Aldar Properties, the UAE-based developer, has announced that Magnolias, the third phase of its flagship Yas Acres development on Yas Island, has been completely sold out.
In a statement, the developer said that the results follow on from the strong demand seen for the first three phases of Yas Acres, and the rapid sell-out of the three phases of its adjacent Noya development.
It added that the sale of the 312 spacious townhouses, duplexes and villas at Magnolias generated more than $272 million in sales and demonstrated the ongoing strong demand in the Abu Dhabi market for well-designed and well-located homes.
Commenting on the strong sales performance, Chief Commercial Officer Rashed Al Omaira said: “Yas Acres represents one of the most sought-after communities in Abu Dhabi, and the significant demand we have seen for Magnolias cements this reputation.”
“The spacious, lifestyle-focused homes represent a compelling opportunity for both investors and owner occupiers looking to make Abu Dhabi their long-term home,” he stated.
The developer said it was currently finalising the next phase of Yas Acres with 120 new properties at ‘Dhalias’ set to be released into the market by year end. Construction on Magnolias is expected to begin by the first quarter of 2022, with handovers expected by the third quarter of 2024.
