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Launching of the 510-units project demonstrates the growing interest in premium products in Abu Dhabi's real estate market.
Aldar Properties announced on Saturday, its new residential community Noya in the heart of Yas Island, was sold out in four hours on the first day of the public launch. The sales brought over $270 million to the company, taking the year to date sales to over $800 million.
Launching of the 510-units project demonstrates the growing interest in premium products in Abu Dhabi's real estate market.
Noya project is located in an investment zone, so it was open to clients of all nationalities. So 60% of end-buyers were UAE nationals and 40% were foreigners. In addition to that, most of the buyers turned out to be younger people. 50% of them were under the age of 45 and 20% under the age of 30. The launch also saw a large number of female buyers – 25% out of the total.
The price of townhouses and villas in the new residential development starts from $405 thousand making Noya the first affordable community of this kind on Yas Island.
Commenting on the sales, Aldar Properties said the strong response they received on Noya was the best example of their 'commitment to deliver the right property' meeting the customers' expectations and the market demand. This also indicates that Abu Dhabi’s real estate market is gaining strength and there's solid appetite for well-priced, premium developments in prime locations like Yas Island. A very popular destination, Yas Island is remains increasingly attractive to a diverse mix of buyers who are looking for the right balance of quality, location and lifestyle. So Aldar's new project offers its customers an exciting opportunity to invest and own properties there.
Construction of Noya is scheduled to begin in Q2 2021 with handovers due in Q2 2023. Noya is not Aldar's first development on Yas Island, other company's projects are Water’s Edge, Ansam, West Yas, Yas Acres and Mayan. Over 5,000 units have been launched in the last four years, over 87% of them sold, which is a sign of the growing demand for residential communities on Yas Island.
Each unit in the Noya community will feature its own outdoor space. On top of that, a whole range of amenities is included in the master plan: community gardens, sports facilities, a community pool with adult and kid’s sections, splash pad, gym and multi-purpose room. Residents of Noya will also have access to the island’s schools, golf courses, retail and entertainment destinations and park networks for relaxation and leisure.
