One of the leading development companies in Abu Dhabi, Aldar Properties, purchases Al Fahid Island and plans to develop a USD 7B waterfront project. The destination is located between Saadiyat Island and Yas Island, and upon completion, the development will provide amazing views of iconic mangroves, as well as an almost 3mi stretch of beach land.
Al Fahid Island is a 36.6M sq. ft island with a strategic location on the Sheikh Khalifa bin Zayed Highway, which is the main roadway that connects Yas Island and Saadiyat Island. The developer acquired the land for AED 2.5B (USD 681M).
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With the introduction of an exclusive waterfront project, Aldar is significantly expanding its near-term development pipeline and landbank. About 4,000 properties are planned to be built on Al Fahid Island and the majority of them will provide amazing sea views due to the optimum coastal frontage of over 7mi. Properties will be presented by ultra-luxury apartments, spacious townhouses, as well as beach and mangrove villas.
Community facilities within the island community will include retail and hospitality, a school, restaurants, and much more. Aldar plans to create a vibrant and integrated neighbourhood, which will cater to the demand of local, regional, and international investors.
According to Talal Al Dhiyebi, Group CEO at Aldar Properties, the latest land acquisition has proven the intention of Aldar to develop the most advantageously located and desirable communities in Abu Dhabi. The future waterfront development will have a strong focus on sustainable design and construction, as well as preserving nature on Al Fahid Island. The first phases of the luxurious neighbourhood will be launched towards the end of 2023.
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