Aldar launches residential development on Reem island

Abu Dhabi: Aldar Properties announced on Saturday the launch of Reflection, a new Dh440 million, boutique residential development on Reem Island. Sales for Reflection will commence on Saturday March 31 at Aldar’s sales centre on Yas Island, with prices starting from Dh580,000.

Reflection consists of two towers offering 374 homes (182 & 192 apartments in each), comprising studios, 1, 2, and 3 bedroom apartments. Units are available for purchase by all nationalities and require a 5 per cent down payment.

“We have witnessed sustained demand for this type of product — led by high end amenities, in prime locations, and affordable for a wide range of customers,” said Talal Al Dhiyebi, Chief Executive Officer. “We are delighted to bring Reflection to the market. We have witnessed sustained demand for this type of product led by high end amenities, in prime locations, and affordable for a wide range of customers. Reflection represents Aldar’s continuous evolution in this boutique segment, and we look forward to sales starting on 31st March.”

Aldar and Emaar last week announced a joint venture that will have a far-reaching impact on UAE property market over the next decade. In the initial phase, the two will work on two mega-projects — the Saadiyat Grove in Abu Dhabi and the Emaar Beachfront, a multi-tower development that Emaar recently launched in Dubai.

The combined value of the alliance’s first foray could be valued at Dh30 billion.