Aldar Sees International Demand for Its First Dubai Houses
- Sales of 2,400 homes in Haven project to start on Tuesday
- Dubai’s property market has rebounded from a seven-year slump
Aldar Properties headquarters in Abu Dhabi, United Arab Emirates.
Photographer: Gabriela Maj/BloombergThis article is for subscribers only.
Aldar Properties PJSC, Abu Dhabi’s biggest developer, is starting sales of its first housing development in neighboring Dubai as strong demand in the Middle East’s business and tourism hub provides a lucrative opportunity for developers.
The firm is planning three projects in Dubai with a total development value of 20 billion dirhams ($5.4 billion). Its joint venture with Dubai Holding will kick off sales at Haven, a development of 2,400 homes, on Tuesday, Aldar’s acting chief finance and sustainability officer Faisal Falaknaz said in a call with reporters on Monday.