ALDAR LISTS ABU DHABI’S FIRST REGULATED SHORT STAY APARTMENTS

• ‘Cloud Living’ offers flexible stay options, all-in-one pricing with no hidden costs or utilities
• Furnished homes at Aldar’s “The Bridges” and “Arc Towers” on demand
• Aldar branches into global short-term stay market valued at $116 billion per year
• Aldar worked with Department of Culture and Tourism - Abu Dhabi and Lavanda to devise a new regulatory framework that enables fully flexible short and medium-term leasing

Abu Dhabi, UAE – 31 January 2022: Following the implementation of the Department of Culture and Tourism – Abu Dhabi’s new holiday home regulations and licensing platform, Aldar today announced the launch of Cloud Living. Developed in partnership with UK tech pioneer Lavanda, the pioneering short-term leasing website is the first of its kind in Abu Dhabi and provides individuals and families with exclusive and flexible stay options in modern homes within Aldar’s integrated communities.

Visitors and residents will now have the chance to experience a premium lifestyle in some of the most sought-after destinations in Abu Dhabi, hassle free, and without the need for long term commitments. Aldar is providing flexible leasing options with the convenience of single billing, where all short leases will include utilities and management fees with no hidden costs.

The leases offered by Cloud Living accommodate stays for as short as one night and listings on offer range from studios to 3-bedroom apartments, furnished or unfurnished, in “The Bridges” and “ARC Tower”, both located on Al Reem Island. Following an initial pilot phase, Cloud Living has already been rated as a ‘super host’ on Airbnb for its properties available at The Bridges.

In keeping with Aldar’s strategic focus on innovation in real estate, Cloud Living is powered by a next-generation technology platform that puts flexibility, convenience, and simplicity at the heart of its customer journey and experience. Pioneering a digital first strategy allows Cloud Living to measure, manage, and optimise the experience of its customers - a core foundation that will enable continued excellence as the platform scales across the region and beyond. It is also set to be the first technology implementation of its kind in the UAE, with Aldar accessing a global market worth $116 billion, as estimated in industry specialist Skift’s 2020 Short-Term Rental Market report.

Commenting on the launch of the platform, Maan Al Awlaqi, Executive Director – Strategy and Transformation at Aldar Properties, said: “The launch of Cloud Living is testament to our commitment to develop new products and solutions that satisfy our customers’ desires. It also meets the needs of Abu Dhabi’s rapidly evolving real estate market and contributes to the rise of the global gig economy which is set to reach $347 billion by the end of 2021.

“We understand that convenience and flexibility are vital when choosing a home or booking a vacation, and that is exactly what Cloud Living offers. Whether you are a digital nomad who can work from anywhere, a family that is relocating, or a tourist, this platform has been designed to provide flexible stay options without long-term commitments. We look forward to welcoming guests to our most sought-after destinations in Abu Dhabi soon.”

Hamad Mohammed Saeed Alsudain, Licensing & Regulatory Compliance Department Director at the Department of Culture and Tourism - Abu Dhabi said: “We are delighted to have collaborated with Aldar and Lavanda to develop the regulatory framework this innovative and forward-thinking Cloud Living initiative will operate under. The framework helps enable the flexible short and medium-term leasing for all segments of the community and for all our international guests, to ensure a seamless and hassle-free experience.”

Guests visiting The Bridges will avail of the very best of Reem Island’s canal, park, waterfront and city skyline views. Aldar has completed the first three towers at ‘The Bridges’, which offer 636 apartments. The remaining three towers are nearing completion, and will feature pop-up shops, a café, and outdoor fitness equipment to encourage active lifestyles. The Arc Towers development acts as a gateway to the Shams neighbourhood, which is modelled to resemble prominent structures such as England’s Stonehenge and Greece’s Pantheon. It offers a retail and leisure podium with a wide range of shops, cafes and restaurants. Both The Bridges and Arc Towers offer close access to central Abu Dhabi, the corniche, and the cultural and entertainment attractions on Saadiyat Island.

Customers can access the Cloud Living platform through https://cloudliving.reservations.direct