Leading UAE developer Aldar Properties has announced the launch of its new free-hold waterfront project, LEA, which will be developed on the northern shores of Yas Island in Abu Dhabi.

Featuring 238 residential plots in a prime location adjacent to Aldar’s flagship Yas Acres project, LEA boasts parks, promenades, and waterside walkways, stated the developer.

In addition to this, residents benefit from all of the amenities within Yas Acres such as parks, swimming pools, play areas, bbq and picnic areas, schools, mosques and the Yas Acres full length nine hole golf course, it added.

The launch comes following the hugely successful sellout of Alreeman, a $545-million freehold development located in the Alshamkha area of Abu Dhabi, in January, thus highlighting the significant demand for well-priced land upon which to build a bespoke home.

Aldar said as a special launch offer, it will be selling the land plots of sizes - ranging from 405 sq m to 1,800 sq m - at prices starting from Dh990,000 ($269,494) onwards to visitors of all nationalities during the Cityscape Abu Dhabi expo which runs from April 16 to 18.

Unveiling the project, CEO Talal Al Dhiyebi said: "LEA represents a fantastic opportunity for any purchaser tobuy land and build their dream home on Yas Island. We know that there is pent up demand for this type of product, and the runaway success of Alreeman - generating Dh1.6 billion ($435 million) in sales - supports that."

Combining the opportunity to acquire land with all of the attractions and amenities of Yas Island is a hugely compelling proposition that no-one else can offer, remarked Al Dhiyebi.

"We look forward to launching sales for LEA at Cityscape when the spotlight can really shine on what makes Abu Dhabi such an attractive place for investment," he stated.

"Also as an opening offer, these plots will be available on an attractive 40/60 payment plan along with a 5% down payment on our stand during the expo," he added.

Yas Island is a core pillar of Aldar’s destination development strategy and features the completed residential communities Ansam and West Yas as well as the under-construction Mayan, Yas Acres and Water’s Edge.

It is the setting for the Abu Dhabi Formula 1 championship, and other attractions such as Yas Mall, Ferrari World, Yas Waterworld and Warner Bros World, multiple hotels and the world renowned Yas Links golf course, said the Emirati developer.

In addition to this Yas Island is the site for the Abu Dhabi Media Zone’s new twofour54 campus which will bring a working population of 10,000 people to the island, it added.-TradeArabia News Service