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The project of Gardenia Bay has sold out

Buildings being launched within the first phase of Gardenia Bay by Aldar Properties in Abu Dhabi, have sold out in just one day. The developer plans to release new residential buildings amid the increased investor interest in the project.

The attractiveness of Abu Dhabi for investors around the world is demonstrated by the fact that 23% of sales were made by non-resident buyers. Expatriate residents made 40% of sales, while Emirati clients totalled 37%.

The Gardenia Bay project enjoys great appeal among young buyers, as 71% of all clients are under 45 years of age. The share of female buyers was 35%, and the share of male buyers — 65%.

About 80% of those buying in Gardenia Bay bought their first property through Aldar Properties, which shows the developer’s diversified client base. Against the background of huge demand, three residential buildings were released for public sale.

The freehold project offers buyers competitive prices for property, as the starting cost of a studio in the community is AED 805K (USD 219K). The minimum price for apartments with three bedrooms is AED 3.1M (USD 844K).

Rashed Al Omaira, Chief Commercial Officer at Aldar Development, said that Gardenia Bay is advantageously located on 0.6mi of canal frontage in the centre of Yas Island. The community is also situated opposite the first family and recreational park in the UAE capital called Yas Park. These factors attract high demand among both local and international investors, who are interested in being closer to nature and wanting better wellness amenities.

The construction of the first phase of Gardenia Bay is anticipated to begin in Q1 2024, and the expected date of handover is Q2 2027.

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