Abu Dhabi's Aldar launches first residential community on Saadiyat Island
September 9, 2019
Aldar is offering a variety of payment plans with a five percent down payment
Aldar Properties today launched its first residential community in the heart of Saadiyat Island – Saadiyat Reserve. The AED722 million community features 306 infrastructure enabled land plots open to buyers of all nationalities.
This is the first land plot development to be launched on Saadiyat Island since the introduction of new laws enabling foreign buyers to own freehold land in investment zones in Abu Dhabi in April 2019, said Aldar in a press release on Sunday.
The launch of Saadiyat Reserve follows the success of Aldar’s three land plot sale launches – Alreeman, Alreeman II, and Lea – which collectively generated solid sales of AED2.4 billion, reflecting a growing demand for well-priced, infrastructure-enabled land plots in Abu Dhabi.
The 422,370 square metre community will offer 306 villa plots of various sizes, ranging between 600 to 1,400 square metres, suited to accommodate homes of four to six bedrooms. Amenities in the community will include community centres, parks, schools, mosques and a host of retail offerings.
Aldar is offering a variety of payment plans with a five percent down payment. Works on the project are due to begin in Q1 2020 with handovers scheduled for mid-2022.
Commenting on the launch, Talal Al Dhiyebi, CEO of Aldar, said, "One of the most sought-after destinations in Abu Dhabi, Saadiyat Island, is rapidly becoming an address of choice for homebuyers who are looking to benefit from the prestigious lifestyle it offers. With the launch of Saadiyat Reserve, we wanted to cater to this demand and the increasing interest in land plot sales in Abu Dhabi. We believe that this project offers an exciting opportunity for potential buyers who are looking to own freehold land and design bespoke homes minutes away from some of the capital’s most inspiring cultural and educational landmarks."