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Aldar Properties, Abu Dhabi’s biggest developer by market value, announced plans to build 189 detached villas at the Noya Luma development on Yas Island.
This move comes after the delivery of the first two phases of the development.
The latest phase, which includes three, four and five-bedroom detached villas, is in response to customer demand for larger options, Aldar said yesterday.
The company said there was significant buyer interest in four-bedroom villas during the first two phases.
Prices for three-bedroom units start from Dh2.41 million ($656,145) while four and five-bedroom villas start from Dh2.77m and Dh3.27m, respectively.
The strong response to the first two phases of the Noya development . [is] confirmation that Abu Dhabi’s real estate market is going from strength to strength
Aldar s Yas Island freehold property sold out in 48 hours tradearabia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tradearabia.com Daily Mail and Mail on Sunday newspapers.
“Central to this market-leading sales performance is Aldar’s commitment to addressing current market demand and launching customer-centric products.”
Aldar has already generated more than Dh1 billion of sales at Noya Viva, the UAE s biggest listed developer said. The development contains 480 properties, including four-bedroom villas and two- and three-bedroom townhouses.
Unit prices start from Dh1.65 million and are offered with a 40:60 payment plan, meaning 40 per cent is payable during construction and the remainder on completion. A 5 per cent down payment is required, according to the project s website.
So far, UAE nationals account for 61 per cent of buyers, women 26 per cent and under 40s 42 per cent, the developer added. Some 63 per cent are first-time purchasers from Aldar, the developer said.