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The company did not disclose the value of the sale of 71 plots sold exclusively to UAE residents.
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Construction of the second phase of the Al Gurm likely to begin in September.
DUBAI: Abu Dhabi’s Aldar Properties has sold out land plots in the second phase of Al Gurm development, a beachfront community in the emirate.
Local media reports said all 71 plots of 900-4,400 sqm area and available exclusively to UAE nationals were sold for a value the company did not disclose.
Rashed Al Omaira, Chief Commercial Officer at Aldar Development said the continuing demand for real estate investment opportunities in Abu Dhabi was evident in multiple sell-out launches of the company’s turnkey developments on Yas Island and Saadiyat Island in recent months, and now the Al Gurm sales.
The construction of the second phase of Al Gurm—the first was completed in 2010—is due to begin in September 2021.
The reports said Aldar Properties posted a net profit of $148.12 million in the first quarter of 2021.
