Within 24 hours of its public launch, The Sustainable City – Yas Island, developed by Aldar Properties in partnership with Diamond Developers, had 100% of its sales closed, bringing in more than Dh1 billion.
A further 352 townhomes and condominiums scheduled for release in subsequent phases have now been placed on sale due to the high demand.
A total of 512 residences were available during the project’s first phase, and 76% of them were bought by foreigners, including 24% foreign investors, illustrating Aldar’s expanding global clients. Approximately 87% of consumers purchased their first Aldar property, and 66% of the purchasers were under 45.
Jonathan Emery, CEO at Aldar Development, said: “From formulating its Green Agenda to declaring 2023 as the Year of Sustainability, the UAE continues to prioritize sustainable development. The success we have seen with The Sustainable City – Yas Island is an endorsement of the government’s forward-thinking policies and clearly indicates buyers are looking for more sustainable ways of living. It also provides further impetus for us to deliver more developments of this type across the region alongside Diamond Developers.
“Selling out the first phase of the community is a fantastic result for our business and caps off a perfect week having launched our net zero plan and a number of other commitments across our business during Abu Dhabi Sustainability Week.”
The Sustainable City – Yas Island’s sales launch was Aldar’s first entirely paperless sales event, allowing clients to complete their purchases online using electronic signatures.
The project’s construction will start in Q2 2023, and the first handovers are anticipated in Q4 2025.