Leading Abu Dhabi developer Aldar Properties has announced that its newest residential community, Noya, located in the heart of Yas Island, got sold out within four hours of the public launch, thus generating over AED1 billion ($272.2 million) in sales.
The launch of the 510-unit freehold property demonstrates the strong interest in the Abu Dhabi real estate market for premium products.
Located in an investment zone, Noya was open to customers of all nationalities, where 60% of end-buyers were UAE nationals and 40% were non-UAE nationals.
Noya attracted a younger customer base with 50% of buyers under the age of 45 and 20% under 30, representing the highest youth penetration.
A major highlight of the sale was a strong women turnout representing 25% of female buyers. The master-planned residential development is the first affordable townhouse and villa community on Yas Island, with prices starting at AED1.49 million.
On the solid reasponse, Rashed Al Omaira, Executive Director (Commercial) Aldar Properties, said: "The strong response we received on Noya is a prime example of our commitment to deliver the right property that meets the market demand and expectations of customers."
It is also a clear testament to the strength of Abu Dhabi’s real estate market and the solid appetite for well-priced, premium developments in prime locations like Yas Island," stated Al Omaira.
"As one of Abu Dhabi’s most sought-after destinations, Yas Island continues to attract a diverse mix of buyers who are looking for the right balance of quality, location and lifestyle, and we are very excited to offer our customers the opportunity to invest and own properties in such unique developments," he added.
Construction of Noya is due to begin in Q2 2021, with handovers to commence in Q2 2023.-TradeArabia News Service