Aldar to build $6bn of residences on latest land purchase

• Developer expands presence in Abu Dhabi
• Luxury villas planned on Saadiyat Island
• Communities to be built on Yas Island

Aldar, Abu Dhabi’s biggest developer, has expanded its land bank in the emirate by over 2 million square metres, and aims to deliver 3,000 new residential units.

The combined gross development value is almost AED23 billion ($6.3 billion), the company said in a statement.

Aldar plans to develop luxury residences on its Saadiyat Island plots while land on Yas Island will be used for large-scale, master-planned communities.

The project launches will follow a phased approach aligned with market demand, with the first expected from 2026 onwards. 

Aldar said it expects the strategy to enhance medium to long-term revenue.

Although the developments will be structured through joint ventures, Aldar will retain responsibility for the full development, sales and delivery lifecycle.

“The expansion of our Abu Dhabi landbank reflects our strong conviction in the market’s long-term fundamentals and the depth of opportunity across the capital,” group CEO Talal Al Dhiyebi said.

Further reading:

• Aldar unit announces housing project in London commuter town
• Aldar and Mubadala fund to target GCC real estate
• Aldar’s income-generating assets get $1bn boost

In December a fund management company was launched by Aldar and Mubadala Capital which aims to raise AED3.67 billion ($1 billion) this year by targeting real estate opportunities across the GCC.

Aldar was listed on the Abu Dhabi Securities Exchange in 2005. Its share price fell 0.4 percent to AED9.55 on Monday morning, but is up around 10 percent so far this year.

Abu Dhabi conglomerate International Holding Company owns 33.61 percent of Aldar, according to its 2024 annual report.