August 24, 2019 Today’s Paper
  • Bahrain
  • Kuwait
  • Oman
  • Qatar
  • Saudi Arabia
  • UAE
  • Countries News:

Aldar launches $463mln Alreeman II in Abu Dhabi

UAE - June 13, 2019

Leading UAE developer Aldar Properties has announced the launch of Alreeman II, a Dh1.7 billion ($463 million) master-planned residential community in the Alshamkha area of Abu Dhabi, available exclusively for purchase by Emiratis.

The Alreeman II follows the runaway success of Alreeman, launched this January which generated Dh1.6 billion ($435 million) in sales.

Spread across a 2.4 million sqm area, the development features 1,690 villa plots, which range between 500 to 1,000 sqm in size. Residents will benefit from a wide range of amenities including a school, retail offerings, parks, mosques, and running and cycling tracks catering to their specific needs and interests, said the Abu Dhabi developer in its statement.

Alreeman II addresses pent up demand for affordable, infrastructure enabled land plots where owners can build homes to their exact specifications and taste.

Sales of the first phase of the land plots will commence on June 22, with prices starting from Dh690,000 ($187,820) per plot, it stated.

Construction work will kick off later this year, with the first handovers likely to begin from 2021-end, it added.

CEO Talal Al Dhiyebi, said that Alreeman II builds on the incredible success of Alreeman, launched earlier this year. This expansion is a clear response to high demand among UAE nationals to create communities in the Alshamkha area and we are committed to delivering high quality and comfortable living spaces that meet these needs.

Alreeman II’s masterplan has been oriented into clusters each with their own parks and amenities in order to create a strong sense of community, said a top official.

The development is located in close proximity to the Abu Dhabi International airport, key arterial highways and some of Abu Dhabi’s major infrastructure projects and lifestyle destinations, including Yas Island, Zayed City, New Al Falah, Masdar City and Mohammed Bin Zayed City.

Share this page

x
Join our and be

Keep up with the latest market trends, offers, news, view and how-tos through our newsletter.