ALDAR Properties’ development projects witnessed strong demand from investors and end users, with foreign buyers (international and residents) representing 66%, representing 16 Billion Dirhams of the company’s sales in the UAE during the past year, which amounted to 24.28 Billion Dirhams, which confirms the growing position of Abu Dhabi. As a leading destination for long-term global real estate investment.
The percentage of sales to international buyers reached only 28% of the house’s total sales last year, compared to less than 2% about 3 years ago, in an indication of the significant increase in Abu Dhabi’s attractiveness to foreign investors, while the percentage of resident buyers reached 38% of the house’s total sales in the Emirates. last year.
The largest percentage of foreign buyers came from Britain, Russia and India, while Emirati investors made up the remaining 34%.
The sales of the “AlDAR” group as a whole reached 27.9 Billion Dirhams last year, including the sales of the Egyptian “SODIC”, which was acquired by “ALDAR” and “Holding” at the end of the year 2021.
Talal Al-Dhiyebi, CEO of ALDAR Properties Group, confirmed to Al-Ittihad that the increase in the percentage of international buyers and residents confirms the attractiveness of the real estate market in Abu Dhabi for foreign buyers, explaining that Abu Dhabi is an ideal destination for investment and living, in light of the safe and encouraging investment environment it provides for investors from all over the world. Countries of the world.
He explained that recent years have witnessed the unveiling of many initiatives and procedures that have contributed to facilitating doing business in the country, which has encouraged many investors to make the decision to buy real estate in Abu Dhabi, especially in light of the high investment return on Abu Dhabi real estate compared to many countries, which represents an element Attracting international investors.
Al-Dhiyebi pointed out ALDAR’s success in launching a number of new development projects that meet the requirements of various segments of investors in Abu Dhabi, in addition to expanding into new markets in the country.
Last year, ALDAR launched 14 new projects with successful entry into the Dubai and Ras Al Khaimah markets, in addition to consolidating its presence in Abu Dhabi, where the projects witnessed strong demand from investors and end users.
ALDAR has launched a number of new projects in Abu Dhabi, including the Sustainable City (Yas Island), the Manara Living project, Reeman Living, Vreeman 2, The Source, and The Source 2, in addition to the Al Kaser project and Gardenia Bay in Abu Dhabi.
ALDAR entered into a partnership with Dubai Holding to develop three residential complexes in Dubai, the first of which, the “Jinan Min ALDAR” project, was launched within one year from the date of signing the joint project. It also entered into a partnership with the Abu Dhabi Housing Authority to develop the “Belghilim” project, which is a residential neighborhood. An integrated and sustainable development in the northeast of Yas Island with a development value of 8 Billion Dirhams.
ALDAR launched luxury residential units bearing the Nobu Residences brand on Saadiyat Island in Abu Dhabi, and also entered into a partnership with Nikki Beach to develop a luxury beachfront residential project on Marjan Island in Ras Al Khaimah.
International expansion
ALDAR announced its first international expansion outside the Middle East and North Africa region through its acquisition of the UK-based real estate developer London Square.
During the year 2023, ALDAR awarded up to 49 contracts with a total value of 22 Billion Dirhams for a series of projects throughout Abu Dhabi, which vary between infrastructure, residential, commercial and mixed-use.
ALDAR recently revealed the launch of the “Nooran Living” project, which will include 372 residential units, in the Marina area on Saadiyat Island, where construction work on the project is scheduled to begin during the last quarter of 2024, with the unit delivery phase beginning during the last quarter of 2020. 2027.