King and Crown Prince offer condolence to Iranian president over the deadly port explosion    stc reports strong first-quarter 2025 results with 11% rise in net profit    Virgin Atlantic celebrates one month of nonstop service between London and Riyadh    Saudi Awwal Bank records SR2.1 billion net profit after zakat and income tax for 1Q25    Mahmoud Abbas appoints Hussein Al-Sheikh as PLO vice president in key succession move    Saudi Arabia's entertainment sector attracts 76 million visitors in 2024    Third round of US-Iran nuclear talks concludes with cautious optimism    Multiple casualties reported after vehicle drives into crowd at Vancouver street festival    Duran leads Al Nassr past Yokohama Marinos into AFC Champions League Elite semi-finals    Al Ahli cruise past Buriram into AFC Champions League Elite semi-finals    Saudi Arabia offers condolences to Iran following deadly Bandar Abbas port explosion    Saudi Arabia deports 12,866 illegal residents in a week    SFDA clears first 44-ton medical shipment for Hajj pilgrims    Ministry of Hajj issued over 150,000 Nusuk cards for the Hajj of 2025    Saudi orchestra to perform at Sydney Opera House in May    Al Hilal thrash Gwangju to reach AFC Champions League Elite semi-finals    Saudi Theater Commission launches its Work and Learn Project in UK    The season has begun — and one comment shook us all    Average life expectancy in Saudi Arabia rises to78.8 years    Famed Philippine film star Nora Aunor dies at 71    Pakistani star's Bollywood return excites fans and riles far right    Veteran Bollywood actor Manoj Kumar dies at 87    Bollywood actress vindicated over boyfriend's death after media hounding    Grand Mufti rules against posting prayers and preaching in mosques on social media    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Aldar to further develop Yas, Reem
Published in The Saudi Gazette on 21 - 03 - 2017

Aldar Properties PJSC, Abu Dhabi›s leading listed property development, investment and management company, announced Monday further details of its current investment program. This program will expand Aldar's asset management portfolio, driving growth of recurring revenue.
The investments announced today comprise mid-market residential, hospitality & leisure, and retail assets on Yas Island and Reem Island. They amount to a total of AED1.9 billion and follow the AED1.1 billion already invested in the Daman House acquisition, Al Jimi Mall extension, Al Mamoura school and Repton school.
All projects announced are scheduled to start construction this year and complete during 2019 and 2020. Aldar will capitalize on the untapped potential for high quality mid-market residential property in the heart of Abu Dhabi. Aldar will develop approximately 600 units for inclusion in its residential portfolio on Reem Island.
Shams Marina will comprise 329 marina residences, 192 serviced apartments, 262 key 4 Star Hotel, a club house and private beach.
The 4 Star Yas Mall hotel, attached to the mall, aimed at the family segment of the market. The hotel will have 349 keys, of which 70 will be serviced apartments.
An extension to Yas Island retail portfolio which already includes Yas Mall, IKEA and Ace Hardware and comprising a leasable area of 27,000 square meters, is to be dedicated to the consumer segment of the automotive market. It will contain new car dealerships and F&B outlets.
Mohamed Khalifa Al Mubarak, CEO of Aldar Properties, said: "The investments we are making meet our twin objectives of providing the market with the right products at the right time, while increasing our ability to grow long term recurring revenues. We believe that the underlying fundamentals of Abu Dhabi's economy provide a strong and supportive investment climate, thereby providing us with a solid platform for continued growth."


Clic here to read the story from its source.