Aldar Properties, a leading UAE-based property development company, has announced that it has sold over 75 per cent of the units within the company's Dh980-million ($267 million) luxury golf and waterfront development, Mayan.

The first phase of Mayan consists of five buildings with a total of 512 units. Of these, inventory remains in only three, with two having sold out completely.

Situated on Yas Island, one of Abu Dhabi’s most exciting destinations, Mayan was launched in November last year with the development consisting of studios, one-, two-, three-, four-bedroom apartments and a select number of villas.

Enabling works have commenced with main construction due to start in the third quarter of 2016, while handover is scheduled to take place during 2018.

Aldar CEO Mohamed Khalifa Al Mubarak said: "We are really encouraged by the performance of Mayan to date - particularly as we close in on selling out across the development. We still have inventory remaining, but we are well placed to begin construction later this year, having already commenced with enabling works on site."

"We have been pleased with the response from the end-user market, demonstrating a healthy appetite for high quality residential community living on Yas Island," he noted.

"In addition to this demand from end users, Mayan is capturing the interest of serious investors who recognise the potential for yield and capital gain. In fact, the selling out of a pair of our buildings within Mayan is the result of two bulk deals - further indication of the resilience of the Abu Dhabi real estate market," stated Al Mubarak.

Set alongside the Yas Links Golf Club and the exclusive Yas beach, Mayan overlooks lush mangroves with views of Abu Dhabi’s skyline and the Arabian Gulf.

"This unrivalled positioning on the island’s landscape, with its contemporary design, high quality finishing and a variety of amenities, makes Mayan a highly desirable location," he added.

Home to four major residential projects by Aldar – Yas Acres, Mayan, West Yas and Ansam – and world-class retail and entertainment attractions, Yas Island has become a destination of choice for those looking for an enriched lifestyle and unique leisure experience.   

In April, Aldar had unveiled plans for Yas Acres, a Dh6 billion ($1.6 billion) project of 1,315 villas on the northern shores of Yas Island. The construction of Ansam, an Andalusian-style development adjacent to Yas Links Golf Course on Yas Island, is continuing to show steady progress.-TradeArabia News Service