Alreeman II Generates AED 420 Million in Sales On Day One

Abu Dhabi - UAE, June 24, 2019: Aldar Properties PJSC ('Aldar') today announced that its latest development Alreeman II, located in the Alshamkha area of Abu Dhabi, has been a major hit with customers as the first phase within the community generates AED 420 million in sales, with over 75% of the land plots sold. In order to cater to the Company's wide customer base across the Emirate, Aldar will hold a special sales event in Al Ain this weekend on Saturday 29 June. Following the runaway success of Alreeman, launched in January 2019, which generated AED 1.6 billion in sales, Alreeman II is a clear example of the growing pent up demand for affordable land plots in desirable destinations within Abu Dhabi. Of those purchasing land at Alreeman II on the opening day of sales, 70% were brand new customers to Aldar, ushering in a new generation of property owners in the Emirate. Additionally, 20% of customers opted to purchase their land plot on a 50/50 payment plan – taking advantage of Aldar's new fast track sales service, further highlighting the confidence in Aldar's latest community. This positive response to Alreeman II, coupled with the strong performance of Aldar's prior 2019 development launches - Alreeman and Lea, indicates the attractiveness and stability of Abu Dhabi's real estate market as recent reforms take effect and drive sentiment. Aldar is committed to providing an enhanced customer experience for all of those looking to purchase land or homes from the Company. As a result, Aldar chose to hold its sales event at the Yas Marina Conference Centre, specifically designed to accommodate large numbers of visitors in the most comfortable manner possible.  In addition to this, Aldar has tailored the customer journey depending on whether a customer is buying through a broker, direct from Aldar, or on the 50/50 payment.

This continuous focus on the buying experience means that customers are better informed on the product and have the chance to review all materials, and be guided by knowledgeable staff, before completing any sales transaction. Maan Al Awlaqi, Executive Director – Commercial at Aldar, said: "The strong response we received on Alreeman II is a prime example of customer appetite and a great testament to the strength of Abu Dhabi's real estate market. Following the success of Alreeman in January, we wanted to ensure a much smoother customer journey and an enhanced experience with Alreeman II – and we were pleased to receive a lot of positive comments from our customers – in particular those who had never bought from us before. This launch confirms that there is pent up demand for affordable, infrastructure enabled land plots in Abu Dhabi, where owners can build their homes to their exact specifications and taste. Alreeman II is a real growth story with 70% of buyers being new customers to Aldar, and we look forward to taking this new development on the road to Al Ain this coming weekend." Alreeman II is a AED 1.7 billion master-planned residential community, available exclusively for purchase by UAE Nationals. Spread across an area of 2.4 million square metres, the development features villa plots ranging from 500 to 1,000 square metres in size. The community offers residents a wide range of amenities including a school, retail offerings, parks, mosques, and running and cycling tracks catering to their specific needs and interests. Construction of Alreeman II will commence at the end of 2019, with the first handovers commencing from the end of 2021. Alreeman II is located in close proximity to the Abu Dhabi International airport, key arterial highways and some of Abu Dhabi's major infrastructure projects and lifestyle destinations, including Yas Island, Zayed City, New Al Falah, Masdar City, and Mohammed Bin Zayed City.