Abu Dhabi’s largest developer Aldar Properties is to start marketing more than 1,000 villas, available only to Emiratis, on Yas Island next week.
West Yas, a planned development of 1,017 four and five-bedroom villas, will go on sale on September 12 at the Crowne Plaza hotel on Yas Island.
Aldar said that a first phase of off-plan villas would be offered at the event for prices starting at Dh4 million. It did not say how many homes would be included in the first phase of sales.
The Abu Dhabi-listed company added that it would not charge a service fee at the non-gated development.
Community facilities will include a mosque for 2,000 worshippers, two schools – one of which will be operated by Aldar Academies – a retail centre, sports facilities, a petrol station and extensive landscaping and greenery in open public spaces.
The villas, located along the island’s mangroves, are expected to be handed over to buyers at the end of 2017.
The sales launch date will coincide with Cityscape Global, the property exhibition due to take place in Dubai next week.
“This project delivers on our strategy to launch new developments that can drive the completion of Yas Island,” said the Aldar chief executive Mohammed Al Mubarak.
The project was announced at the Cityscape Abu Dhabi property exhibition in April as part of Aldar’s plans to build 2,000 off-plan homes as it banks on a shortage of supply in the capital.
In June the developer launched Meera Shams, two 26-storey towers with 408 one-, two- and three-bedroom apartments, which is aimed at residents on a salary between Dh20,000 and Dh30,000 a month.
According to the property broker Asteco, sales prices in the capital remained stable between April and June this year after some steep rises in previous quarters, but apartment prices are 4 per cent higher year-on-year.
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