Gulf Construction Online - Aldar’s newest freehold sold out within hours

Real Estate

Aldar’s newest freehold sold out within hours

01 December 2020

Leading Abu Dhabi developer Aldar Properties has announced that its newest residential community, Noya, located in the heart of Yas Island, got sold out within four hours of the public launch, thus generating over Dh1 billion ($272.2 million) in sales.

The launch of the freehold property demonstrates the strong interest in the Abu Dhabi real estate market for premium products.

The key development features 510 residences, including four-bedroom villas and two- and three-bedroom townhouses, with prices starting from Dh1.49 million.

Construction of Noya is due to begin in Q2 next year, with handovers set to commence in Q2 2023.

Located in an investment zone, Noya was open to customers of all nationalities, where 60 per cent of end-buyers were UAE nationals and 40 per cent were non-UAE nationals.

Noya attracted a younger customer base with 50 per cent of buyers under the age of 45 and 20 per cent under 30, representing the highest youth penetration.

Rashed Al Omaira, Executive Director (Commercial) Aldar Properties, says: “The strong response we received on Noya is a prime example of our commitment to deliver the right property that meets the market demand and expectations of customers.”

“It is also a clear testament to the strength of Abu Dhabi’s real estate market and the solid appetite for well-priced, premium developments in prime locations like Yas Island,” states Al Omaira. “As one of Abu Dhabi’s most sought-after destinations, Yas Island continues to attract a diverse mix of buyers who are looking for the right balance of quality, location and lifestyle, and we are very excited to offer our customers the opportunity to invest and own properties in such unique developments.”

Noya is Aldar’s latest residential community on Yas Island, which is home to Water’s Edge, demonstrating the continued appeal for residences in this prime destination in Abu Dhabi. Each unit will have its own outdoor space. The community offers an attractive range of amenities including community gardens, sports facilities, a community pool with adult and kid’s sections, splash pad, gym, and multi-purpose room, along with access to the island’s schools, golf courses, retail and entertainment destinations, and park networks for relaxation and leisure.