Real Estate Aldar says Fahid Island development will cost $11bn By Pramod Kumar June 3, 2025, 11:16 AM Aldar The Fahid Island development will have a 4.6km beachfront on one side and mangrove forests on the other, with retail and hospitality components Aldar Properties, the largest Abu Dhabi-listed developer by market capitalisation, will build more than 6,000 luxury residences on Fahid Island, one of its largest mixed-use masterplans in the emirate. The gross development value of the project is estimated at more than AED40 billion ($10.89 billion), the developer said in a statement. The company announced the purchase of the island in January 2023 for AED2.5 billion. The gross development value was then estimated at AED26 billion, housing more than 4,000 residential units. Fahid Beach Residences, comprising seven buildings, each with 65 residences, will be the first residential development. No construction timeline was given. According to Aldar, Japanese architects Kengo Kuma and Koichi Takada have designed two separate residential concepts on the island. London-headquartered ACME and UAE-based NAGA Architects are designing more residential projects. The 2.7 million sq m island will have a 4.6km beachfront on one side and mangrove forests on the other, with retail and hospitality components. Abu Dhabi developer Aldar reports $520m first quarter profit Aldar’s green sukuk seven times oversubscribed UAE property developers bank on huge order backlogs The island will also have a 10km berm park with running and cycling tracks connected to the Abu Dhabi cycle loop. The master plan will promote eco-friendly mobility, featuring pedestrian bridges that link the two sides of the island, as well as 15km of public walkways and a 10km running loop. Additionally, the project will feature 6.5 acres of open space per 1,000 residents, according to the Aldar website. Aldar shares were trading 0.4 percent lower at AED8.25 on Tuesday morning. Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later Register now: It’s easy and free AGBI registered members can access even more of our unique analysis and perspective on business and economics in the Middle East. Why sign uP Exclusive weekly email from our editor-in-chief Personalised weekly emails for your preferred industry sectors Read and download our insight packed white papers Access to our mobile app Prioritised access to live events Register for free Already registered? Sign in I’ll register later
