Aldar's new development on Yas Island in Abu Dhabi is sold out in four hours

According to the developer, 53 percent of buyers were under 40 years of age and 31 percent were women.

Abu Dhabi-based Aldar Properties has sold out its recently launched Noya Luma project in four hours. This generated sales of USD 152 million to the company.

According to the developer, 53 percent of buyers of the 189 standalone villas, construction of which is due to begin in November this year, were under 40 years of age and 31 percent were women.

The new villa community is the third phase of Aldar's Noya project on Yas Island. The developer said UAE nationals represented the largest nationality group among buyers standing at 50 percent, followed by Lebanon, Jordan, Canada and Syria. Nearly three quarters, 73 percent, bought an Aldar property for the first time.

Rashed Al Omaira, Chief Commercial Officer at Aldar Development, said, 'To satisfy the needs of our customers, we made the decision to only offer standalone villas at Noya Luma following the significant interest registered in villas at the first two phases and this has proven to be a very successful approach'.

'Similar to other recent launches, we saw growing interest from overseas buyers at Noya Luma and we expect this trend to continue as more and more expats realise the benefits of Abu Dhabi’s recently implemented real estate, residency and investment reforms,' Al Omaira added.

The prices for three-bedroom villas in Noya Luma started from USD 653,500. Handover of units to owners is scheduled for February, 2024.