Dubai: UAE’s developers are pivoting towards villa launches – Abu Dhabi’s Aldar has confirmed the third release of its ‘Noya’ cluster, with 189 homes priced from Dh2.41 million.
An earlier release of 480 villas – located on Yas Island - got sold out within 48 hours last month. It included many first-time buyers. The first in the series was in November last year, and was also the first attempt by a UAE developer to test the offplan demand since the COVID-19 spread.
Rashed Al Omaira, Chief Commercial Officer at Aldar Development, said: “The strong response to the first two phases of the Noya development reflects renewed consumer confidence, and confirmation that Abu Dhabi’s real estate market is going from strength to strength.
Dubai: Even as it says future growth will be “rooted” in Abu Dhabi, Aldar Properties is keeping an eye open on likely opportunities in Egypt. The North African market - where it has set up a new subsidiary - has been rated as a priority as and when the master-developer looks to the outside, according to a top official.
Aldar’s got the cash to make it happen, boosted by pulling in Dh1 billion from asset disposals towards late last year. This included the Abu Dhabi Golf Complex as well as the district cooling unit on Saadiyat Island (to Tabreed).