Abu Dhabi - Mubasher: Aldar Properties, a leading property developer based in Abu Dhabi, on Monday said it has achieved AED 420 million in sales from the first phase of its latest development Alreeman II at the Alshamkha area in Abu Dhabi, with over 75% of the land plots sold.

This comes following the successful launch of Alreeman in January 2019, upon which the company logged AED 1.6 billion in sales, according to a press release.

Aldar will hold a special sales event next Saturday, 29 June, in Al Ain at the Yas Marina Conference Centre to serve its wide customer base across the emirate.

The real estate firm also indicated that 70% of those who purchased lands at Alreeman II on the opening day of sales were brand new customers, while 20% of customers chose to buy their land plot on a 50/50 payment plan.

Maan Al Awlaqi, executive director-commercial at Aldar, said: “The strong response we received on Alreeman II is a prime example of customer appetite and a great testament to the strength of Abu Dhabi’s real estate market.”

“This launch confirms that there is pent up demand for affordable, infrastructure enabled land plots in Abu Dhabi, where owners can build their homes to their exact specifications and taste. Alreeman II is a real growth story with 70% of buyers being new customers to Aldar, and we look forward to taking this new development on the road to Al Ain this coming weekend,” Al Awlaqi added.

Construction work of Alreeman II will commence by the end of this year, with the first handovers commencing from the end of 2021, Aldar revealed.

Spanning over 2.4 million square-metre area, Alreeman II features 1,690 villa plots with sizes ranging between 500 to 1,000 square metres.

The AED 1.7 billion project is available for purchase for only UAE nationals.

The development is located in close proximity to the Abu Dhabi International airport, key arterial highways, and some of the emirate’s major infrastructure projects and lifestyle destinations, including Yas Island, Zayed City, New Al Falah, Masdar City, and Mohammed Bin Zayed City.

 Residents of the new development will enjoy from various amenities including a school, retail offerings, parks, mosques, and running and cycling tracks.

Al-Ittihad newspaper previously reported that Aldar properties sold all the 557 land plots of Alreeman II’s first phase.