{"id":10418,"date":"2016-04-11T20:23:47","date_gmt":"2016-04-11T13:23:47","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/abu-dhabi-developer-aldar-to-build-1315-villas-on-yas-island\/"},"modified":"2016-04-11T21:21:06","modified_gmt":"2016-04-11T14:21:06","slug":"abu-dhabi-developer-aldar-to-build-1315-villas-on-yas-island","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/abu-dhabi-developer-aldar-to-build-1315-villas-on-yas-island\/","title":{"rendered":"Abu Dhabi developer Aldar to build 1,315 villas on Yas Island"},"content":{"rendered":"


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\nAbu Dhabi’s largest property developer has announced plans to build more than 1,000 villas on Yas Island.Aldar Properties unveiled plans for Yas Acres, a Dh6 billion project of 1,315 new villas which it plans to build on the northern shores of Yas Island alongside a golf course, club house, parks and schools.At a press conference on Monday in the build-up to Cityscape Abu Dhabi, Aldar said that the 811,108 square metre villa project would be aimed at expatriates and locals who were looking for villas in the Dh3 million to Dh5m price bracket.
\n“At the moment buyers in Abu Dhabi don’t have much choice when it comes to villas,” said Greg Fewer, Aldar’s chief financial officer. “They can either buy on Saadiyat where there is a very good product but the prices are very high, or they can buy in Al Reef, which is also a very good product but aimed at a more mass-market demographic. At the moment there isn’t anything in between and we believe there is a real demand for it.”
\nAldar said that the villas would range between three-bedroom town houses which it planned to sell for Dh2.9m to huge palaces with undisclosed prices. It said that the average price for a three-bedroom town house worked out at about Dh1,100 per square foot – slightly lower than the Dh1,250 per sq ft at which Cluttons estimates current villa prices stand.Aldar said it would fund the development from its own cash reserves and through off-plan sales. The company said that it would not start selling off- plan villas at Cityscape, but that it planned to hold a separate sales launch later in the year.
\nYas Acres, which is scheduled to start on site almost immediately and is expected to complete at the end of 2019, will be Aldar’s largest and most ambitious project to be attempted since the heady days before the global financial crisis.The Aldar chairman Abubaker Seddiq Al Khoori, said that he was confident enough to press ahead with such a large project despite the gloomy economic climate in Abu Dhabi caused by low oil prices and a swath of job losses and other cutbacks for three reasons.
\n“Despite falling oil prices, all five of the projects that we have launched so far have been very successful and have sold faster than we anticipated,” he said. “Aldar has had a very balanced strategy and has not rushed out and built too many projects or too many units. And thirdly there are still a lot of our projects due to be completed over the next two or three years which are government projects, and which are driving growth in the economy.”
\nThe news came as property brokers published a series of downbeat reports on the Abu Dhabi market on the eve of the capital’s annual Cityscape property show due to open today.According to Cluttons, demand from customers in the capital developers are building homes which are too expensive for the majority of customer demand.Aldar said that it is already building so-called affordable housing at its Mayan project which, was launched last year on Abu Dhabi’s Reem Island but that it had also identified a need for mid-market villas in the capital.
\nlbarnard@thenational.aeFollow The National’s Business section on Twitter
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\nSource : thenational.ae
\nRead more…Abu Dhabi developer Aldar to build 1,315 villas on Yas Island<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Abu Dhabi’s largest property developer has announced plans to build more than 1,000 villas...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-10418","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-2I2","jetpack-related-posts":[{"id":24859,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/aldars-yas-acres-development-almost-sold-out\/","url_meta":{"origin":10418,"position":0},"title":"Aldar's Yas Acres development almost sold out","date":"September 4, 2016","format":false,"excerpt":"\r Aldar on Sunday said it has sold 90 per cent of the villas and town houses launched to date in the first two precincts within Yas Acres, the Abu Dhabi developer's flagship golf and waterfront villa development on Yas Island.Almost 80 per cent of sales are from new customers\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":1153,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/arabtec-awarded-dh2bn-contract-to-build-1017-villas-on-abu-dhabis-yas-island\/","url_meta":{"origin":10418,"position":1},"title":"Arabtec awarded Dh2bn contract to build 1,017 villas on Abu Dhabi’s Yas Island","date":"January 11, 2016","format":false,"excerpt":"\r \r Dubai contractor Arabtec has been awarded a Dh2 billion contract by Abu Dhabi\u2019s Aldar Properties to build 1,017 villas on Yas Island.The contract represents the final package to be awarded for the West Yas development following infrastructure, public realm, school, clubhouse, retail and mosque packages, Aldar said in\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":53990,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/aldar-awards-main-contract-for-yas-acres-development-to-trojan\/","url_meta":{"origin":10418,"position":2},"title":"Aldar awards main contract for Yas Acres development to Trojan","date":"May 8, 2017","format":false,"excerpt":"\r Abu Dhabi's largest listed property developer, Aldar, said on Sunday it has awarded Trojan General Contracting a Dh1.7 billion main construction contract for the first three precincts of its Yas Acres development on Yas Island in Abu Dhabi. In a note to the Abu Dhabi bourse, Aldar said Trojan\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":53988,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/aldar-awards-main-construction-contract-of-yas-acres-development-to-trojan\/","url_meta":{"origin":10418,"position":3},"title":"Aldar awards main construction contract of Yas Acres development to Trojan","date":"May 8, 2017","format":false,"excerpt":"\r Abu Dhabi's largest listed property developer, Aldar, said on Sunday it has awarded Trojan General Contracting a Dh1.7 billion main construction contract for the first three precincts of its Yas Acres development on Yas Island in Abu Dhabi. In a note to the Abu Dhabi bourse, Aldar said Trojan\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":37326,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/aldar-properties-to-open-west-yas-villa-sales-to-non-emiratis\/","url_meta":{"origin":10418,"position":4},"title":"Aldar Properties to open West Yas villa sales to non-Emiratis","date":"December 7, 2016","format":false,"excerpt":"\r Aldar Properties has opened up sales of off-plan villas at its West Yas development to all nationalities. Abu Dhabi's largest listed property developer had started marketing the development of 1,017 four bedroom and five bedroom villas on Yas Island last year exclusively to Emiratis.The villas, located along the island's\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":37330,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/aldar-properties-opens-west-yas-villa-sales-to-expats\/","url_meta":{"origin":10418,"position":5},"title":"Aldar Properties opens West Yas villa sales to expats","date":"December 7, 2016","format":false,"excerpt":"\r Aldar Properties has opened up sales of off-plan villas at its West Yas development to all nationalities. Abu Dhabi's largest listed property developer had started marketing the development of 1,017 four bedroom and five bedroom villas on Yas Island last year exclusively to Emiratis.The villas, located along the island's\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/10418"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=10418"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/10418\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=10418"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=10418"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=10418"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}