Aldar Generates $354 Million From Yas Project as Demand Holds

Aldar Properties PJSC, Abu Dhabi’s largest property developer, generated 1.3 billion dirhams ($354 million) from selling properties in three planned buildings at its Yas Living project, aided by demand from foreign buyers.

The developer, which built the Ferrari World theme park and the Formula 1 race track on Yas Island, sold 678 apartments mostly to expatriate residents and international investors, the company said in an e-mailed statement on Tuesday. The sales are part of the so-called off plan market, where properties are sold ahead of construction.