Gulf Construction Online - $463M residential community unveiled

Real Estate

Alreeman II masterplan ... the project will feature 1,690 villa plots.

$463M residential community unveiled

01 July 2019

Leading UAE developer Aldar Properties has announced the launch of Alreeman II, a Dh1.7-billion ($463 million) masterplanned residential community in the Alshamkha area of Abu Dhabi, available exclusively for purchase by Emiratis.

Alreeman II follows the success of Alreeman, launched this January which generated Dh1.6 billion ($435 million) in sales.

Spread across a 2.4-million-sq-m area, the development features 1,690 villa plots, which range from 500 to 1,000 sq m in size. Residents will benefit from a wide range of amenities including a school, retail offerings, parks, mosques, and running and cycling tracks, says the Abu Dhabi developer.

The 2.4-million-sq-m development provides a wide range of amenities.

Alreeman II addresses pent up demand for affordable, infrastructure-enabled land plots where owners can build homes to their exact specifications and taste. Sales of the first phase of the land plots commenced on June 22, with prices starting from Dh690,000 ($187,820) per plot.

Construction work will kick off later this year, with the first handovers likely to begin from 2021-end, it adds.

Commenting on the launch, CEO Talal Al Dhiyebi, says: “Alreeman II builds on the incredible success of Alreeman, launched earlier this year. This expansion is a clear response to high demand among UAE nationals to create communities in the Alshamkha area and we are committed to delivering high quality and comfortable living spaces that meet these needs. We look forward to developing a new community that Emiratis can call home.”

Alreeman II’s masterplan has been oriented into clusters each with their own parks and amenities in order to create a strong sense of community, says the top official.

The development is located in close proximity to the Abu Dhabi International airport, key arterial highways and some of Abu Dhabi’s major infrastructure projects and lifestyle destinations, including Yas Island, Zayed City, New Al Falah, Masdar City, and Mohammed Bin Zayed City.