Aldar’s Dh3.8b housing move to spur Abu Dhabi realty boom

Aldar Investment has announced a sweeping Dh3.8 billion exercise to build new homes for the rental sector across Abu Dhabi, underlining its confidence in long-term demand and recurring income streams.

- Issac John [e-mail]

The fund will go into residential developments on Al Shamkha and Yas Island — two areas at the heart of Abu Dhabi’s growth plan —while the company also expands into commercial and logistics assets, lifting its develop-to-hold pipeline to Dh17.6 billion.

Chief Executive of Aldar Investment, Jassem Salah Busaibe, said the strategy responds to “strong demand for residential rental units, Grade A commercial space and logistics real estate in Abu Dhabi. The develop-to-hold strategy is a core growth driver, enabling us to significantly expand our diverse portfolio of income-generating assets across the UAE while responding to client requirements for professionally managed commercial, residential, logistics, hospitality, retail and education assets.”

On the residential front, Aldar plans a major community in Al Shamkha offering almost 2,000 units — studios, one-, twoand three-beds — targeting the rental market with lifestyle amenities, open green space and community retail. The location benefits from proximity to Zayed International Airport and fast highway links connecting Abu Dhabi and Dubai.

On Yas Island the developer will deliver 665 rental residences, including a gated community of 217 townhouses and villas aimed at young professionals and families, and 448 apartments linked to the island’s staff housing pool.