Abu Dhabi’s top listed property development company Aldar Properties has announced today that its the Gate and Arc Towers project on Al Reem Island has been fully leased after being on the market for less than one year.

This highlights the growing demand for quality residential property in the UAE’s capital. The Gate and Arc Towers development located in the landmark district of Shams Abu Dhabi comprise 3533 units of which Aldar retained 1300 units as part of its recurring-income portfolio, the Company revealed in its statement to the Abu Dhabi Securities Exchange (ADX) on Sunday, adding that the earlier in 2014, Aldar fully leased its Al Rayanna residential gate community situated next to Abu Dhabi Golf Club after being on the market for only six months.

Commenting on the announcement, Aldar Properties CEO Mohammed Al Mubarak said: “Reaching full occupancy a year ahead of schedule is a testament to the quality of The Gate and Arc Towers development and Aldar’s ability to meet the demands of the market for quality residential property. The Shams Abu Dhabi area is one of the most sought-after communities in the capital, providing residents with modern accommodation and amenities in a popular district. Leasing activity has been very strong this year with bulk and end-users tenants, helping to strengthen our recurring income portfolio.”

Residents at The Gate and Arc Towers benefit from a range of facilities including sky court gardens and terraces, swimming pools and a lazy river, tennis, squash and multi-purpose courts, a gymnasium, children’s play areas and sauna. Secure underground parking and 24-hour security complete this high quality development. Moreover, they enjoy easy access to BOUTIK Sun & Sky, which hosts Waitrose supermarket along with several other food and beverage and convenient outlets, and a pharmacy.