Aldar, a leading developer in Abu Dhabi, UAE, said it has achieved a major milestone by selling all its homes in the third tower at its latest mid-market development, The Bridges, within just four hours of its launch on Saturday (May 6).
A 1,272-unit project, The Bridges is being built at a cost of Dh1.3 billion ($354 million) - on Reem Island in the UAE capital.
It comprises six canal-side towers, of which two were sold out at Cityscape Abu Dhabi last month, according to the statement from Aldar.
The Abu Dhabi developer said one tower was initially planned to be released for sale during the event, but the extraordinary response prompted the launch of another tower, and as a result the sales date for third was brought forward.
The prices start from Dh450,000 ($122,494), with eight different unit types including studios, one-, two-, and three-bedroom apartments.
The developer generated Dh600 million ($163 million) revenue from sales of its homes across all three towers.
Commenting on the record sale, Talal Al Dhiyebi, the chief development officer, Aldar Properties, said: "Demand for The Bridges has been very encouraging, reflecting customer confidence in the Aldar brand and its developments – and also the resilience of the Abu Dhabi real estate market as new and different types of products are introduced."
"Aldar has always been committed to developing products that meet the needs of customers. The exceptional demand for The Bridges reinforces the potential of the mid-market segment, and our commitment to this valuable market," he added.
According to him, Reem Island remains a popular choice for residents seeking high quality homes in a prime location.
It is already home to some of Aldar’s most iconic developments including Sky Tower, Sun Tower, the Gate & Arc Towers, and Meera, the developer’s first mid-market project.
The communities benefit being situated adjacent to the central business district on Al Maryah Island, and five minutes away from the city centre, offering convenient access to world-class facilities and hotels nearby.
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