02 November 2023, Gulf Business
Aldar Properties has successfully sold out the first two phases of Haven by Aldar (Haven), the company’s first residential development in Dubai.
Aldar launched 468 units in the first phase and due to remarkable demand on launch day, released the second phase with an additional 318 units.
In total, Aldar sold 786 villas and townhouses at the development, generating over Dhs3.1bn in sales, and reflecting the strong appeal of the Aldar brand to homebuyers and investors.
Overseas and expatriate resident buyers accounted for 77 per cent of sales, highlighting Dubai’s attractiveness as a major global hub for property investment and long-term residency, while UAE nationals made up the remaining 23 per cent of sales at Haven. Female buyers represent 24 per cent of sales, while male buyers make up the remaining 76 per cent.
Around 51 per cent of all buyers are under the age of 45, indicating the desire of younger generations to reside in communities focused on health and wellness. First-time buyers of an Aldar property account for 85 per cent of sales, underscoring the increasing scale of Aldar’s customer base.
Haven is the first of three new residential communities to be developed in Dubai
The final phase of Haven, which includes further villas, townhouses, and apartments, will launch for sale to buyers of all nationalities in early 2024.
Haven is the first of three new residential communities to be developed in Dubai as part of a joint venture between Aldar and Dubai Holding, a diversified global investment company with a presence in over 13 countries.
Rashed Al Omaira, chief commercial officer at Aldar Development, said: “We are thrilled to see the remarkable response to our inaugural residential community in Dubai, which confirms our long-held belief that new residential concepts are desired in the emirate by both local and international buyers.
“Our customers demonstrated their excitement about Aldar’s entry to Dubai by turning up in the hundreds at our sales centres in Dubai and Abu Dhabi. Haven’s successful sell-out is testament to Aldar’s track record in delivering high-quality developments, complemented by Dubai’s reputation as an ideal destination for long-term residence.”
Construction of the first phase of the development is due to begin in Q2 2024 with handovers expected in Q3 2027.