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FINANCIAL NEWS
Aldar establishes USD1.36bn residential developments
21 Apr 2014
(MENAFN) The Chairman of Abu Dhabi developer Aldar Properties confirmed the establishment of three new residential developments in UAE’s capital, with a total of USD1.36 billion. The project is one of 23 new projects set to be launched in the next few years, Arabian Business reported.
The three establishments include The Ansam development, which will be built in stages, the first of which includes 540 apartments, Al Hadeel development with over 230 apartments and townhouses and the third one will be located on Nareel Island, near the city center of Abu Dhabi.
“With leasing and sales activity in Abu Dhabi picking up significantly in the last year, this is the right time for Aldar to embark on the next phase of development, with the launch of well-designed projects that respond closely to end-user demand and support the emirate’s economic progress,” Aldar deputy chief executive said in a statement.
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