Abu Dhabi / Emirates Business
Aldar Properties on Monday announced the launch of its newest AED2 billion development, Alreeman in Alshamkha. With investment zone status, and located in close proximity to the Abu Dhabi International Airport and key arterial highways, the mid-market, mixed-use development offers residential and commercial land plots available for purchase by all nationalities.
Alreeman is spread over an area of 2.8 million square metres with convenient transportation links. The land plots include a series of residential clusters that will feature single and multi-residential villas and apartments, complemented by retail space, F&B, mosques, sports, education and commercial facilities, designed to meet the needs of the future community.
Sales for the land plots will commence on January 19 at Aldar’s sales centre on Yas Island, with prices starting from AED690,000 for villa plots and AED4.69 million for commercial plots. A key feature of Alreeman is the purchaser’s ability to design their villa or apartment building according to their exact specifications within the approved GFA limits.
Talal Al Dhiyebi CEO, Aldar Properties, said, “The launch of Alreeman builds on Aldar’s successful development strategy and further expands our focus in to new areas of Abu Dhabi. Catering to the mid-income segment, this development responds to market demand to live in a desirable community with a wide range of facilities while also appealing to investors looking to construct apartment buildings or villas to generate recurring income.”
The development is in close proximity to some of Abu Dhabi’s major infrastructure projects and lifestyle destinations. Construction is expected to commence this year with infrastructure enabled land targeted for handover to customers in 2021.