ALDAR SELLS OUT PHASE ONE OF ITS FIRST RESIDENTIAL COMMUNITY IN RAS AL KHAIMAH IN 48 HOURS

• 420 units sold at the residential community on Al Marjan Island, totalling more than AED 1 billion in sales
  
• Overseas and expatriate resident buyers account for 87%
  
• First-time Aldar buyers represent 86% of sales
  
• Due to the success of phase one sales, Aldar is now launching an additional 150 units to the market

Abu Dhabi, UAE – 7 December 2023: Aldar Properties (‘Aldar’) announced today the successful sell-out of phase one of its first residential development in Ras Al Khaimah, which includes the highly sought after Nikki Beach Residences. In the first 48 hours of launch, Aldar sold 420 beachfront units totalling more than AED 1 billion in sales at the development located on Al Marjan Island.

The strength of sales shows the growing demand for the short-term stay and second home market in Ras Al Khaimah and is a testament to the emirate’s emergence as both a residential and investment destination. 

Overseas and expatriate resident buyers account for 87% of sales, while 60% of all buyers are under the age of 45. First-time buyers of an Aldar property account for 86% of sales, showcasing the brand’s growing appeal amongst a wider customer base.

Following the successful sell-out of phase one, Aldar has released an additional 150 for sale. Catering to the growing demand for branded and premium residences, the community offers a range of spacious one- to five-bedroom apartments, featuring expansive balconies with panoramic ocean views. Residents will enjoy a suite of exclusive services, including 24/7 concierge and valet parking. Designed to offer a resort-like lifestyle, the community will boast a range of amenities: a beach lounge, a modern clubhouse, games room, sauna, yoga deck, kids' areas, and gyms with ocean views.

Commenting on the sales performance, Rashed Al Omaira, Chief Commercial Officer at Aldar Development, said: “We are delighted with the response to our first-ever residential community in Ras Al Khaimah, which has validated our long-held view that the market is primed for a branded residential product that facilitates short-term stays. We are creating a community proposition that provides residents and guests with resort like barefoot living, and the success of phase one indicates that our customers truly believe in the concept and Ras Al Khaimah as an investment destination. As we unveil phase two, we anticipate continued interest from buyers who seek a unique blend of luxury, service excellence, and beachfront living."

Nestled between the Rixos Bab Al Bahr and Doubletree by Hilton – both owned by Aldar – the community is ideally situated to offer residents easy access to several leisure and entertainment attractions, including Al Hamra Golf Club, Al Hamra Marina and Yacht Club, and the recently refurbished Al Hamra Mall, which has a range of new F&B and retail experiences.