Abu Dhabi’s Aldar Development has sold out its newly launched Noya Luma development within four hours, accounting for sales of $152 million (AED 560 million).
The developer said 53% of purchasers of the 189 standalone villas, for which construction is due to begin in November this year, are under 40 and 31% were women.
The villa development is the third period of the developer’s Noya project on Yas Island. Aldar said UAE nationals addressed the biggest nationality group among purchasers at 50%, followed by Lebanon, Jordan, Canada, and Syria. Almost 3/4 – 73% – were purchasing an Aldar property interestingly, the organization said.
Rashed Al Omaira, Chief Commercial Officer at Aldar Development, said: “To satisfy the needs of our customers, we made the decision to only offer standalone villas at Noya Luma following the significant interest registered in villas at the first two phases and this has proven to be a very successful approach.
“Similar to other recent launches, we saw growing interest from overseas buyers at Noya Luma and we expect this trend to continue as more and more ex-pats realize the benefits of Abu Dhabi’s recently implemented real estate, residency, and investment reforms.”
Aldar provided that the costs of three-bedroom villas started from AED 2.41 million ($653,500). Deliveries are predicted to begin in February 2024.