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FINANCIAL NEWS
Abu Dhabi’s Aldar Properties secures contract to set up 996 villas
16 Apr 2013
(MENAFN) Aldar Properties chairman, Ali Eid al-Muhairi, announced that the company has secured a contract from the Abu Dhabi housing Authority to establish 996 villas in the emirate, reported Arabian Business.
Al-Muhairi added that the project will be located in Abu Dhabi’s Al Falah area.
The chairman said that in the first quarter, the real estate developer has sold 125 villas in Al Raha beach, and is already constructing 4,857 villas in the area, of which 2,079 have been delivered.
He noted that by the end of 2013, home prices in the UAE capital will rise between 2 and 5 percent.
It is worth noting that Abu Dhabi’s property market is projected to post an expansion of 2 percent in 2013.
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