Aldar Set to Unveil Major Dubai Villa and Townhouse Development by Year-End

Aldar is gearing up to launch a significant new development featuring villas and townhouses in Dubai before the close of the year, marking a key step in the company's broader expansion strategy across the UAE. While the financial value of this new project has not been disclosed, it is slated for construction near Dubai Internet City. Jonathan Emery, Aldar Development's chief executive, shared these details in a recent interview with The National in London. This venture will represent Aldar's fourth project in Dubai, following previous successful launches of The Haven, Athlon, and The Wilds, reinforcing its position as Abu Dhabi's largest listed developer.

"It’s another partnership with Dubai Holding, and it's a very large villa community [with] townhouses and also sits above the Blue Line extension," Mr. Emery stated. This collaboration builds upon an expanded joint venture with Dubai Holding, initially announced in 2023. In February, the partnership was enhanced to include two additional plots in Dubai, with the aim of delivering nearly 14,000 new homes valued at over Dh38 billion in gross development value. The first plot, spanning four million square meters, is situated along Dubai’s eastern growth corridor, opposite Nad Al Sheba. The second plot, located on Palm Jebel Ali, is planned as an ultra-luxury waterfront development comprising both branded and non-branded residences.

These new developments are emerging at a time when buyer caution is increasing due to regional uncertainties, partly influenced by the Iran war. Transaction volumes and values saw a decline in the third quarter. Data from Cavendish Maxwell indicates that Dubai recorded home sales totaling Dh72.6 billion ($19.7 billion) in the three months leading up to September, a 47 percent decrease from the same period last year. The number of transactions also fell by 38 percent to 34,000.

Despite market fluctuations, Mr. Emery remains optimistic, noting, "The customers are still there for the right product. Now, clearly, the international side of the market is the one that's just slowed a little bit. There’s uncertainty and people are taking their time to have a look. But we still believe in the fundamentals … the products that we have brought to the market have all done really well." Aldar, which reported strong financial results in the second quarter, is on track to hand over more than 3,000 units this year, its largest volume of deliveries to date. This figure is expected to rise to 4,500 units next year. Notable projects scheduled for handover this year include the Sustainable City on Yas Island, and the Grove and Louvre Abu Dhabi residences on Saadiyat Island. Aldar's first homes in Dubai are anticipated to be delivered next year at its Haven project near Dubailand.

In September, Aldar also announced a significant partnership with Sharjah-based Arada to develop housing projects on Yas Island and at Seih Sdeirah in Abu Dhabi, with a combined value of approximately Dh15 billion. This collaboration includes a master plan joint venture for a large-scale mixed-use community at Seih Sdeirah, located on the Abu Dhabi-Dubai border, and Arada's acquisition of three residential plots on Yas Island. Mr. Emery affirmed Aldar's continued pursuit of new partnerships with established developers, stating, "Partnerships is a way that we believe we can diversify the customer offer, because you know if we pick the right partner that has a great proposition, maybe they have a great following with their customers … then it’s good to be able to introduce that to our customers as well."