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Aldar’s ‘Noya Luma’ development on Yas Island sold out in four hours

Dubai - Over Dh560 million generated in sales and buyers represent 24 nationalities.

Aldar Properties (Aldar) has announced that Noya Luma, the third phase of its highly successful Noya development on Yas Island, sold out within four hours. This follows the rapid sell-out of the first and second phases of the community, demonstrating the persistent demand for high-quality homes on Yas Island. In total, Noya, Noya Viva and Noya Luma have generated more than Dh2.5 billion in the past six months.

Adding to the first two phases, Noya Luma brings 189 standalone villas to the Noya masterplan. Located in an investment zone, Noya Luma is open to all nationalities with buyers at the development representing a total of 24 countries.

The UAE nationals purchased the highest number of units (50 per cent), followed by buyers from Lebanon, Jordan, Canada and Syria. Additionally, 73 per cent of buyers purchased their first Aldar property, while 53 per cent were under the age of 40 and 31 per cent of total purchases were made by women.

Rashed Al Omaira, Chief Commercial Officer at Aldar Development, said: “The entire Noya development has proven to be incredibly popular amongst investors and homeowners, with Noya Luma’s success solidifying the community as one of the most desirable new residential addresses in Abu Dhabi. To satisfy the needs of our customers, we made the decision to only offer standalone villas at Noya Luma following the significant interest registered in villas at the first two phases and this has proven to be a very successful approach."

In total, Dh560 million in sales was generated at Noya Luma. Prices for three-bedroom villas started from Dh2.41 million, while four- and five-bedroom villas started at Dh 2.77 million and Dh3.27 million respectively. The average plot sizes at Noya Luma were larger than their phase two counterparts, allowing for increased indoor and outdoor space.

“Similar to other recent launches, we saw growing interest from overseas buyers at Noya Luma and we expect this trend to continue as more and more expats realise the benefits of Abu Dhabi’s recently implemented real estate, residency and investment reforms,” added Al Omaira.

Construction at Noya Luma is due to begin in November 2021, with handovers expected to commence in February 2024. Noya Luma is the latest addition to Aldar’s residential portfolio on Yas Island, which includes Noya, Noya Viva, Yas Acres, Water’s Edge, Lea, Ansam and Mayan.

Yas Island is a leading leisure and entertainment destination home to the Yas Links Golf Course, Yas Mall, Ferrari World, CLYMB, Etihad Park, Yas Beach, Yas Waterworld and Warner Bros World. The one-of-a-kind tourist destination and vibrant residential hub also comprises of numerous luxury villas, apartments, and hotels.

— business@khaleejtimes.com