Aldar launches $2.73bn masterplan for mixed-use project in UAE

WCN Editorial Team 18 Apr 2018 MIDDLE EAST BUILDINGS

Aldar Properties has launched an AED10bn ($2.73bn) masterplan for the Alghadeer mixed-use project near Dubai-Abu Dhabi border in the UAE.

The masterplan comprises 14,408 units, including villas, townhouses, and maisonettes. Total residential gross floor area (GFA) is set to exceed 1.3 million m² and will be complemented by office space, retail space, hospitality, education and community amenities.

Aldar Properties CEO Talal Al Dhiyebi said: “The launch of Alghadeer is clear statement of Aldar’s ambition. From its strategic location to its sustainable living initiatives, Alghadeer signals the creation of a new way of living for UAE residents, now and in the future.

“We are confident of the demand for a community which offers a distinct lifestyle - peaceful residential neighbourhoods, within close proximity to the bustling cities of Abu Dhabi and Dubai.

“The scale and 15-year timeframe of the development underlines Aldar’s confidence in the Abu Dhabi residential market.”

Alghadeer will also include Harvest, a multi-use agricultural led space featuring allotments; The Hub, a F&B outlet; The Studio, an educational area for training and workshops; The Shed, a dedicated area for purchasing farming tools and supplies; The Market, a retail area for freshly grown produce; and The Field, where people can rent plots and grow their own produce.

It will also feature lakes, running and cycle tracks, gym, camping and BBQ sites and gardens and parks lit by solar energy.

The Alghadeer masterplan includes schools, hotel, public garden areas, community swimming pools, multi-use sports areas and community centres. It will have easy access to the UAE’s arterial highways.

Aldar will launch the first neighbourhood of 611 homes for sale during Cityscape Abu Dhabi from 17-19 April 2018. This neighbourhood is located to the northwest of the masterplan and near Alghadeer’s central amenities such as Harvest.

Construction of the first neighbourhood is scheduled to begin in 2018 and will be completed during 2021.

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