Aldar Properties, Abu Dhabi’s biggest listed developer, generated Dh3.1 billion ($844 million) from the sale of 786 villas and townhouses as the first two phases of its Dubai residential project sold out on strong demand from buyers.
The developer put 468 units up for sale in the first phase of its Haven by Aldar project, and “due to remarkable demand on launch day”, released the second phase with an additional 318 units, it said in a statement on Wednesday.
Overseas and expatriate resident buyers accounted for 77 per cent of sales, with UAE citizens making up the remaining 23 per cent.
Haven, a wellness-focused development, is the first of three new residential communities to be developed in Dubai as part of a joint venture between Aldar and Dubai Holding.
The final phase, which includes villas, townhouses and apartments, will go up for sale in early 2024, Aldar said.
“Hundreds” of people turned up at the company's sales centres in Dubai and Abu Dhabi for the launch, said Rashed Al Omaira, chief commercial officer at Aldar Development.
The response “confirms our long-held belief that new residential concepts are desired in the emirate by both local and international buyers”, he said.
Dubai's property market has been growing strongly this year as investor demand continues to boom on economic momentum as well as government initiatives such as residency permits for retired and remote workers, and the expansion of the 10-year golden visa programme.
The emirate recorded 116,116 new property transactions in the first nine months of 2023, up 33.8 per cent annually, the Dubai Land Department said this week.
The value of the deals also increased by 36.7 per cent during the period to about Dh429.6 billion amid continuing growth in the emirate's economy.
Dubai’s residential market also recorded its highest quarterly price rise in a decade in the July to September period this year, a report released this month by property consultancy ValuStrat found.
The ValuStrat Price Index covering Dubai’s residential market was up 6.1 per cent on a quarterly basis in the third quarter, with villa and apartment prices rising by 7.6 per cent and 4.8 per cent, respectively, during the period.
Aldar said 51 per cent of all buyers for its new project are under the age of 45, “indicating the desire of younger generations to reside in communities focused on health and wellness”.
Female buyers represented 24 per cent of sales and first-time buyers of an Aldar property accounted for 85 per cent of sales.
Construction of the first phase of the Haven development is due to begin in the second quarter of next year, with handovers expected in the third quarter of 2027, Aldar said.
%20Ramez%20Gab%20Min%20El%20Akher
%3Cp%3E%3Cstrong%3ECreator%3A%3C%2Fstrong%3E%20Ramez%20Galal%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStarring%3A%3C%2Fstrong%3E%20Ramez%20Galal%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3EStreaming%20on%3A%20%3C%2Fstrong%3EMBC%20Shahid%3C%2Fp%3E%0A%3Cp%3E%3Cstrong%3ERating%3A%20%3C%2Fstrong%3E2.5%2F5%3C%2Fp%3E%0A
More on animal trafficking
Some of Darwish's last words
"They see their tomorrows slipping out of their reach. And though it seems to them that everything outside this reality is heaven, yet they do not want to go to that heaven. They stay, because they are afflicted with hope." - Mahmoud Darwish, to attendees of the Palestine Festival of Literature, 2008
His life in brief: Born in a village near Galilee, he lived in exile for most of his life and started writing poetry after high school. He was arrested several times by Israel for what were deemed to be inciteful poems. Most of his work focused on the love and yearning for his homeland, and he was regarded the Palestinian poet of resistance. Over the course of his life, he published more than 30 poetry collections and books of prose, with his work translated into more than 20 languages. Many of his poems were set to music by Arab composers, most significantly Marcel Khalife. Darwish died on August 9, 2008 after undergoing heart surgery in the United States. He was later buried in Ramallah where a shrine was erected in his honour.
Springtime in a Broken Mirror,
Mario Benedetti, Penguin Modern Classics
The BIO
Favourite piece of music: Verdi’s Requiem. It’s awe-inspiring.
Biggest inspiration: My father, as I grew up in a house where music was constantly played on a wind-up gramophone. I had amazing music teachers in primary and secondary school who inspired me to take my music further. They encouraged me to take up music as a profession and I follow in their footsteps, encouraging others to do the same.
Favourite book: Ian McEwan’s Atonement – the ending alone knocked me for six.
Favourite holiday destination: Italy - music and opera is so much part of the life there. I love it.
Company profile
Date started: January, 2014
Founders: Mike Dawson, Varuna Singh, and Benita Rowe
Based: Dubai
Sector: Education technology
Size: Five employees
Investment: $100,000 from the ExpoLive Innovation Grant programme in 2018 and an initial $30,000 pre-seed investment from the Turn8 Accelerator in 2014. Most of the projects are government funded.
Partners/incubators: Turn8 Accelerator; In5 Innovation Centre; Expo Live Innovation Impact Grant Programme; Dubai Future Accelerators; FHI 360; VSO and Consult and Coach for a Cause (C3)
Killing of Qassem Suleimani
Why are asylum seekers being housed in hotels?
The number of asylum applications in the UK has reached a new record high, driven by those illegally entering the country in small boats crossing the English Channel.
A total of 111,084 people applied for asylum in the UK in the year to June 2025, the highest number for any 12-month period since current records began in 2001.
Asylum seekers and their families can be housed in temporary accommodation while their claim is assessed.
The Home Office provides the accommodation, meaning asylum seekers cannot choose where they live.
When there is not enough housing, the Home Office can move people to hotels or large sites like former military bases.
RESULTS
6.30pm Handicap (TB) $68,000 (Dirt) 1,200m
Winner Canvassed, Par Dobbs (jockey), Doug Watson (trainer)
7.05pm Meydan Cup – Listed Handicap (TB) $88,000 (Turf) 2,810m
Winner Dubai Future, Frankie Dettori, Saeed bin Suroor
7.40pm UAE 2000 Guineas – Group 3 (TB) $125,000 (D) 1,600m
Winner Mouheeb, Ryan Curatolo, Nicholas Bachalard
8.15pm Firebreak Stakes – Group 3 (TB) $130,000 (D) 1,600m
Winner Secret Ambition, Tadhg O’Shea, Satish Seemar
9.50pm Meydan Classic – Conditions (TB) $$50,000 (T) 1,400m
Winner Topper Bill, Richard Mullen, Satish Seemar
9.25pm Dubai Sprint – Listed Handicap (TB) $88,000 (T) 1,200m
Winner Man Of Promise, William Buick, Charlie Appleby
ELIO
Starring: Yonas Kibreab, Zoe Saldana, Brad Garrett
Directors: Madeline Sharafian, Domee Shi, Adrian Molina
Rating: 4/5
