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Aldar generates more than Dh5bn in sales from new housing developments

thenationalnews.com · 14h · first reportShare

Aldar Properties , Abu Dhabi’s biggest listed developer, generated more than Dh5 billion ($1.36 billion) in sales across two new residential housing projects in Saadiyat and Yas islands. UAE citizens accounted for 31 per cent of total buyers at the Talay and Yas Riva Reserve projects, Aldar said in a statement on Tuesday to the Abu Dhabi Securities Exchange, where its shares are traded. People from the UK, Russia, Jordan and India were among the top buyers of the remaining proportion. “The continued demand we are seeing, from Emiratis, residents and international buyers, reflects confidence in the emirate,” said Jonathan Emery, chief executive of Aldar Development. Abu Dhabi’s property market continues to perform strongly despite uncertainty stemming from the Iran war. Total real estate transactions in the first six months rose 112 per cent year-on-year to hit Dh117 billion, with transaction volumes rising 61.7 per cent to 16,838, according to the Abu Dhabi Real Estate Centre. Property