Abu Dhabi developer Aldar Properties plans to launch its “mid-market” Meera residential development, located on Reem Island, to the sales market in mid-June.
The two-day sales event on June 13-14 will be held at the Crowne Plaza Abu Dhabi, Yas Island, Aldar said in a statement.
The Meera project, part of in Shams Abu Dhabi, features two 26-storey towers with 408 one, two and three-bedroom apartments. Prices start from AED900,000 ($245,029) for one-bedroom, AED1.2 million ($326,705) for two-bedroom and AED1.6 million ($435,608) for three-bedroom units.
The buildings will be complemented by neighbourhood and community facilities including parks, a public beach, mosque, schools, healthcare facilities and retail outlets.
Mohammad Al Mubarak, Aldar chief executive, said the developer is expecting high interest in the Meera development due to the “strong demand for mid-market residential properties in prime locations in the capital.”
According to an MPM report on Abu Dhabi’s real estate market in the first half of 2015, the emirate is seeing a high demand for studio, one and two-bedroom apartments, with Reem Island attracting considerable interest due to its location, affordability and net rental yield. In 2016, the area is expected to contribute 6.4% to Abu Dhabi’s residential supply.
