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Aldar nets $844m in sales from Dubai project sell-out

By Pramod Kumar
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 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

Aldar Properties sold 786 villas and townhouses at its first residential development in Dubai, generating over AED3.1 billion ($844 million) in sales in one day.

The developer launched 468 units in the first phase of Haven and another 318 units due to high demand, the Abu Dhabi-headquartered developer said in a statement.

Overseas and expatriate resident buyers accounted for 77 percent of sales, highlighting Dubai’s attractiveness as a major global hub for property investment and long-term residency.

UAE nationals made up the remaining 23 percent of sales at Haven. Female buyers represented 24 percent of sales, while male buyers comprised 76 percent.

First-time buyers of an Aldar property account for 85 percent of sales.

Sales of the final phase of Haven will be held in early 2024.

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.

Construction of the first development phase is due to begin in Q2 2024, with handovers expected in Q3 2027.

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.

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