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Aldar ..... sees growing appetite for modern quality residence.

Aldar leases 3,000 residential units in Abu Dhabi

ABU DHABI, November 11, 2014

Aldar Properties, a leading property development company in Abu Dhabi, UAE, has announced the successful leasing of almost 3,000 units at its major new residential developments - Al Rayanna, Gate Towers and The Arc.

The company also expanded its rental portfolio threefold to 4,500 units over the last 12 months, strengthening recurring revenue streams and de-risking the business.

The units at Al Rayanna, Gate Towers and The Arc were launched in late 2013 and mid-2014 and the majority of them were leased within nine months, a year ahead of schedule, demonstrating the demand for high quality residential developments in Abu Dhabi, said a senior official.

"We have seen very strong leasing performance in our key residential assets this year. This reflects not only our expertise in successfully taking products to market and managing these assets over time, but the growing appetite for modern high quality residence in Abu Dhabi," remarked CEO Mohammed Al Mubarak.

"This stabilisation of our portfolio translates into secured long-term recurring revenue and reduced risk. This strong platform positions Aldar well for future development sales and leasing programmes," he added.  

Half of Aldar’s leasing portfolio is made up of bulk leases, with major local and international companies seeking innovative solutions and reliable asset management, said a statement from the company.

The agreements with corporate tenants range from two to 30 years, allowing for long-term income visibility and security.

Residents at Al Rayyana, the Gate and Arc Towers enjoy a wide range of high-end facilities and amenities, with close proximity to a broad variety of leisure, sporting and retail offerings, it added.-TradeArabia News Service




Tags: UAE | Aldar | rents | Leasing | residential |

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