Emirates News Agency – Aldar, Diamond Developers sell out phase 1 of ‘Sustainable City – Yas Island’ in 24 hours

ABU DHABI, 22nd January, 2023 (WAM) — Yas Island, a sustainable city launched by Aldar Properties (Aldar) in partnership with Diamond Developers, achieved 100% sales within 24 hours of its public launch.

Reflecting the huge success of Aldar’s first development partnership, sales for the first phase of the sustainability-focused community surpassed AED1 billion, with the remaining 352 townhouses and apartments now on sale.

Of the 512 homes available for sale in the first phase of the project, 76 per cent of the units were purchased by expatriates, 24 per cent of which were overseas investors, reflecting Aldar’s growing international customer base. 87% of customers bought their first Aldar property, demonstrating the creation of a new customer base looking for a more sustainable lifestyle. 66% of buyers are under the age of 45, which also indicates a strong demand for sustainable properties and communities from a new customer base and younger generations.
Commenting on the development’s rapid sell-out, Jonathan Emery, CEO of Aldar Development, said: “From setting a green agenda to declaring 2023 the year of sustainability, the UAE continues to prioritize sustainability. The success we are seeing in Sustainable City – Yas Island is a nod to the government’s forward-looking policies and is a clear sign that buyers are looking for more sustainable lifestyles.

It also furthers our drive to deliver more of these developments in the region with Diamond Developers.
“Phase 1 of the sold out community has been a fantastic result for our business and paints the perfect week with the launch of our Net Zero initiative and many other commitments to our business during Abu Dhabi Sustainability Week Come to a full stop.”
The Sustainable City – Yas Island sales launch was Aldar’s first fully paperless sales event, allowing customers to complete transactions digitally using electronic signatures.

The digitization of real estate transactions has been achieved through the introduction of the UAE Electronic Transactions and Trust Services Law (E-Law), providing customers with a better and more convenient experience and completing property purchases in a more environmentally friendly manner.
Sustainable Cities – Yas Island, announced during Abu Dhabi Sustainability Week in January 2022, is the product of a joint venture with Diamond Developers, the mastermind behind the Sustainable Cities brand. Construction on the project will begin in the second quarter of 2023, with the first handover expected in the fourth quarter of 2025.