Aldar Properties (Aldar) has announced the successful sell-out of its recently launched Yas Park Gate community on Yas Island, achieving AED1.1 billion in sales.
Nearly 10% of transactions were made by non-residents, highlighting Abu Dhabi’s popularity with tourists. Aldar said in a statement on Monday that Emirati customers bought 85% of the products, with expatriate residents of the UAE accounting for 5%.
95% of Yas Park Gate customers bought their first Aldar property, demonstrating the enormous success of Aldar’s goal to grow its customer base. In addition, 35% of clients were female and 49% of buyers were under the age of 40.
Aldar simultaneously created the neighbouring Yas Park Views neighbourhood, which consists of 341 independent villas on the doorstep of Yas Park Gate, in response to the rapidly increasing customer demand. Yas Park Views is the only North Yas neighbourhood of its kind to provide single-family homes, resulting in an elite neighbourhood that will be open for purchase by people of all nationalities starting on November 23.
Single-family villas with three, four, or five bedrooms are available for purchase in Yas Park Views.
Commenting on the launch, Rashed Al Omaira, Chief Commercial Officer at Aldar Development, said, “The strong response to Yas Park Gate from both resident buyers and local and international investors is a testament to the continued appetite to live and invest in Yas Island’s communities. Yas Park Views offers customers a final opportunity to own a single-family home in one of the capital’s most desired locations.
“Each aspect of Yas Park Views has been carefully planned in response to our customer’s changing needs, so we expect to see significant demand for this exclusive community.”
The 115,000 sqm Yas Park, which is more than half the size of Yas Mall and will serve as the standard for landscape design for the entire North Yas master development, is conveniently located near the development. For the first time, Yas Park will have a variety of attractions all in one location. A promenade connecting each feature will also serve as a walking and running track around the park’s perimeter.
Yas Park Views’ construction is scheduled to start in Q2 2023, while handovers are anticipated to start in Q2 2026.