Abu Dhabi – Mubasher: Aldar Properties on Monday announced launching Al Reeman project in Alshamkha, Abu Dhabi.
Spanning 2.8 million square metres, the project’s total cost amounted to AED 2 billion ($544 million), Abu Dhabi's largest developer said in a statement.
The new mixed-use project offers residential and commercial land plots available for purchase by all nationalities.
“The launch of Alreeman builds on Aldar’s successful development strategy and further expands our focus into new areas of Abu Dhabi,” Talal Al Dhiyebi, CEO of Aldar, commented.
It includes a series of residential clusters, featuring single and multi-residential villas and apartments, complemented by retail space, F&B, mosques, sports, education and commercial facilities, the statement said.
The company will start selling land plots on 19 January, with prices starting from AED 690,000 for villa plots and AED 4.69 million for commercial plots.
The new project will provide a network of walkable gardens, parks, open spaces interwoven with greenery and cycle tracks that facilitate public life and social interaction, the statement added.
“Catering to the mid-income segment, this development responds to market demand to live in a desirable community with a wide range of facilities while also appealing to investors looking to construct apartment buildings or villas to generate recurring income,” Al Dhiyebi said.
The project is expected to be completed by 2021.
