Aldar, a master developer based in Abu Dhabi, is introducing its extensive expertise in building mixed-use communities to Dubai with the opening of “Haven by Aldar,” situated across from Al Habtoor Polo Resort along the E611 corridor.
Out of a total of 2,428 units, the first lot of 462 wealthy residences at Haven will go on sale. Three-bedroom townhouses will start at Dh2.5 million, while three-bedroom villas will start at Dh3.5 million. Aldar announced earlier this year that it would be partnering with Dubai Holding to launch in Dubai. Three initiatives, all of which are communities, are intended to be launched.
Phase I construction at Haven is scheduled to start in Q2-2024, with handovers anticipated in Q3-2027. Estate agents claim that the three-year timeline for completion will be highly valuable to investors, particularly considering Aldar’s proven track record of delivery in Abu Dhabi.
The demand in Dubai is very much there, now and into the future, according to a top Aldar official. “As Dubai sets its sights on doubling its population by 2040, the need to increase the residential supply is clear,” said Jonathan Emery, CEO of Aldar Development.
The Abu Dhabi track record includes large-scale projects such as the Yas and Saadiyat islands. It’s a tack that Aldar plans to bring to the Dubai ventures. “We are seeing ongoing demand in Dubai for communities that are well-located, with residents eager to have everything they need within a short proximity of their homes,” said Emery. “This is the beauty of the Aldar proposition – we can bring our expertise in everything from education to retail, and leisure to hospitality.
“As these communities come to life, they will transform some of the last untouched plots along the E311 and E611 corridors, situating them in the heart of suburban Dubai, close to other prominent neighborhoods and attractions.”
One of the two mega-launches in Dubai this year that end users and investors had been anticipating is the Aldar development. Of course, the other one is the Palm Jebel Ali. According to market sources, Aldar’s community will be quite popular with end customers as well, particularly because the supply of available villas is starting to run a little low.
Expand reach beyond Abu Dhabi
Aldar had previously acquired a few prestigious assets in Ras Al Khaimah, notably Al Hamra Mall. This is the company’s second new domestic market outside of Abu Dhabi.
“Ras Al Khaimah has immense potential, and our recent ventures in the emirate stand as a testament to its proven success,” said Emery.
“In 2022, we made significant acquisitions, including Rixos Bab Al Bahr and DoubleTree by Hilton Resort & Spa Marjan Island. The redevelopment plan for Al Hamra Mall is underway, with the project being rolled out in phases and set to be completed in mid-2024.
“Aldar is always on the lookout for fresh opportunities and will continue to eye the horizon for expansion within Ras Al Khaimah.”
As for more Dubai land additions, Emery said: “The land bank we are developing alongside Dubai Holding is robust and serves our immediate plans. But Aldar prides itself on being forward-looking and agile.
“When the right opportunities arise, we will certainly consider expanding our land bank in Dubai…”
What Aldar’s ‘Haven’ is about
- Townhouses and villas will “predominately” make up the units in the Dubai complexes.
- A spa, zen gardens, and a meditation pavilion are among the amenities of this almost one-million-square-meter complex.
- The Haven project will be the first community in the United Arab Emirates to carry both certifications, having been awarded both Fit-Well 3 Star and LEED Gold sustainability ratings.