Abu Dhabi – Mubasher: Aldar Properties, a leading property developer in the UAE, on Sunday announced the launch of Saadiyat Reserve, its first residential community in the heart of Saadiyat Island.
Spanning over 422,370 square metre, the AED 722 million project will offer 306 villa plots of various sizes, ranging between 600 and 1,400 square metres, according to a press release.
The community features 306 infrastructure enabled land plots that are available for sale to all nationalities, Aldar highlighted.
Saadiyat Reserve is the first land plot development Aldar launches on Saadiyat Island since the introduction of new laws allowing foreigners to own freehold land in investment zones in Abu Dhabi in April 2019.
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 home buyers 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.”
“Saadiyat Reserve strongly complements our existing portfolio of high-quality assets on the Island, such as Mamsha and Jawaher, and will benefit from the wide-scale infrastructure work we were recently awarded by the Abu Dhabi Government,” Al Dhiyebi added.
Moreover, the community will feature amenities such as community centres, parks, schools, mosques, and a host of retail offerings.
Aldar is offering a number of appealing payment plans with a 5% down payment, the release noted.
Works on the project are set to commence in the first quarter of 2020 with handovers scheduled for mid-2022, the real estate firm remarked.
This comes following the successful launch of Aldar’s three land plot developments; Alreeman, Alreeman II, and Lea, that generated a combined sales of AED 2.4 billion.