Aldar Properties has announced its plan of launching the second phase of the AED 6 billion Yas Acres project, following the selling of the first phase for over AED 1 billion, The National reported.
The company is planning on start selling 125 homes under the second phase, which will include three-bedroom townhouses, three and four-bedroom duplexes, and four to six-bedroom villas, with prices starting from AED 2.9 million.
“We are extremely pleased by the response that the first phase of Yas Acres has generated,” said, Chief Executive of Aldar Properties, Mohamed Al Mubarak said. “With the launch of the second phase we are confident that Yas Acres will be the next successful chapter in the Yas Island story.
A number of 1,315 new homes are being built at Yas Acres over a total area of 811,108 square meters, which includes a golf course, club house, parks and schools.
The project launched in April, and is due to be completed in 2019.
The relative stability in rental rates is “a clear indication that there is demand in the market,” Aldar Chairman said pointing out that there isn’t much supply in Abu Dhabi, according to Gulf News.