Dubai: The Abu Dhabi master-developer Aldar is bringing its considerable skills at creating mixed-use communities to Dubai, with the launch of ‘Haven by Aldar’ located in an area opposite Al Habtoor Polo Resort long the E611 stretch.
Sales of the first lot of 462 upscale homes – out of an eventual 2,428 units – at Haven is set to start, with 3-bedroom townhouses starting Dh2.5 million and 3-bedroom villas from Dh3.5 million. It was earlier this year that Aldar confirmed its entry plans for Dubai, tying up with Dubai Holding. The plan is to launch three projects, all being communities.
Construction of the first phase of Haven is to begin in Q2-2024, with handovers expected in Q3-2027. The 3-year timeframe for deliveries to start will have significant currency with investors, estate agents say, especially given Aldar’s track record on delivery in Abu Dhabi.
The demand in Dubai is very much there, now and into the future, according to a top Aldar official. “As Dubai sets its sights on doubling its population by 2040, the need to increase the residential supply is clear,” said Jonathan Emery, CEO of Aldar development.
The Abu Dhabi track record includes large-canvas projects such as the Yas and Saadiyat islands. It’s a tack that Aldar plans to bring to the Dubai ventures. “We are seeing ongoing demand in Dubai for communities that are well-located, with residents eager to have everything they need within a short proximity of their homes,” said Emery. “This is the beauty of the Aldar proposition – we can bring our expertise in everything from education to retail, and leisure to hospitality.
“As these communities come to life, they will transform some of the last untouched plots along the E311 and E611 corridors, situating them in the heart of suburban Dubai, close to other prominent neighbourhoods and attractions.”
The Aldar development is one of two mega-launches that investors and end-users had been looking to in Dubai this year. The Palm Jebel Ali obviously is the other one. Market sources say that Aldar’s community will find heavy traction with end-users too, especially as the available stock of villas are running a bit dry.
Expand reach beyond Abu Dhabi
This is the second new domestic market for Aldar outside of Abu Dhabi, having earlier acquired a handful of blue-chip assets in Ras Al Khaimah, including Al Hamra Mall.
“Ras Al Khaimah has immense potential, and our recent ventures in the emirate stand as a testament to its proven success,” said Emery.
“In 2022, we made significant acquisitions, including Rixos Bab Al Bahr and DoubleTree by Hilton Resort & Spa Marjan Island. The redevelopment plan for Al Hamra Mall is underway, with the project being rolled out in phases and set to be completed in mid-2024.
“Aldar is always on the lookout for fresh opportunities and will continue to eye the horizon for expansion within Ras Al Khaimah.”
As for more Dubai land additions, Emery said: “The land bank we are developing alongside Dubai Holding is robust and serves our immediate plans. But Aldar prides itself on being forward-looking and agile.
“When the right opportunities arise, we will certainly consider expanding our land bank in Dubai…”
What Aldar’s ‘Haven’ is about
- The units at the Dubai developments will ‘predominantly’ be villas and townhouses.
- The community is nearly 1 million square meters and features a meditation pavilion, zen gardens, and a spa.
- The Haven project will have LEED Gold and Fit-Well 3 Star sustainability ratings – and be the first community in the UAE to hold both certifications.
This Article is originally published on: https://gulfnews.com/
