First phase of Sustainable City – Yas Island sold out within 24 hours

Abu Dhabi: The Sustainable City – Yas Island, launched by Aldar Properties in partnership with Diamond Developers, has achieved 100 per cent sales within 24 hours of its public launch, generating over Dh1 billion.

Because of the heavy demand, an additional 352 townhouses and condominiums – meant for release in upcoming phases – have now been put on sale.

A total of 512 homes were available during the first phase of the project, with 76 per cent of the units purchased by expatriates, of which 24 per cent were overseas investors, demonstrating Aldar’s growing international customer base. As many as 87 per cent of customers bought their first Aldar property, while 66 per cent of the buyers were under the age of 45.

Jonathan Emery, CEO at Aldar Development, said: “From formulating its Green Agenda to declaring 2023 as the Year of Sustainability, the UAE continues to prioritise sustainable development. The success we have seen with The Sustainable City – Yas Island is an endorsement of the government’s forward-thinking policies, and is a clear indication that buyers are looking for more sustainable ways of living. It also provides further impetus for us to deliver more developments of this type across the region alongside Diamond Developers.

“Selling out the first phase of the community is a fantastic result for our business and caps off a perfect week having launched our net zero plan and a number of other commitments across our business during Abu Dhabi Sustainability Week.”

The sales launch of The Sustainable City – Yas Island was the first fully-paperless sales event for Aldar, where customers were able to complete their transactions digitally, using electronic signatures.

Construction of the project will commence in Q2 2023, with first handovers expected in Q4 2025.