Aldar reports more than AED 5 billion in sales across two Abu Dhabi projects

The developer reported combined sales for Talay and Yas Riva Reserve on Saadiyat and Yas Islands. Aldar says more than half the buyers were new to the company.

On 29 September, developer Aldar reported that sales across its recently launched Talay and Yas Riva Reserve projects had exceeded AED 5 billion. This is the combined result of two launches, not the performance of one phase or of Abu Dhabi's entire property market. Talay is within Marsa Al Saadiyat on Saadiyat Island; Yas Riva Reserve is a gated waterfront community in the northeast of Yas Island.

According to the company's published figures, 54% of buyers were first-time Aldar customers. UAE nationals accounted for 31%, while expatriate residents and overseas buyers together represented 69%. These percentages describe the buyers of the named projects only. They cannot be used to infer the mix of buyers across every new development in the emirate. Aldar also links demand to the waterfront location and family-oriented residential setting.

For someone comparing Abu Dhabi with Dubai, this is useful evidence of demand for new waterfront communities. Sales value does not, however, show how many apartments or villas remain available, the current price of a particular unit or its future return. A buyer still needs an up-to-date offer, payment plan, project documents, handover date and a calculation of additional costs.

Yas Riva Reserve appeared in our 21 September edition as a new launch. The new development is different: on 29 September Aldar published the combined sales result for two projects. The earlier launch story should not be repeated, and Yas Riva Reserve must not be confused with the older Yas Riva development.