Aldar Properties launches $313mn residential development, Yas Park Gate

Aldar Properties has launched Yas Park Gate, its latest gated community which will be located on the doorstep of Yas Park, a first-of-its-kind family and recreational activity park in Abu Dhabi.

As a natural progression in the development of the second phase of North Yas, the $313 million residential development will complement the existing communities and feature 508 new homes spanning over 255,000 square meters.

“Yas Park Gate represents the next stage of the broader North Yas masterplan, which will further solidify the island as one of Abu Dhabi’s most sought-after destinations. Our research has shown growing customer demand for amenity-driven communities, so that has been a core focus for this development. As such, we expect to see strong demand from both homeowners and international and local investors seeking an attractive investment opportunity.”

“Yas Park Gate is within walking distance of Yas Park, which will provide residents and visitors with a full suite of recreational, leisure and entertainment offerings on their doorsteps,” added Mr. Al Omaira.

The construction of Yas Park Gate is due to begin in Q1, 2023, with handovers expected to commence in Q1, 2026.

Recently, Apollo Global Management, one of the world’s largest alternative investment managers, acquired an 11.1 percent stake in Aldar Investment Properties (AIP), a subsidiary of Abu Dhabi’s biggest listed developer Aldar Properties, for $400 million.

Aldar Properties has been expanding its real estate portfolio with significant acquisitions. Last month, it signed an agreement with Mubadala Investment Company to acquire four prime Grade A commercial towers in Abu Dhabi Global Market (ADGM) located on Al Maryah Island.

Related: Apollo acquires minority stake in Aldar Investment Properties for $400mn