Aldar Properties launches new waterfront residential community on Abu Dhabi’s Yas Island

Over 200 units will be launched on September 8, in the first phase of Gardenia Ba

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Abu Dhabi-based real estate developer Aldar Properties has announced a new waterfront residential community, which will be located on Yas Island. Construction of the first phase of Gardenia Bay is due to begin in Q1 2024 with handovers expected in the second quarter of 2027.

The first phase of the development will see the launch of 210 units on September 8, with prices starting at AED805,000 for studios,  and three-bedroom apartments starting from AED3.1 million. Upon completion, Gardenia Bay will feature more than 2,400 units, comprising studios, one-, two- and three-bedrooms apartments.

The development’s master plan features one kilometre of canal frontage, with the community located opposite Yas Park. According to Aldar Properties, Gardenia Bay will also have direct access to Yas Island’s 10km canal-front promenade. 

According to recent industry reports, the Abu Dhabi real estate sector has been witnessing a rise in off-plan transactions. Real estate portal Property Finder released a market report earlier this month stating Q2 2023 closed with ‘solid investor confidence’ with a notable uptake in new projects and the introduction of innovative developments in the UAE capital.

(Writing by Bindu Rai, editing by Seban Scaria)

(bindu.rai@lseg.com)

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