Aldar Properties has said that it will launch the second phase of its Dh6 billion Yas Acres project after generating more than Dh1bn by selling out the first phase.
The company said that it plans to start selling 125 homes under the second phase, which will be a mix of three-bedroom town houses, three- and four-bedroom duplexes, and four- to six-bedroom villas. Prices will start from Dh2.9 million.
Mohamed Al Mubarak, the chief executive of Aldar Properties, said: “We are extremely pleased by the response that the first phase of Yas Acres has generated. With the launch of the second phase we are confident that Yas Acres will be the next successful chapter in the Yas Island story.
“We believe that Yas Acres represents everything that people, and families in particular, will want from a home. The quality of the villas and town houses and the design of the community will make Yas Acres one of Abu Dhabi’s most attractive places to live.”
In total, 1,315 new homes are being built at Yas Acres on an 811,108 square metre site that will include a golf course, club house, parks and schools. The five- and six-bedroom villas being launched under phase two will have golf course views.
The project was unveiled by the developer in April, and work has already started on site. It is due to complete in 2019.
In the first quarter of 2016, Aldar Properties reported a 15 per cent year-on-year hike in profits to Dh654m. Revenue was 4 per cent higher at Dh1.23bn.
Follow The National’s Business section on Twitter