Aldar unveils Al Ruwais retail realty in Abu Dhabi
Wednesday, June 11, 2008
The leading real estate firm in Abu Dhabi, Aldar Properties, has announced the launch of Dh.500million double-storey shopping center in the Al Ruwais industrial city, located 240 kilometers west of Abu Dhabi.
The project is expected to cater to a growing population of 40,000 by 2010. The Al Ruwais shopping center will house 99 retail outlets, a supermarket, children's entertainment center, food and beverage outlets, and Warner Brothers Cinema Complex.
The Phase One of the project is expected to be complete by October 2010. The second phase would commence next year, the date of which, will be announced later this year. The cost of construction of Phase 2 would be double the cost of Phase one.
According to Ronald Stephen Barrot, the Chief Executive Officer of Aldar, the project is a part of the company's plan to develop other areas in the capital that has the development potential.
"We will own the asset and lease the retail outlets. The built-up area of the shopping center will be about 41,000 square meters." he added.
"We are pleased to see Al Ruwais grow from an industrial complex into a full-fledged urban center, and we feel duty-bound to contribute to the growth. It is a top priority for Aldar to cater to the needs of all residents in the Abu Dhabi emirate," said Ahmed Ali Al Sayegh, Chairman, Aldar Properties.
Al Ruwais retail realty is likely to serve residents in the neighboring cities such as Delma Island, Al Marfaa, Al Ghowifat, Gyathi and Sella, as currently residents of these cities travel to Abu Dhabi for shopping and leisure.
The project is expected to cater to a growing population of 40,000 by 2010. The Al Ruwais shopping center will house 99 retail outlets, a supermarket, children's entertainment center, food and beverage outlets, and Warner Brothers Cinema Complex.
The Phase One of the project is expected to be complete by October 2010. The second phase would commence next year, the date of which, will be announced later this year. The cost of construction of Phase 2 would be double the cost of Phase one.
According to Ronald Stephen Barrot, the Chief Executive Officer of Aldar, the project is a part of the company's plan to develop other areas in the capital that has the development potential.
"We will own the asset and lease the retail outlets. The built-up area of the shopping center will be about 41,000 square meters." he added.
"We are pleased to see Al Ruwais grow from an industrial complex into a full-fledged urban center, and we feel duty-bound to contribute to the growth. It is a top priority for Aldar to cater to the needs of all residents in the Abu Dhabi emirate," said Ahmed Ali Al Sayegh, Chairman, Aldar Properties.
Al Ruwais retail realty is likely to serve residents in the neighboring cities such as Delma Island, Al Marfaa, Al Ghowifat, Gyathi and Sella, as currently residents of these cities travel to Abu Dhabi for shopping and leisure.
Aldar launches second phase of Al Mamoura, Baniyas Towers
Sunday, June 08, 2008
The leading integrated property developer, Aldar Properties, has launched the second phase of Al Mamoura and Baniyas Towers at Abu Dhabi.
The two commercial developments, located at the heart of Abu Dhabi, offer about 62,000 square meters of office space, thereby helping to meet the high demand for office space in Abu Dhabi.
Followed by the pre-letting of the 37,000 square meters of entire Al Mamoura A, another 20,000 square meters at Al Mamoura B, is also due for completion, and will be open for lease by the end of this year.
Baniyas Towers will have another 42,000 square meters of grade A office space to offer in two buildings, that are due for completion by January 2009.
Al Mamoura B and Baniyas Towers will offer 'grade A' office accommodation, including high-end amenities, together with units of flexible size, available for lease. Both developments will have ample parking for its tenants and will be serviced by a high standard of building management.
"Aldar Properties hopes to provide the market with a considerable amount of international grade office space by the year 2009. These projects are being done inline with Aldar’s initiative to meet the requirements of this rapidly evolving city and its high demand for quality office accommodation," said Ahmed Ali Al Sayegh, Chairman, Aldar Properties.
The two commercial developments, located at the heart of Abu Dhabi, offer about 62,000 square meters of office space, thereby helping to meet the high demand for office space in Abu Dhabi.
Followed by the pre-letting of the 37,000 square meters of entire Al Mamoura A, another 20,000 square meters at Al Mamoura B, is also due for completion, and will be open for lease by the end of this year.
Baniyas Towers will have another 42,000 square meters of grade A office space to offer in two buildings, that are due for completion by January 2009.
Al Mamoura B and Baniyas Towers will offer 'grade A' office accommodation, including high-end amenities, together with units of flexible size, available for lease. Both developments will have ample parking for its tenants and will be serviced by a high standard of building management.
"Aldar Properties hopes to provide the market with a considerable amount of international grade office space by the year 2009. These projects are being done inline with Aldar’s initiative to meet the requirements of this rapidly evolving city and its high demand for quality office accommodation," said Ahmed Ali Al Sayegh, Chairman, Aldar Properties.
Labels: Abu Dhabi, Aldar, Commercial Property, Construction Projects
Aldar plans first-of-its kind investment funds in UAE
Saturday, April 12, 2008
The largest property developer in Abu Dhabi plans to launch four realty investment funds that offer exposure to the booming property market of the emirate.
The Chief Executive Officer of Aldar, Ronald Barrott, said that the funds, one each for retail, office, residential and hotel property, will be launched next year, with a view to expand the funds so as to eventually make it multibillion-dollar vehicles.
The funds will be the first of its kind for Aldar and the UAE. The company, which has about 25 percent of its shares directly or indirectly owned by the government, has its remaining shares floated on the Abu Dhabi Securities Market, with a development portfolio of $65bn. Aldar is responsible for atleast one-third of the development happening in Abu Dhabi.
The final details are yet to be worked out, but, Aldar will manage the funds and carry a certain percentage of shares, with the remainder kept open to domestic and foreign investors.
Abu Dhabi is the richest emirate in the UAE and home to 95 percent of its hydrocarbon resources.
Just as in Dubai, even Abu Dhabi is going through an extraordinary boom to develop and diversify its economy and raise its profile.
Social BookmarkingThe Chief Executive Officer of Aldar, Ronald Barrott, said that the funds, one each for retail, office, residential and hotel property, will be launched next year, with a view to expand the funds so as to eventually make it multibillion-dollar vehicles.
The funds will be the first of its kind for Aldar and the UAE. The company, which has about 25 percent of its shares directly or indirectly owned by the government, has its remaining shares floated on the Abu Dhabi Securities Market, with a development portfolio of $65bn. Aldar is responsible for atleast one-third of the development happening in Abu Dhabi.
The final details are yet to be worked out, but, Aldar will manage the funds and carry a certain percentage of shares, with the remainder kept open to domestic and foreign investors.
Abu Dhabi is the richest emirate in the UAE and home to 95 percent of its hydrocarbon resources.
Just as in Dubai, even Abu Dhabi is going through an extraordinary boom to develop and diversify its economy and raise its profile.
Details revealed for Aldar's Al Dana in Raha Beach development
Sunday, March 16, 2008
The plan details of the $5billion commercial development, Al Dana, located at the center of the Raha Beach development in Abu Dhabi has been revealed by Aldar Properties.Several buildings are already under construction, including the four integrated buildings that make up the World Trade Center and the Gateway building, designed by the renowned architect, Rafael Vinoly himself, who designed the new World Trade Centre at New York.
The total investment value at the 10.5kms Al Raha Beach development is worth $48bn, including the $5bn Dana, located at the core of the development. Dana will house Aldar's headquarters, due to be ready by September 2009, apart from three international hotels. Seven other hotels are already housed in the development, on the Yas Island, as a part of the 40-hotel programme, to be developed during the coming years.
Aldar has reported a strong growth of Dh.1.2billion last year, and aims to exceed this figure during the first quarter of this year. The company has already begun delivering few of its developments at Raha Gardens to UAE nationals, and more projects are expected next year.
Aldar's Chief Executive Officer, Ronald Barrot, said "Our sales during the first half of 2008 exceeds the Dh.1.2bn mark and has grown more than Dh.2bn. Apart from exposing Abu Dhabi and Aldar to the international community, we are also always on the look out for partnerships."
With this, the total projects that are under construction in Abu Dhabi exceeds $90bn, including the $40bn Yas Island, and the iconic Old Market in the Abu Dhabi City Center.
With this, the total projects that are under construction in Abu Dhabi exceeds $90bn, including the $40bn Yas Island, and the iconic Old Market in the Abu Dhabi City Center.
Labels: Abu Dhabi, Al Raha Beach, Aldar
Aldar, Investment Holdings, signs deal for Al Khubeira
Monday, February 18, 2008
Aldar Properties, the real estate developer, has announced their Dh.1.2bn joint venture with Investment Holdings, a local company, to develop 'Al Khubeira' at its Al Raha Beach development.
The deal will develop an area of about 50,000 square meters. The Al Khubeira development will include waterfront villas and residential towers, open to both nationals and expatriates. Being developed on a reclaimed land at the Al Raha Beach complex, it occupies an area of 6.8 million square meters, with a total built-up area of 12 million square meters.
Al-Kubeira, which is due for completion during the first quarter of 2011, will have a world-class interior design, including ceramic, stone, timber, finishes, providing natural setting for residents.
Al-Khubeira will be a gated community, with state-of-the-art video entry system, a concierge serve and CCTV security.
The Al Raha Beach development is a beachfront project that is currently under development in Abu Dhabi, along the Dubai-Abu Dhabi highway. This development with be a new city district, expected to serve as a new gateway to Abu Dhabi city, housing 120,000 people.
Social BookmarkingThe deal will develop an area of about 50,000 square meters. The Al Khubeira development will include waterfront villas and residential towers, open to both nationals and expatriates. Being developed on a reclaimed land at the Al Raha Beach complex, it occupies an area of 6.8 million square meters, with a total built-up area of 12 million square meters.
Al-Kubeira, which is due for completion during the first quarter of 2011, will have a world-class interior design, including ceramic, stone, timber, finishes, providing natural setting for residents.
Al-Khubeira will be a gated community, with state-of-the-art video entry system, a concierge serve and CCTV security.
The Al Raha Beach development is a beachfront project that is currently under development in Abu Dhabi, along the Dubai-Abu Dhabi highway. This development with be a new city district, expected to serve as a new gateway to Abu Dhabi city, housing 120,000 people.
Labels: Abu Dhabi, Aldar, Residential, Villa Projects
Aldar's Al Raha project crosses major milestone
Thursday, February 14, 2008
Aldar has achieved a major milestone in their Al Raha Beach development, with the eastern precinct protected by a completed sea wall.
The Al Raha Beach project, comprises 11 precincts, with a total development area of 12 million square meters. Each of these precinct or village is unique, and stands apart from its neighbouring village in the development.
Social BookmarkingThe Al Raha Beach project, comprises 11 precincts, with a total development area of 12 million square meters. Each of these precinct or village is unique, and stands apart from its neighbouring village in the development.
The Chief Operating Officer, Ronald S. Barrot said "Al Raha Beach Development has made steady and resounding progress, and we are pleased to witness this much anticipated forward move of the waterfront development to achieve this milestone. Soletanche Bachy - NSCC has done an excellent job and has met all challenges created by this fast-track project."
Followed by the completion of this milestone, the basement excavation has been progressed at the building site, followed by ground slab construction.
Covering about 570 hectares of land, the Al Raha Beach development will be the new gate way to the Capital.Labels: Al Raha Beach, Aldar, Construction Projects
Al Raha Gardens, Phase-one completed
Tuesday, February 12, 2008
The leading real estate developer in Abu Dhabi, Aldar Properties, has announced completion of their first phase of Al Raha Gardens, a residential community in Abu Dhabi.
The first phase comprises 280 villas, which has been already sold, and is now partially occupied. The company has also completed 15 million safe hours on-site, without any accidents, revealed the company officials.
"Al Raha Gardens is one among the most prestigious residential developments of Aldar, which offers the first freehold properties to nationals in Abu Dhabi and UAE. We, as developers, respect the heritage of our Emirate, and have introduced two schools and a kindergarten, ensuring that Emirati customers get to enjoy a premium integrated lifestyle," said Ronald Barott, CEO of Aldar.
The town houses and villas are available on a freehold basis to UAE nationals. The handing over of keys to these spacious family dwellings, began during August 2007, and at present, 37 are occupied with 121 handed over to purchasers.
There is an ongoing construction in the remaining 1100 villas, and it is expected to be complete by 2009. The delivery of phase two is scheduled for February 2008.
The Head of health and safety division at Aldar, Andrew Broderick, said "Achieving these milestones has been a joint-effort from all those involved in the project, beginning from Senior management to site operatives, improving standards through education during all stages of construction."
The land bank of Aldar is the largest in Abu Dhabi with $60billion worth developments including the Al Raha Beach, Central Market, Noor Al Ain, Coconut Island, Yas Island project with Ferrari theme park and Warner Bros, and the Al Gurm Resort.
Social BookmarkingThe first phase comprises 280 villas, which has been already sold, and is now partially occupied. The company has also completed 15 million safe hours on-site, without any accidents, revealed the company officials.
"Al Raha Gardens is one among the most prestigious residential developments of Aldar, which offers the first freehold properties to nationals in Abu Dhabi and UAE. We, as developers, respect the heritage of our Emirate, and have introduced two schools and a kindergarten, ensuring that Emirati customers get to enjoy a premium integrated lifestyle," said Ronald Barott, CEO of Aldar.
The town houses and villas are available on a freehold basis to UAE nationals. The handing over of keys to these spacious family dwellings, began during August 2007, and at present, 37 are occupied with 121 handed over to purchasers.
There is an ongoing construction in the remaining 1100 villas, and it is expected to be complete by 2009. The delivery of phase two is scheduled for February 2008.
The Head of health and safety division at Aldar, Andrew Broderick, said "Achieving these milestones has been a joint-effort from all those involved in the project, beginning from Senior management to site operatives, improving standards through education during all stages of construction."
The land bank of Aldar is the largest in Abu Dhabi with $60billion worth developments including the Al Raha Beach, Central Market, Noor Al Ain, Coconut Island, Yas Island project with Ferrari theme park and Warner Bros, and the Al Gurm Resort.
Labels: Abu Dhabi, Al Raha Beach, Aldar, Community, Villa Projects
Aldar unveils Al Zeina development in Abu Dhabi
Sunday, February 10, 2008
Aldar Properties has launched a new mixed-use development, Al Zeina, which forms a strategic gateway to the Al Raha Beach Development.
The piling work on Al Zeina is now complete, and laying the ground floor slabs in now being carried out. On completion, Al Zeina will house 1032 units on the whole, with 137 villas, 779 apartments and 116 townhouses. Apart from this, Al Zeina will comprise private boat moorings, local supermarket, retail high street, shops, a jetty restaurant, and various other food and beverage outlets located on the retail high street. Al Zeina also boasts of a 500 meter long public beach, landscaped gardens, open spaces, and luxurious shared gardens.
Each of the eleven precincts on Al Raha Beach is unique in character with specific attributes that keep it apart from the rest of the precincts. This, being a self-sustainable community, residents can also enjoy the options of engaging themselves with the wider development like the canal network with serviced water taxis, the light rail transportation, and carrying on with their regular eating, shopping and relaxing activities within their own premises.
Labels: Abu Dhabi, Al Raha Beach, Aldar, New Developments
Land reclamation complete for shaping Coconut Island in Abu Dhabi
Tuesday, January 08, 2008
One of the prominent realty developers of Abu Dhabi, ALDAR Properties PJSC, has announced completion of its land reclamation and dredging for the major island resort and gated residential development at the Abu Dhabi West Coast.
This project is a combined effort through partnership with National Corporation for Tourism and Hotels (NCT &H) and is due for completion by 2010.
At present, the approval of master plan of Coconut Island, and the appointment of architects for the projects have been done. The new lagoon of the island, which would form the center-piece of the project, has taken shape. The next step to be done is soil investigation, soil improvement and shoreline protection works, prior to commencing the buildings and other infrastructure works.
Coconut Island is expected to be a five star luxury resort, comprising 160 guest rooms, a spa, restaurants and marina. The island has a sand bar encompassed by clear turquoise waters thereby providing idyllic setting for relaxation. Apart from the resort, the island will have three and four bedroom apartment buildings, and six, five and four bedroom villas, and other spectacular views of the Arabian Gulf.
Senior Project Leader, ALDAR Properties, Rami Hreiki, said that both ALDAR and NCT&H, together, will continue to strive to bring this exciting project to fruition.
Social BookmarkingThis project is a combined effort through partnership with National Corporation for Tourism and Hotels (NCT &H) and is due for completion by 2010.
At present, the approval of master plan of Coconut Island, and the appointment of architects for the projects have been done. The new lagoon of the island, which would form the center-piece of the project, has taken shape. The next step to be done is soil investigation, soil improvement and shoreline protection works, prior to commencing the buildings and other infrastructure works.
Coconut Island is expected to be a five star luxury resort, comprising 160 guest rooms, a spa, restaurants and marina. The island has a sand bar encompassed by clear turquoise waters thereby providing idyllic setting for relaxation. Apart from the resort, the island will have three and four bedroom apartment buildings, and six, five and four bedroom villas, and other spectacular views of the Arabian Gulf.
Senior Project Leader, ALDAR Properties, Rami Hreiki, said that both ALDAR and NCT&H, together, will continue to strive to bring this exciting project to fruition.
Labels: Abu Dhabi, Aldar, Coconut-Island, Residential
Aldar's new Head Quarters to be opened at Al Raha Beach
Tuesday, October 30, 2007
Aldar Properties, the first and fully-integrated development company in Abu Dhabi, has announced the commencement of construction works on their commercial office space of 51,000 square meters in the Al Raha Beach, the mixed-use water front beach. The new commercial development will be the headquarters of Aldar Properties.
The contract for the construction works has been handed over to a joint-venture company between Aldar and Laing O'Rourke. The new building with be the first spherical building in the Middle East, and will cater to the international business elite. The commercial building features aluminium and glass exterior with underground parking facility, marble floors and walls and turnstile security, considered to be Category A International Office.
With 110 meters in height, Aldar will occupy about 20 percent of the building and the rest will be leased out to multinational corporations in the city. Out of the total net area of 51,361 sq mt., the gross floor area of Aldar will cover 61,900 square meters. The building, despite its round shape, boasts of high-floor usage efficiency of 78 percent. The average footplate per floor is 1600 square meters. The signature development of Aldar, on completion, will comprise hotels, offices and retail space, all of which encompass a large public marina.
The CEO of Aldar Properties, Ronald Barrot, said "Aldar is the benchmark for quality commercial space in Abu Dhabi. Al Raha Beach, the most extensive of projects, is the ultimate location for our offices and growth in the future."
The Project Director of Al Raha Beach project, Michael Cox, said "The geometric shape of the building is a symbol of rationality, modernity, stability and unity. While providing a headquarters for Aldar, we also look forward to welcome other companies seeking offices that meet international standards."
The development is slated for completion towards end of 2009.
Social BookmarkingThe contract for the construction works has been handed over to a joint-venture company between Aldar and Laing O'Rourke. The new building with be the first spherical building in the Middle East, and will cater to the international business elite. The commercial building features aluminium and glass exterior with underground parking facility, marble floors and walls and turnstile security, considered to be Category A International Office.With 110 meters in height, Aldar will occupy about 20 percent of the building and the rest will be leased out to multinational corporations in the city. Out of the total net area of 51,361 sq mt., the gross floor area of Aldar will cover 61,900 square meters. The building, despite its round shape, boasts of high-floor usage efficiency of 78 percent. The average footplate per floor is 1600 square meters. The signature development of Aldar, on completion, will comprise hotels, offices and retail space, all of which encompass a large public marina.
The CEO of Aldar Properties, Ronald Barrot, said "Aldar is the benchmark for quality commercial space in Abu Dhabi. Al Raha Beach, the most extensive of projects, is the ultimate location for our offices and growth in the future."
The Project Director of Al Raha Beach project, Michael Cox, said "The geometric shape of the building is a symbol of rationality, modernity, stability and unity. While providing a headquarters for Aldar, we also look forward to welcome other companies seeking offices that meet international standards."
The development is slated for completion towards end of 2009.
Labels: Abu Dhabi, Al Raha Beach, Aldar
ALDAR draws high customer interest at Cityscape Dubai 2007
Sunday, October 28, 2007
Leading Abu Dhabi developer, ALDAR Properties, has been receiving good feedback from the visitors who gathered at the Cityscape Dubai 2007 property exhibition.
According to statistics received so far, there has been a major demand for Khor Al Raha and Al Bandar, the two realty projects that were showcased at the exhibition. The registered booking confirmation for Khor Al Raha touched more than Dh.750million, and another Dh.300million worth bookings were from investors for land plots.
ALDAR is the Platinum sponsor of Cityscape Dubai 2007 that focuses on the property boom in UAE. ALDAR has a rich portfolio that includes Coconut Island, Al Raha Beach, Al Gurm Resort, Noor Al Ain, and Al Mamoura, including the YAS Island Project.
The CEO of ALDAR, Ronald Barott expressing his pleasure over the level of customer interest shown towards ALDAR's projects, mentioned that this demonstrates the confidence and trust that people have posed on ALDAR to deliver quality properties that meet international standards.
Social BookmarkingAccording to statistics received so far, there has been a major demand for Khor Al Raha and Al Bandar, the two realty projects that were showcased at the exhibition. The registered booking confirmation for Khor Al Raha touched more than Dh.750million, and another Dh.300million worth bookings were from investors for land plots.
ALDAR is the Platinum sponsor of Cityscape Dubai 2007 that focuses on the property boom in UAE. ALDAR has a rich portfolio that includes Coconut Island, Al Raha Beach, Al Gurm Resort, Noor Al Ain, and Al Mamoura, including the YAS Island Project.
The CEO of ALDAR, Ronald Barott expressing his pleasure over the level of customer interest shown towards ALDAR's projects, mentioned that this demonstrates the confidence and trust that people have posed on ALDAR to deliver quality properties that meet international standards.
Labels: Aldar, Cityscape, Latest News
Aldar's projects Al Muneera and Al Bandar on schedule
Wednesday, October 24, 2007
The first leading integrated property developer in Abu Dhabi, ALDAR Properties, has announced completion of land reclamation, ground improvement and development of diaphragm sea walls on its Al Muneera and Al Bandar projects.
The foundations of these projects have been laid, and are well-under construction. These projects were show-cased at the Cityscape Dubai 2007 by Aldar. Aldar's participation in the Cityscape could be considered a timely opportunity to focus on construction projects being undertaken by Aldar in Abu Dhabi.
The two projects on the Al Raha Beach are also progressing as scheduled, and are heading towards other construction milestones. The Al Muneera and the Al Bandar construction works are also likely to reach their targets for completion. The Al Bandar construction is in full swing with the piling work and infrastructure works being carried out, and is likely to be completed towards end of 2009.
The highway interchanges, the canal bridge crossings are all bound to be complete within the scheduled completion date. The access roads and the boulevard are gaining incremental target dates. Now with the subcontractors being finalized, the contracts are on schedule and will be complete towards end of 2007.
The Al Raha Beach Development Director, Michael Cox said "Aldar is committed towards timely delivery of projects, and we are pleased with the progress of Al Muneera and Al Bandar, so far. Our experiences in the industry, coupled with the strong relationship that we maintain with quality supplies, allows the team to concentrate in meeting quality standards desired by our customers, while also staying on the schedule initially announced."
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The foundations of these projects have been laid, and are well-under construction. These projects were show-cased at the Cityscape Dubai 2007 by Aldar. Aldar's participation in the Cityscape could be considered a timely opportunity to focus on construction projects being undertaken by Aldar in Abu Dhabi.
The two projects on the Al Raha Beach are also progressing as scheduled, and are heading towards other construction milestones. The Al Muneera and the Al Bandar construction works are also likely to reach their targets for completion. The Al Bandar construction is in full swing with the piling work and infrastructure works being carried out, and is likely to be completed towards end of 2009.
The highway interchanges, the canal bridge crossings are all bound to be complete within the scheduled completion date. The access roads and the boulevard are gaining incremental target dates. Now with the subcontractors being finalized, the contracts are on schedule and will be complete towards end of 2007.
The Al Raha Beach Development Director, Michael Cox said "Aldar is committed towards timely delivery of projects, and we are pleased with the progress of Al Muneera and Al Bandar, so far. Our experiences in the industry, coupled with the strong relationship that we maintain with quality supplies, allows the team to concentrate in meeting quality standards desired by our customers, while also staying on the schedule initially announced."
Labels: Abu Dhabi, Al Raha Beach, Aldar, Business Tower, Construction Projects
The Oberoi - Al Raha Beach and The Oberoi - Al Yas from Aldar Properties
Tuesday, September 11, 2007
The Oberoi Group of India, which manages and owns 32 hotels and luxury cruises across five countries, has revealed its foray into a strategic relationship with Aldar Properties, to develop two luxury hotels in Abu Dhabi.
The two hotel properties are being planned at the Al Raha beach and the Al Yas beach in Abu Dhabi, and will be entirely funded by Aldar, the largest real estate company in Abu Dhabi by market capitalization.
Aldar will be the sole owner of the two properties. The estimate of the two hotel properties are yet to be revealed by Aldar.
The hotels will be under the management of Oberoi Group under a long-term contract for a minimum of 20 years. The properties will be referred to as "The Oberoi – Al Raha Beach" and "The Oberoi – Al Yas".
The Oberoi-Al Raha beach property is expected to consist of 250 rooms and 50 serviced apartments and The Oberoi-Al Yas will have 120 villas. The properties will cater to top, luxury-end of the market. The Al Raha property is scheduled to be opened by 2010, while the Al Yas will be opened by 2013.
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The two hotel properties are being planned at the Al Raha beach and the Al Yas beach in Abu Dhabi, and will be entirely funded by Aldar, the largest real estate company in Abu Dhabi by market capitalization.Aldar will be the sole owner of the two properties. The estimate of the two hotel properties are yet to be revealed by Aldar.
The hotels will be under the management of Oberoi Group under a long-term contract for a minimum of 20 years. The properties will be referred to as "The Oberoi – Al Raha Beach" and "The Oberoi – Al Yas".
The Oberoi-Al Raha beach property is expected to consist of 250 rooms and 50 serviced apartments and The Oberoi-Al Yas will have 120 villas. The properties will cater to top, luxury-end of the market. The Al Raha property is scheduled to be opened by 2010, while the Al Yas will be opened by 2013.
Labels: Abu Dhabi, Aldar, Luxury Homes, New Hotels
ALDAR marks sale of first phase of Al Raha Gardens in Abu Dhabi
Monday, August 27, 2007
ALDAR Properties, a major real estate development, based in Abu Dhabi, has commenced the handing over process of its completed properties in the Al Raha Gardens development in Abu Dhabi.
ALDAR has already handed over the keys of the first phase to the owners, which will be hundred percent complete in another year.
To mark the occasion, ALDAR Properties held a ceremony with a few new residents of Al Raha Gardens. The ALDAR Chairman, Ahmed Al Sayegh, said "The delivery of our first-ever project in Abu Dhabi property market, is a matter of pride for us. We have proven our commitment and dedication to the UAE, ensuring that we always strive to achieve our developmental aims."
Al Raha Gardens comprises luxurious villas, townhouses, community retail, schools, dining outlets and much more in a posh landscaped area covering 665,000 square meters of land, making it the most integrated residential development in Abu Dhabi.
The delivery of the first phase of Al Raha Villas also indicates the potential for attractive villa rentals and the secondary sales opportunities for owners. All properties were sold on the day of the launch, and the development is one of the highly desired locations in Abu Dhabi, particularly, for the crowd who commute to Dubai often, as Jebel Ali is just forty five minutes away.
Social BookmarkingALDAR has already handed over the keys of the first phase to the owners, which will be hundred percent complete in another year.
To mark the occasion, ALDAR Properties held a ceremony with a few new residents of Al Raha Gardens. The ALDAR Chairman, Ahmed Al Sayegh, said "The delivery of our first-ever project in Abu Dhabi property market, is a matter of pride for us. We have proven our commitment and dedication to the UAE, ensuring that we always strive to achieve our developmental aims."Al Raha Gardens comprises luxurious villas, townhouses, community retail, schools, dining outlets and much more in a posh landscaped area covering 665,000 square meters of land, making it the most integrated residential development in Abu Dhabi.
The delivery of the first phase of Al Raha Villas also indicates the potential for attractive villa rentals and the secondary sales opportunities for owners. All properties were sold on the day of the launch, and the development is one of the highly desired locations in Abu Dhabi, particularly, for the crowd who commute to Dubai often, as Jebel Ali is just forty five minutes away.
Labels: Abu Dhabi, Al Raha Beach, Aldar, Luxury Homes, Residential, Sales, Villa Projects
