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ALDAR Properties announces freehold residential sales in Abu Dhabi
- United Arab Emirates: Wednesday, June 15 - 2005 at 09:32
- PRESS RELEASE
ALDAR PROPERTIES' today announced the sale of the first phase of the Al Raha Gardens community development adjacent to its Al Raha Beach Development.
Modelled on a true urban village ideology, the development will provide convenient retail amenities, car free streetscapes and a supporting infrastructure of prestigious schools offering an international curriculum as well as a kindergarten. A particular feature of the development will be the Emirates' most exclusive combined Polo Hotel and combined polo club.
The overall design theme will be reflective of traditional arabesque heritage, incorporating contemporary specifications that will offer the homeowner every modern and contemporary convenience.
The development will be sold in phases during the next 12 months, with construction of each phase being completed in 20 months. Sales will be on a first come first served basis with each purchaser limited to three units only. A deposit payable of 15% of the sale price will be required upon reservation, with the balance upon construction completion of the property.
The first phase of 363 villas will be offered for sale to the UAE National population in line with current Abu Dhabi law. Subsequent phases may be offered to expatriates in line with any changes in Abu Dhabi property laws that may be ratified in the future.
Commenting on the launch of this development, ALDAR's Chairman, Ahmed Ali Al Sayegh said: "We are delighted to be able to offer our products for sale so quickly after our incorporation to the UAE National population. This is very much in line with our corporate vision of "Building the Nation" - and being responsive and reactive to the needs, wants and desires of our shareholders, customers and occupiers alike."
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Notes and media contacts
ALDAR Properties PJSC is a premier real estate development, management and investment company headquartered in Abu Dhabi, UAE. The company was formed as a result of an initial Public Offering (IPO) of shares. The PJSC was created under Emiri Decree No 808 of 2004.ALDAR Properties PJSC was created to fast track real estate investment opportunities, and to offer an opportunity to participate in the prosperity of this increasingly important industry in the UAE.
The current property portfolio includes major developments and re-developments within Abu Dhabi Emirate, such as the Central Market in Abu Dhabi, the Al Raha Beach Development in Umm Al Nar, the Mubadala Development Company - ERWDA Headquarter Building in Abu Dhabi, Al Jimi Mall Expansion in Al Ain, Jebel Hafeet Resort in Jebel Hafeet, Al Ain, and the Al Mudheef Urban Regeneration Scheme in Al Mudheef.
ALDAR Properties PJSC is owned by leading Abu Dhabi institutions, founder shareholders and individual investors.
For more information, please contact Ousama Ghannoum, Marketing and Communication Director of ALDAR on 02 6336886.
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Posted by Christine H. Andersen, Assistant News Editor
