Construction Aldar to break ground on first Dubai project next year By Pramod Kumar October 27, 2023, 5:24 AM Aldar 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 Abu Dhabi’s largest developer launches Haven Development comprises 2,428 units Further projects planned for prime locations Aldar Properties, Abu Dhabi’s largest developer, has launched its first Dubai residential project, Haven, with construction of the first phase starting in the second quarter of 2024. The project will be developed with its joint venture partner Dubai Holding on the land opposite Al Habtoor Polo Resort in Dubailand. Aldar’s Haven will be built in line with the standards of Fitwel, a healthy building certification, aiming to achieve a three-star rating and offering “wellness-inspired suburban living”. The first phase of the development, covering one million square metres, is set to be launched on October 31 when the developer will sell the first 462 townhouses of the total 2,428 units in the community. The first phase of handovers will start in Q3 2027. Aldar says occupancy in its prime office space at 97% Five completes $322m deal for Ibiza hotel business Rapid growth for Dubai retail despite rising costs Talal Al Dhiyebi, group CEO at Aldar, said: “With Dubai’s real estate market continuing to experience strong growth, we look forward to expanding our presence in the emirate as we focus on further geographical and sector diversification.” He added that the developer will build three communities in prime suburban locations. In February, Aldar and Dubai Holding signed a joint venture agreement to develop real estate projects across prime locations in Dubai. The developments, which will be launched through a phased plan, will have more than 9,000 units consisting of villas, townhouses and apartments supported by retail and community facilities with a total gross floor area of 1.8 million sq m.
