Aldar focuses on wellness at Saadiyat development with Zen garden and serenity pool
Aldar Properties , Abu Dhabi’s biggest listed developer, has launched a development of 778 homes across six buildings in Saadiyat Cultural District amid strong property demand. The first phase of Sei Saadiyat will feature 265 homes within two buildings, with sales due to begin on September 16, Aldar said in a statement on Monday. The collection will include one-bedroom, two-bedroom and…
Aldar Properties, Abu Dhabi's leading listed developer, has inaugurated a new development project of 778 homes spread across six buildings in the Saadiyat Cultural District. The initial phase, Sei Saadiyat, will offer 265 units, including apartments ranging from one to three bedrooms, as well as two-bedroom lofts. Sales are slated to commence on September 16. The entire project is centered around promoting wellness, relaxation, fitness, and restorative living, according to Aldar.
The term "Sei" in the project's name, derived from the Japanese language, signifies stillness and calm. The complex includes features such as hot and cold garden pools, a Zen garden featuring a serenity pool, outdoor yoga decks, three indoor gyms, outdoor fitness areas, and sports courts. Additionally, Aldar is introducing a loft-style format to its residential offerings.
The developer plans to unveil more projects in the second half of the year, targeting both the luxury and middle-income segments. As of the end of June, Aldar's development backlog stood at Dh71.6 billion, with Dh59.9 billion originating from the UAE. This significant backlog is anticipated to bolster the company's revenue recognition in the next two to three years.
In its latest financial report, Aldar experienced a 10% increase in second-quarter profit, reaching Dh2.16 billion, as revenue grew by 5% during the period. This growth was observed despite the uncertainties caused by the Iran war.
Recently, Abu Dhabi's sovereign wealth fund, Mubadala Investment Company, bolstered its stake in Aldar Properties through its subsidiary Mamoura Diversified Global. The investment increased Mubadala's ownership in Aldar from 27.01% to 28.03% of the company's issued share capital. This strategic move comes at a time when Abu Dhabi is intensifying its efforts to expand Saadiyat Island into a prominent cultural, residential, and tourism destination.
The island is already home to renowned attractions like Louvre Abu Dhabi, Zayed National Museum, Natural History Museum Abu Dhabi, and teamLab Phenomena Abu Dhabi. Furthermore, the Guggenheim Abu Dhabi museum is set to open soon on the island.
Written by urgent.news from The National Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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