deputy chief executive at Aldar.
“The Arc at Gate Towers will provide tenants with modern accommodation in a popular district of Abu Dhabi, with a range of entertainment and leisure facilities on their doorstep.”
Aldar said that annual rents at The Arc, which contains almost 1,000 apartments, will start from Dh62,000 and a four-week rent-free promotion is available to all tenants moving in during 2014.
Gate Towers opened at the tail end of last year and Aldar has since handed over more than 800 units.
Rental prices are on the rise in Abu Dhabi, with the Shams area on Reem Island increasing 3 per cent during the first quarter and 9 per cent year on year, according to data from the property services company Asteco.
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Published: May 31, 2014 04:00 AM