Aldar completed the sale of all houses in the newly launched “Magnolias” Yas Acres

Aldar Properties (‘Aldar’) announced that Magnolias, the third phase of its flagship Yas Acres development project on Yas Island, has sold out. Prior to this, the first three phases of Yas Acres had strong demand, and the three phases of Aldar’s adjacent Noya development project were quickly sold out.

Magnolias sold 312 spacious townhouses, duplex villas and villas with sales exceeding 1 billion dirhams, demonstrating the continued strong demand for well-designed and well-located homes in the Abu Dhabi market. Aldar is currently finalizing the next phase of Yas Acres, of which 120 new properties in’Dhalias’ will be put on the market before the end of 2021.

With the successful vaccination program in Abu Dhabi, the new golden visa program and other investment-friendly reforms, the capital has become a more attractive proposal for international investors. Aldar’s strategic focus on the investment group is paying off, with 16% of Magnolias’ total sales coming from overseas international buyers. This represents the highest percentage of overseas sales of any Aldar development project launched in 2021. Overall, international and resident expatriates account for 55% of the customer base, while UAE nationals account for the remaining 45%. 78% of buyers are first-time buyers of Aldar homes.

Commenting on the strong sales performance of Yas Acres, Rashed Al Omaira, Chief Commercial Officer of Aldar Development, said: “Yas Acres is one of the most popular communities in Abu Dhabi, and we see the huge demand for Magnolias cementing this. Fame. For For investors and owner-occupiers who wish to use Abu Dhabi as a long-term residence, spacious, lifestyle-focused residences are an attractive opportunity.

“Our strategy of increasing overseas buyers in development projects is working, and we are proud to welcome a new wave of international investment into Abu Dhabi. The city’s real estate fundamentals and Yas Island’s appeal as a world-class destination reflect In sales activities. We expect that the demand for properties on Yas Island will continue to increase, which supports our reasons for launching the next phase of Yas Acres this year.”

The construction of Magnolias will begin in the first quarter of 2022, and the handover is expected to begin in the third quarter of 2024.