Leading UAE developer Aldar has announced that it had sold 80% of the homes released at Yas Park Place, its key residential community in the heart of Yas Island, generating over AED800 million ($218 million) in sales.

Overlooking Yas Central Park, Yas Park Place comprises six mid-rise buildings offering a collection of studios, one-, two-, and three-bedroom homes, as well as two-bedroom duplexes, within a walkable, garden-led community in the heart of Yas Island.

In the Phase I, four buildings had been released for sale, with the remaining two buildings to be released in the second phase, said Aldar in a statement.

The sales performance was supported by a series of customer events in Abu Dhabi, Dubai, London, Hong Kong and Shanghai.

According to Aldar, expatriate residents and international buyers accounted for 54% of total sales, with notable demand from buyers from Jordan, China, Taiwan, and the UK. Forty-six percent of sales were completed by UAE nationals, highlighting continued confidence in the Aldar brand amongst local investors.

In addition, 83% of customers were first-time Aldar home buyers, underscoring the development’s broad market appeal and Aldar’s expanding customer base, it said.

Demand was also driven by younger buyers, with 66% of customers under the age of 45, reflecting the continued appeal of Yas Island among a diverse range of buyers and investors, stated the developer.

CEO Jonathan Emery said: "We are highly encouraged by the strong market response to Yas Park Place, with sustained demand from both domestic and international investors reaffirming Abu Dhabi’s position as a compelling, long-term investment destination with robust underlying fundamentals."

The project’s sales performance also reflects the depth and resilience of the UAE customer base, alongside the continued expansion of Aldar’s international sales platform.-TradeArabia News Service