Are you curious about the big real estate news in the UAE? Well, here’s the scoop: Aldar Properties, one of Abu Dhabi’s top real estate developers, is now making its debut in the bustling Dubai property market. This remarkable move comes through a solid partnership with Dubai Holding, a major global investment company with a staggering AED 130 billion in assets. Together, they’re planning to create fresh and exciting living spaces in prime Dubai locations.
So, what’s in the pipeline? Well, they’re gearing up to construct over 9,000 residential units in three distinct communities along Dubai’s lively E311 and E611 corridors. This is a big deal for Aldar as it signifies their expansion beyond Abu Dhabi. They’ve recently been acquiring assets in places like Ras Al Khaimah, hinting at their ambition to explore new markets.
Aldar’s CEO, Talal Al Dhiyebi, can’t contain his excitement, saying, “Our entry to Dubai is a milestone moment for Aldar, and we are excited about our long-term growth potential in the emirate alongside Dubai Holding, a prominent and strategic partner.” The communities they’re planning will be in the heart of Dubai, close to existing residential areas, and some of the last available plots of land in this prime corridor.
The project launch is scheduled for 2023, and it’ll bring a mix of villas, townhouses, and apartments, along with retail and community facilities covering a whopping 19.3 million square feet. Quality, sustainability, and community living are at the core of these communities, designed to cater to a wide range of residents and investors.
Amit Kaushal, Group CEO of Dubai Holding, sees this partnership as a strategic move. He says, “With the favorable economic environment in Dubai and the upward trend in its real estate sector, we are well positioned to attract international investors through such strategic partnerships that bring new and exciting offerings to the market.”
This joint venture with Dubai Holding aligns with Aldar’s goal of adding considerable weight to its development pipeline. They’re not just building these communities; they’ll handle everything from concept design to sales, delivery, and management.
In 2023, more than 9,000 homes, including villas, townhouses, and apartments, will become available. These homes will come with shops and community services, creating a complete living experience. The entire area of these communities is a massive 19.3 million square feet, showing their dedication to offering high-quality living spaces in Dubai’s active real estate market.
Aldar Properties’ journey into the Dubai real estate market is based on their belief in the maturing real estate fundamentals, government policies, and population growth. With Dubai’s favorable economic environment and the booming real estate sector, this partnership is set to attract international investors looking for exciting opportunities.
This collaboration between Aldar Properties and Dubai Holding is set to shape the future of living experiences in Dubai. It’s not just about building structures; it’s about creating vibrant communities and making a mark in the ever-evolving real estate market.
So, if you’re searching in the market for a new place to call home, keep an eye on these exciting developments by Aldar Properties and Dubai Holding. They’re set to bring fresh and unique living options to Dubai, and it’s going to be a game-changer for the city’s real estate landscape.
