Gardenia Bay by Aldar Properties

Developer Aldar Properties has announced that the first three buildings in the Gardenia Bay community sold out in just 24 hours. Emirati buyers accounted for 37% of sales, and expat residents — 40% of sales. The remaining 23% of transactions were made by non-residents, which confirms the popularity of Abu Dhabi among foreign citizens living outside the country.

The developer has expanded its customer base, as about 80% of Gardenia Bay owners have never bought a property by Aldar before. The project has attracted plenty of young people, as 71% of clients are under 45 years old.

Due to its high demand, three buildings have also been put up for public sale. Real estate in Gardenia Bay is available to individuals of all nationalities and residences are offered at great prices. The initial cost of a studio is AED 805K (USD 219K), and a 3-bedroom apartment can be purchased from AED 3.1M (USD 844K).

Rashed Al Omaira, Chief Commercial Officer at Aldar Development, said that both local and foreign investors are interested in the community of Gardenia Bay, which is located on the shoreline of the canal on Yas Island. The successful start of sales highlights the investment attractiveness of the emirate, as well as the popularity of Yas Island as a world-class location for living on the coast. Sales are expected to increase as new developments are launched.

Gardenia Bay will be located opposite Yas Park, and some of Abu Dhabi’s most famous attractions, including Ferrari World Abu Dhabi, Yas Mall and Sea World Abu Dhabi are located near the neighbourhood. From the project, residents can easily reach Abu Dhabi International Airport and the highways that go directly to the centre of the emirate, Saadiyat Island and Dubai.

The construction of the first buildings in Gardenia Bay are scheduled to begin in the first quarter of 2024. The estimated date of handover is expected in the second quarter of 2027.