The Dubai Real Estate Sensation of 2023
In a remarkable real estate phenomenon akin to ‘Gone in 60 Seconds,’ Aldar Properties’ debut residential development in Dubai, ‘Haven by Aldar,’ witnessed astounding success. Two phases of this promising project were snapped up within hours of their launch. Aldar’s initial plan was to unveil 468 units in the first phase, but due to overwhelming demand, an additional 318 units were released, culminating in the sale of 786 villas and townhouses, amassing a staggering AED3.1 billion ($840 million) in sales.
Dubai: A Global Property Investment Hub
Dubai’s appeal as a global property investment and long-term residency hub shone brightly yet again. The project garnered strong international interest, with 77 percent of sales attributed to overseas and expatriate buyers, while UAE nationals accounted for the remaining 23 percent. What’s more, 24 percent of buyers were female, signifying a diverse and enthusiastic customer base.
Aldar’s Triumph in Dubai
Rashed Al Omaira, Chief Commercial Officer at Aldar Development, expressed his delight at the overwhelming response to their inaugural residential community in Dubai. This success reaffirms the demand for new residential concepts in the emirate, both among local and international buyers. Aldar’s reputation for delivering high-quality developments coupled with Dubai’s standing as an ideal destination for long-term residence sealed the deal.
Newcomers Flock to Aldar
First-time buyers constituted a significant chunk of the developer’s customer base, making up an impressive 85 percent of sales. This growth underscores the increasing scale of Aldar’s influence in the real estate market.
What’s Next for Haven
As the dust settles on the initial phases of ‘Haven,’ the spotlight now turns to the final phase, set to be launched in early 2024. This last phase will offer a range of villas, townhouses, and apartments, expanding on the success of the project’s earlier stages. ‘Haven’ marks the first of three new residential communities to be developed in Dubai through a joint venture between Aldar and Dubai Holding.
A Haven Rooted in Nature and Wellness
Aldar’s ‘Haven’ offers more than just residential spaces. It’s a retreat from the city’s hustle and bustle, promoting nature and wellness at its core. Construction for the first phase of the development is slated to commence in the second quarter of 2024, with handovers expected in Q3 2027.
News Source: Arabianbusiness