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Dubai: Haven by Aldar sold out

Foreign investors and expat residents buy 77% of the project

Abu Dhabi-based Aldar Properties on Wednesday said it sold out the first two phases of Haven by Aldar, with more than three-fourths of units snapped up by foreign investors and expat residents.

The master developer launched 468 units in the first phase and 318 units. In the second phase. In total, it sold 786 villas and townhouses at the development, generating over Dh3.1 billion in sales. It is the first residential development in Dubai by the company.

Overseas and expatriate resident buyers accounted for 77 per cent of sales, highlighting Dubai’s attractiveness as a major global hub for property investment and long-term residency, while UAE nationals made up the remaining 23 per cent of sales at Haven. Female buyers represent 24 per cent of sales, while male buyers make up the remaining 76 per cent.

Around 51 per cent of all buyers are under the age of 45, indicating the desire of younger generations to reside in communities focused on health and wellness. First-time buyers of an Aldar property account for 85 per cent of sales, underscoring the increasing scale of Aldar’s customer base.

The final phase of Haven, which includes villas, townhouses, and apartments, will launch for sale to buyers of all nationalities in early 2024. Haven is the first of three new residential communities to be developed in Dubai as part of a joint venture between Aldar and Dubai Holding.

Rashed Al Omaira, chief commercial officer at Aldar Development, said: “Haven’s successful sell-out is a testament to Aldar’s track record in delivering high-quality developments, complemented by Dubai’s reputation as an ideal destination for long-term residence.”