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Dubai: UAE’s developers are pivoting towards villa launches – Abu Dhabi’s Aldar has confirmed the third release of its ‘Noya’ cluster, with 189 homes priced from Dh2.41 million. An earlier release of 480 villas – located on Yas Island - got sold out within 48 hours last month. It included many first-time buyers. The first in the series was in November last year, and was also the first attempt by a UAE developer to test the offplan demand since the COVID-19 spread. Rashed Al Omaira, Chief Commercial Officer at Aldar Development, said: “The strong response to the first two phases ...

SHARE Aldar Properties, Abu Dhabi’s biggest developer by market value, announced plans to build 189 detached villas at the Noya Luma development on Yas Island. This move comes after the delivery of the first two phases of the development. The latest phase, which includes three, four and five-bedroom detached villas, is in response to customer demand for larger options, Aldar said yesterday. The company said there was significant buyer interest in four-bedroom villas during the first two phases. Prices for three-bedroom units start from Dh2.41 million ($656,145) while four and five-bedroom v...

Prices start from Dh2.41 million and sales commence on May 29

Aldar Q1 net profit grows 80% to Dh544m on higher sales Filed on May 11, 2021 Talal Al Dhiyebi, Group Chief Executive Officer (CEO) of Aldar Properties. One-off gain due to an earlier transaction with ADQ also boosts profit. Abu Dhabi’s largest property developer Aldar on Tuesday said its net profit for the first quarter (Q1) of the financial year (FY) 2021 jumped 80 per cent to Dh544 million(m), as against Dh302m for the corresponding period last year on higher sales as well as a one-off gain related to the completion of the previously announced transaction with ADQ. But if adjuste...

Aldar posts Dhs544m net profit 11 May 2021 The company said in a statement that its revenue increased 16% to Dhs2.0 billion. WAM Aldar Properties reported Dhs544 million in net profit for Q1-2021, a growth of 80 per cent year-on-year (YoY). The company said in a statement that its revenue increased 16% YoY to Dhs2.0 billion, driven by a strong increase in property development sales and a ramp-up of the project management business. Gross profit rose 11% YoY to Dhs776 million, with a significantly higher contribution from Aldar Development. Aldar recorded a one-off g...