(MENAFN- Emirates News Agency (WAM)) Aldar Properties has announced strong sales performance for the first half of the year with AED1.9 billion committed in sales for land plots on Nareel Island, Al Merief and unit sales of Meera at Shams Abu Dhabi.
Mohammad Al Mubarak, Chief Executive Officer of Aldar, said, "We have seen very strong sales activity across our new projects in the first half of 2015. Together these projects have generated AED1.9 billion in committed sales and this underscores our strategy of bringing the right products to the market at the right time. We continue to see demand in Abu Dhabi for infrastructure enabled land and high quality residential communities and will continue to launch projects that meet this demand and support the growth of the Emirate."
Aldar has seen strong demand for plot sales at Nareel Island close to the Al Bateen area in Abu Dhabi. Over two sales phases, Aldar has achieved AED1 billion in committed sales. So far, Aldar has sold 70 plots to the Emirati community, allowing them to develop bespoke homes on the island.
In March, Aldar successfully completed the sale of all 281 land plots at Al Merief in Khalifa City. The development will feature villas and apartments and will be complemented by parks, mosques, a school operated by Aldar Academies, as well as retail outlets and a petrol station. The 690,000 sq.m. high-quality residential community will enable Emirati owners to build homes for generations to come or lease them for investment purposes. Al Merief was fully sold in an off-market sales process, generating over AED600 million in revenue.
In June 2015, Aldar launched Meera at Shams Abu Dhabi, a residential development on Reem Island. Meera phase one sales are complete with 150 units sold and AED220 million committed.
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