New homes on the way as Dh2 billion development is launched in Abu Dhabi
Aldar Properties has unveiled a new residential and commercial scheme in the capital
A Dh2 billion mega project creating new homes and retail and leisure facilities in an Abu Dhabi community has been launched.
Aldar Properties has unveiled the Alreeman scheme, a sprawling mixed-use development to be spread over 2.8 million square metres in Al Shamkha.
The initiative, which will boast residential and commercial land plots, will feature a series of residential clusters, including villas and apartment.
Brand new recreational, educational and commercial facilities, food and beverage outlets will also be built as part of the investment programme.
Property sales will begin on January 19, with prices for villa plots starting at Dh690,000 and commercial plots available from Dh4.69 million.
“The launch of Alreeman builds on Aldar’s successful development strategy and further expands our focus in to new areas of Abu Dhabi,” said Talal Al Dhiyebi, Chief Executive Officer for Aldar.
“Catering to the mid-income segment, this development responds to market demand to live in a desirable community with a wide range of facilities while also appealing to investors looking to construct apartment buildings or villas to generate recurring income.”
Alreeman will provide a network of walkable gardens, high-quality parks, open spaces with greenery and cycle tracks.
Construction is expected to get underway this year, with residents set to move into new homes in 2021.
Residents in Al Shamkha have long called for the area to be revitalised.
Back in 2015, members of the community urged Abu Dhabi City Municipality to introduce more amenities, such as schools, parks and recreational facilities.
Updated: January 8, 2019 08:21 PM