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HANDOVERS UNDERWAY AT ALDAR’S THE BRIDGES ON REEM ISLAND AND YAS ACRES ON YAS ISLAND

HANDOVERS UNDERWAY AT ALDAR’S THE BRIDGES ON REEM ISLAND AND YAS ACRES ON YAS ISLAND

HANDOVERS UNDERWAY AT ALDAR'S THE BRIDGES ON REEM ISLAND AND YAS ACRES ON YAS ISLAND

 

  • • Construction of 3 towers completed at The Bridges
  • • Handovers underway in first two precincts of Yas Acres
  • • Significant progress made on other projects throughout Abu Dhabi

 

26 April 2020 - Abu Dhabi, UAE: Aldar Properties ('Aldar') today provided its latest update on projects under development across Abu Dhabi.

On Reem Island, handovers at The Bridges have commenced following completion of the first three towers offering 636 apartments. Construction progress of the remaining three towers is advancing at pace. The Bridges will feature pop-up shops, a café, and outdoor fitness equipment to inspire dynamic lifestyles. Also on the island, Reflection, a 374-apartment development, is making strong progress and is almost a quarter complete.

Solid progress is being made across all of Aldar's developments on Yas Island. The first two precincts at Yas Acres, the flagship golf and waterfront villa and townhouse development, have commenced handover to customers. Final installations are currently taking place in precinct D, with upcoming activity focused on laying asphalt and undertaking snagging works.

In line with its commitment to digital transformation, Aldar has made virtual home tours available for its customers. With numerous homes being handed over, specialised disinfection services are also taking place in line with Aldar's efforts to ensure a safe and seamless handover process. New customers, or those who plan to register their titles during 2020 can avail themselves of Abu Dhabi Municipality's recent waiver of the 2% registration fees, in addition they can benefit from Aldar service charge waivers for the first year.

To support customers who have purchased, or are looking to purchase homes in The Bridges and Yas Acres, as well as the already handed over Mamsha Al Saadiyat and Jawaher, Aldar has partnered with leading finance providers ADCB, ADIB and FAB to offer conventional and Islamic home finance at 1.99% fixed for three or five years and with payment deferrals up to six months.

Construction progress passed the half-way point for Aldar's Water's Edge development at the heart of Yas Island, which consists of 13 mid-rise residential blocks and is comprised of studios, one, two and three-bedroom apartments. Onsite activity at the Lea development has focused on general surveying and ground preparation as well as trench lowering for sewerage and drainage for the 238 land plots.

Rashed Al Omaira, Executive Director – Commercial at Aldar Properties, said: "We are proud to have started the year with a number of handovers including The Bridges and Yas Acres. The Bridges brings the very best of Reem's canal, park, waterfront and city skyline views, and Yas Acres emphasises a sense of community with leisure at the heart of everyday life. All of our other developments are seeing solid progress and we look forward to delivering new homes to our customers in the coming period. Aldar is also committed to ensuring the health, safety and wellbeing of all people working on site. In the current environment, we are strictly monitoring the government mandates and are in close contact with our contractors and suppliers to ensure that all safety guidelines are diligently met and that all of our people and sites remain safe on all various levels."

Progress continues at the Alreeman community in Al Shamkha, passing the quarter completion milestone. The mixed-use development has seen deep utilities installed, which will continue this quarter alongside installation of shallow utilities such as gas networks and irrigation. Preliminary design approvals have been obtained for Aldar's Alreeman II community dedicated to UAE Nationals. This quarter, detailed design will be completed, with earth works and sewer network installation commencing.

The spacious Alghadeer development has reached the half-way point, with hollow core structure for all residences complete. Sitewide infrastructure including connecting houses to sewerage networks and the installation of the on-site gas network will continue throughout the next quarter.


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