Aldar Properties, Abu Dhabi’s biggest developer by market value, is launching the third of phase of the Yas Acres project as it continues to expand its portfolio amid strong demand for prime residential homes and a recovery of the UAE’s property market.
Aldar will release 312 new villas and town houses in its Yas Acres The Magnolias development that will be available for purchase by all nationalities from September 4, the company said on Sunday.
The new units in Magnolias are being offered for sale after Aldar completed construction on the two previous phases of Yas Acres.
The Abu Dhabi developer has unveiled several projects this year as the property market continues to recover from the coronavirus-induced slowdown on the back of economic stimulus measures and a rapid mass vaccination programme.
Homes in Magnolias will be competitively priced and customers can choose from two, three, and four-bedroom town houses, duplexes and villas with as many as six bedrooms, the company said.
“Following the success of our recent launches on Yas Island, we expect to see high demand for these homes, particularly from younger buyers looking for either an investment foothold or to lay down family roots in one of Abu Dhabi’s most desirable locations,” said Rashed Al Omaira, chief commercial officer at Aldar Development.
The coming handover of twofour54’s Yas Creative Hub in Yas South will bring a working population of more than 10,000 to the island, he said.
In May, Aldar sold Noya Luma, the third phase of its Noya project on Yas Island, within four hours of launch and generated Dh560 million ($95.2m) in sales, it said in a statement.
The developer cumulatively booked more than Dh2.5 billion from property sales in the development's three phases – Noya, Noya Viva and Noya Luma, it said at the time.
Earlier this month Aldar said it sold 71 plots of land at its Al Gurm development in the capital. It also sold all 83 villas at its Saadiyat Island development – Saadiyat Reserve, The Dunes – to customers from 14 countries in May.
Villa prices in Dubai and Abu Dhabi grew by 3.9 per cent and by 2.2 per cent, respectively, on a quarterly basis at the end of the first quarter, property consultancy Chestertons said in a report earlier this year.
Aldar plans to unveil five new projects in 2021 on Reem, Saadiyat and Yas Islands as it aims to equal or surpass its 2020 sales of Dh3.6bn ($980m), Jonathan Emery, chief executive of Aldar Development, told The National in May.
In August, Aldar reported that second-quarter profit jumped 7.6 per cent to Dh520m as revenue for the period climbed 9 per cent annually to about Dh2.2bn. The company recorded Dh2.35bn in quarterly sales, its highest, it said at the time.
If you go…
Emirates launched a new daily service to Mexico City this week, flying via Barcelona from Dh3,995.
Emirati citizens are among 67 nationalities who do not require a visa to Mexico. Entry is granted on arrival for stays of up to 180 days.
match info
Maratha Arabians 138-2
C Lynn 91*, A Lyth 20, B Laughlin 1-15
Team Abu Dhabi 114-3
L Wright 40*, L Malinga 0-13, M McClenaghan 1-17
Maratha Arabians won by 24 runs
COMPANY PROFILE
Company name: Blah
Started: 2018
Founder: Aliyah Al Abbar and Hend Al Marri
Based: Dubai
Industry: Technology and talent management
Initial investment: Dh20,000
Investors: Self-funded
Total customers: 40
Killing of Qassem Suleimani
Our legal consultant
Name: Dr Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
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VEZEETA PROFILE
Date started: 2012
Founder: Amir Barsoum
Based: Dubai, UAE
Sector: HealthTech / MedTech
Size: 300 employees
Funding: $22.6 million (as of September 2018)
Investors: Technology Development Fund, Silicon Badia, Beco Capital, Vostok New Ventures, Endeavour Catalyst, Crescent Enterprises’ CE-Ventures, Saudi Technology Ventures and IFC
MATCH INFO
Manchester United 1 (Rashford 36')
Liverpool 1 (Lallana 84')
Man of the match: Marcus Rashford (Manchester United)
PAKISTAN SQUAD
Pakistan - Sarfraz Ahmed (captain), Azhar Ali, Fakhar Zaman, Imam-ul-Haq, Babar Azam, Shoaib Malik, Mohammad Hafeez, Haris Sohail, Faheem Ashraf, Shadab Khan, Mohammad Nawaz, Mohammad Amir, Hasan Ali, Aamer Yamin, Rumman Raees.
PREMIER LEAGUE FIXTURES
Tuesday (UAE kick-off times)
Leicester City v Brighton (9pm)
Tottenham Hotspur v West Ham United (11.15pm)
Wednesday
Manchester United v Sheffield United (9pm)
Newcastle United v Aston Villa (9pm)
Norwich City v Everton (9pm)
Wolves v Bournemouth (9pm)
Liverpool v Crystal Palace (11.15pm)
Thursday
Burnley v Watford (9pm)
Southampton v Arsenal (9pm)
Chelsea v Manchester City (11.15pm)
Result
2.15pm: Maiden Dh75,000 1,950m; Winner: Majestic Thunder, Tadhg O’Shea (jockey), Satish Seemar (trainer).
2.45pm: Handicap Dh80,000 1,800m; Winner: Tailor’s Row, Royston Ffrench, Salem bin Ghadayer.
3.15pm: Handicap Dh85,000 1,600m; Winner: Native Appeal, Adam McLean, Doug Watson.
3.45pm: Handicap Dh115,000 1,950m; Winner: Conclusion, Antonio Fresu, Musabah Al Muhairi.
4.15pm: Handicap Dh100,000 1,400m; Winner: Pilgrim’s Treasure, Tadhg O’Shea, Satish Seemar.
4.45pm: Maiden Dh75,000 1,400m; Winner: Sanad Libya, Richard Mullen, Satish Seemar.
5.15pm: Handicap Dh90,000 1,000m; Winner: Midlander, Richard Mullen, Satish Seemar
Results
6.30pm Al Maktoum Challenge Round-3 Group 1 (PA) US$100,000 (Dirt) 2,000m, Winner Bandar, Fernando Jara (jockey), Majed Al Jahouri (trainer).
7.05pm Meydan Classic Listed (TB) $175,000 (Turf) 1,600m, Winner Well Of Wisdom, William Buick, Charlie Appleby.
7.40pm Handicap (TB) $135,000 (T) 2,000m, Winner Star Safari, Mickael Barzalona, Charlie Appleby.
8.15pm Handicap (TB) $135,000 (D) 1,600m, Winner Moqarrar, Fabrice Veron, Erwan Charpy.
8.50pm Nad Al Sheba Trophy Group 2 (TB) $300,000 (T) 2,810m, Winner Secret Advisor, William Buick, Charlie Appleby.
9.25pm Curlin Stakes Listed (TB) $175,000 (D) 2,000m, Winner Parsimony, William Buick, Doug O’Neill.
10pm Handicap (TB) $135,000 (T) 2,000m, Winner Simsir, Ronan Whelan, Michael Halford.
10.35pm Handicap (TB) $175,000 (T) 1,400m, Winner Velorum, Mickael Barzalona, Charlie Appleby.
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Real Madrid 2
Vinicius Junior (71') Mariano (90 2')
Barcelona 0
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Company: Justmop.com
Date started: December 2015
Founders: Kerem Kuyucu and Cagatay Ozcan
Sector: Technology and home services
Based: Jumeirah Lake Towers, Dubai
Size: 55 employees and 100,000 cleaning requests a month
Funding: The company’s investors include Collective Spark, Faith Capital Holding, Oak Capital, VentureFriends, and 500 Startups.
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Manchester United 2
(Martial 30', McTominay 90 6')
Manchester City 0
Results
5pm Maiden (PA) Dh80,000 1,400m
Winner No Riesgo Al Maury, Szczepan Mazur (jockey), Ibrahim Al Hadhrami (trainer)
5.30pm Handicap (PA) Dh80,000 1,600m
Winner Marwa W’Rsan, Sam Hitchcott, Jaci Wickham.
6pm Handicap (PA) Dh80,000 1,600m
Winner Dahess D’Arabie, Al Moatasem Al Balushi, Helal Al Alawi.
6.30pm Handicap (PA) Dh80,000 2,200m
Winner Safin Al Reef, Connor Beasley, Abdallah Al Hammadi.
7pm Wathba Stallions Cup Handicap (PA) Dh70,000 2,200m
Winner Thulbaseera Al Jasra, Shakir Al Balushi, Ibrahim Al Hadhrami.
7.30pm Maiden (TB) Dh 80,000 2,200m
Winner Autumn Pride, Szczepan Mazur, Helal Al Alawi.
Ahmed Raza
UAE cricket captain
Age: 31
Born: Sharjah
Role: Left-arm spinner
One-day internationals: 31 matches, 35 wickets, average 31.4, economy rate 3.95
T20 internationals: 41 matches, 29 wickets, average 30.3, economy rate 6.28
