Abu Dhabi: Aldar Properties on Wednesday announced the launch of Alreeman II, a Dh1.7 billion master-planned residential community in the Al Shamkha area of Abu Dhabi, for purchase of land plots by UAE nationals to build homes.
The latest project follows the success of Alreeman project, launched in January 2019 which generated Dh1.6 billion in sales for the company through the sale of land plots.
“Alreeman II builds on the incredible success of Alreeman, launched earlier this year. This expansion is a clear response to high demand among UAE Nationals to create communities in the Al Shamkha area and we are committed to delivering high quality and comfortable living spaces that meet these needs. We look forward to developing a new community that UAE Nationals can call home,” said Talal Al Dhiyebi, Chief Executive Officer of Aldar, in a statement.
Spread across an area of 2.4 million square metres, Alreeman features 1,690 villa plots ranging between 500 and 1,000 square metres and with amenities including a school, retail offerings, parks, mosques and cycling tracks, among other things.
Sales of the first phase of the land plots will commence on June 22, with prices starting from Dh690,000 per plot. Construction will commence at the end of 2019, with the first handovers expected from the end of 2021, according to Aldar.