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The Sustainable City – Yas Island has achieved 100% sales within one day of its public launch
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The initial phase of the exclusive The Sustainable City – Yas Island has sold out, with sales values exceeding AED 1B (USD 272M). The total number of residences in the first phase of the project constituted 512. Expatriates purchased 76% of the units, of which 24% were overseas investors.
The exclusive sustainability-centric residential project called The Sustainable City – Yas Island, is being developed by Aldar Properties in partnership with Diamond Developers. The complex has achieved 100% sales within one day of its public launch.
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Around 87% of clients acquired their first Aldar property and 66% of investors were under the age of 45. This shows a high demand for sustainability-driven real estate and communities among younger generations and new client segments.
According to the statement by Jonathan Emery, CEO at Aldar Development, the UAE continues to pay special attention to sustainable development. The state formulated its ‘Green Agenda’ and declared 2023 as the Year of Sustainability. The success of The Sustainable City – Yas Island is evidence of the government’s forward-thinking policies and the fact that at the moment, investors are looking for a more sustainable way of living.
In addition, the sales launch of the development was the first fully-paperless sales event for the Aldar developer. Clients completed their transactions digitally, with the use of electronic signatures. Digitalisation will be a greener and more convenient way to transact real estate purchases, made possible by the UAE’s Electronic Transactions and Trust Services (E-Law) Act.
In January 2022, the complex was announced during Abu Dhabi Sustainability Week, and is the product of a joint venture with Diamond Developers, which is the mastermind behind The Sustainable City brand. The construction of the complex is expected to commence in the second quarter of 2023, while the first handovers are anticipated to be in the fourth quarter of 2025.
