Aldar Properties
ALDar Properties
About Aldar Properties
Aldar Properties PJSC was founded in January 2004, and the company’s shares were listed in 2005. The group comprises six business segments: Property Development and Sales, Investment Properties Portfolio, Operative Village, Hotels, Schools and Leisure, as well as being involved in the development of theme parks, golf courses and marinas. The business is lined up with the Emirate’s “Vision 2030” plan for financial enhancement and social framework development. Principal shareholders are Mubadala Development Company, Abu Dhabi Investment Authority, Abu Dhabi National Hotels, National Corporation for Tourism & Hotels and National Investor.
Talal Al Dhiyebi is the current CEO of Aldar Properties. He also serves on the boards of companies such as the Abu Dhabi Motorsports Management, Al Jazira Capital and Aldar Academies. As for the other branches of the business, Jassem Salem Busaibe is the CEO of Aldar Investment, and Jonathan Emery is the Chief Executive Officer of Aldar Development. The Chairman of Aldar Properties PJSC is H.E. Mohamed Khalifa Al Mubarak.
Aldar Properties PSJC owns an expansive land bank of over 77 million sq. ft. Special investment zones are scattered over 90% of the land, and they are open to foreign nationals to purchase. The company is known for creating bustling neighborhoods and thriving communities across the most notable Abu Dhabi areas. Reem Island, Saadiyat Island and Yas Island are just a few developments from the list of the remarkable locations. Besides their headquarters in Al Raha, Aldar Properties PJSC has been recognized internationally for the following projects:
Yas Mall is the largest mall in Abu Dhabi, covering more than 2.5 million sq. ft. Located on Yas Island, it offers the ultimate dining, shopping and entertainment experience with 90 indoor and outdoor eateries, 400 international stores, a 24-screen cinema and a massive entertainment zone for kids and adults. Additionally, the shopping mall is directly connected with Ferrari World Abu Dhabi. It is worth noting that there are free shuttle services available to and from Yas Mall within Yas Island and it will take around 30 minutes to get to the mall from the city center (via Sheikh Zayed Bin Sultan St/E10 and Yas Dr St).
Yas Marina Circuit hosts the annual Formula 1 Etihad Airways Abu Dhabi Grand Prix. Opened in 2009, it is now one of the most technologically-advanced tracks in the world. F1 fans can find such facilities as the drag strip, driving academy and karting. The venue can accommodate 50,000 spectators. For race enthusiasts, there is the Yas Viceroy Abu Dhabi Hotel, the first five-star hotel built over a Formula 1 Circuit. In 2010 Yas Marina Circuit was sold to the Abu Dhabi government for AED 4.8B, USD 1.32B. The location is reachable via Sheikh Zayed Bin Sultan St/E10 and Yas Dr St within half an hour.
The Gate Towers on Reem Island are part of the award winning multi-use development, Shams Gate. The 991-unit project was completed in April 2014, and now offers apartments, townhouses and penthouses for sale and to let. It features facilities such as a sauna, parking, smart systems, squash courts, a swimming pool, a sauna, gym, BBQ decks and more.
Mamsha Al Saadiyat is one of the prime residential projects by Aldar Properties. Located in Saadiyat Cultural District, it offers easy access to the Louvre Abu Dhabi, Zayed National Museum and Guggenheim Abu Dhabi. There are a range of amenities available within the development; a beach promenade, retail center, walking and cycling tracks, a kids playground and landscape gardens. End-users and investors can choose from premium apartments, penthouses and townhouses. Mamsha Al Saadiyat is accessible from Al Farah Road near Jacque Chirac Street. The development was completed in June 2019.
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In 2020, Aldar Properties became the largest listed developer in Abu Dhabi after its shares rose to the highest value in six years as a result of a deal with the holding company ADQ. Consequently, it took over the projects of the Riyadh City, Baniyas North and other developments in Al Ain and Al Ghafra regions. In total, over 25,000 land plots and villas for UAE nationals are under the management of Aldar Properties. The value of the contract is AED 30B, USD 8B.
Due to the strong increase in property development and the government project management business, Aldar Properties has seen a consistent flow of work and interest even during the coronavirus pandemic. In fact, net profit of the company jumped to AED 544M, USD 148M in Q1 2021. In the same period last year, net profit amounted to AED 302M, USD 82M. This 80% surge was partially due to a one-off business deal with ADQ. However, even if the deal is not taken into account, their quarterly net profit still rose to 47%. Aldar Development achieved real estate sales of more than AED 1B, USD 272M for the third consecutive quarter, reviving the demand for prime property.
Noya Luma is the latest addition to the residential portfolio of Aldar Properties on Yas Island. The construction of the project is expected to start in November 2021 and the estimated handover date is February 2024. The project is open to buyers from all nationalities on a freehold basis and the development will feature 189 standalone villas. The starting price for a residence in Noya Luma is AED 2.4M, USD 653.4K.
Noya Viva is another recent project on Yas Island. It received a tremendous response from investors and end-users with 480 residential units sold within 48 hours. Following the success of the first phase, Aldar Properties launched the next phase with a further 480 homes. These villas and townhouses are available for sale at the minimum price of AED 1.6M, USD 435.6K.
Located on Reem Island, The Bridges development is a collection of six mid-rise towers with 636 apartments. It was completed in Q2 2020, and there are still a number of residences for sale and rent. Both homeowners and tenants in this community have easy access to a café, pop-up shops and outdoor gym equipment. Apartments in the Bridges can be purchased for a minimum of AED 580K, USD 158K.
Saadiyat Reserve, situated on Saadiyat Island, is one of the most anticipated villa projects by Aldar Properties. The estimated completion date is Q1 2022 and will feature a range of community facilities including a central plaza market, swimming pool, community amphitheater, tennis and basketball courts, volleyball court, and running tracks. The land plots in Saadiyat Reserve cost a minimum of AED 1.7M, USD 463K.