The master developer from Abu Dhabi, Aldar, has announced that it will be bringing its innovation and skills to Dubai.
It revealed that it is hoping to create mixed-use communities within the city, which the developer will do with the launch of Haven.
Haven by Aldar is going to be located in the area across from Al Habtoor Polo Resort, which sits on the E611 stretch.
Consequently, the first phase of the sale is all set to go live, as Aldar will put 462 upscale residential units out of 2,428 units up for purchase.
Haven
As per the property developer, 3-bedroom townhouses or Haven will be priced at Dh5 million, while the prices of 3-bedroom villas will start at Dh3.5 million.
It was earlier in the current year that Aldar revealed its plans to enter Dubai and tie up with holdings in the city.
As a result, it is hoping to launch three projects, all of which will be established as communities.
Construction of Haven’s first phase is all set to kick off in the second quarter of 2024,
Meanwhile, a spokesperson of the company has said that handovers of property can be expected in the third quarter of 2027.
This three-year timeframe is said to hold high appeal among the bigger investors in Dubai, especially due to the track record of the property developer in Abu Dhabi.
As per a top Aldar official, the demand in Dubai is on the rise and demand for property is readily rising.
Moreover, the property developer believes that this is the right time to enter the market in the city, especially since Dubai hopes to double its population by the time 2040 rolls around.
The CEO of Aldar Development, Jonathan Emery, is also of the opinion that there is a rising need to increase the residential supply in the city.
Other projects
The track record of the Abu Dhabi-based property developer also includes a number oflarge-scale projects, like Saadiyat and Yas Islands.
Thus, Emery decided that he wanted to expand this success all the way to Dubai, where he has witnessed a growing demand for mixed-use communities.
According to the CEO, the company is well-suited to bring the Aldar proposition to the city, which includes its expertise in a number of fields, ranging from hospitality to leisure and retail.
Emery also expressed hope for new projects in Dubai, transforming the untouched plots that sit along the E611 and E311 corridors.
Consequently, these locations will allow Aldar to place its projects in the heart of the suburbs of Dubai, in close proximity to prominent attractions and neighborhoods.
As of now, market sources have predicted that the community of Aldar is likely to gain heavy traction with end-users as the demand for villas rises.
Expanding horizons
Aldar’s venture in Dubai is going to be its second domestic market outside of Abu Dhabi. Earlier, the company acquired a number of blue-chip assets.
These assets are located in Ras Al Khaimah and include Al Hamra Mall, which the CEO believes has great potential.
Back in 2022, the real estate developers made crucial acquisitions, which included DoubleTree by Hilton Resort & Spa Marjan Island and Rixos Bab Al Bahr.
