Aldar Properties releases 551 homes

19 Jul 2011

(MENAFN) Aldar Properties, the Abu Dhabi developer, has announced the release of 551 homes in the Raha Beach development Al Zeina, on Reem Island to foreign buyers in an attempt to increase the number of residential communities in the area and to revive the slow real-estate sales market, reported The National.

Meanwhile, the Abu Dhabi Government has ordered the release of 488 out of 7,500 housing units for UAE citizens in Yas Island, Al Ain and the Western Region. As a part of the national housing program which includes the construction of 13,000 homes

It is worth noting that Al Zeina development project includes a total of 952 apartments, 180 villas and retail space on 500 meters of beach. Moreover, it contains a Waitrose supermarket, 6 swimming pools, 6 gyms and private boat moorings.

Paul Preston, the chief executive of Elsyian Real Estate said that prices for apartments in Al Zeina hit the highest price at USD299 a square foot, but now it is about half that price.

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