Abi Dhabi-based real estate developer Aldar Properties has launched its first residential community on the Saadiyat Island. The Dh722 million Saadiyat Reserve project covers an area of 422,370 square metres.

The project features 1306 villa plots of various sizes, ranging between 600 to 1,400 square metres that can be used for four, five, or six bedroom residential units. The community will also include community centres, parks, schools, mosques, and other retail facilities.

According to Aldar Properties, the Saadiyat Reserve project is expected to begin within the first three months of 2020, while handover will begin from mid-2022.

Speaking about the project, chief executive officer of Aldar Properties, Talal Al Dhiyebi told the media that, “With the launch of Saadiyat Reserve, we wanted to cater to this demand and the increasing interest in land plot sales in Abu Dhabi.”

He added, “We believe that this project offers an exciting opportunity for potential buyers who are looking to own freehold land and design bespoke homes minutes away from some of the capital’s most inspiring cultural and educational landmarks.”

Aldar is also providing a wide range of payment plans to its customers along with a 5 percent down payment.

Earlier this year, Aldar also announced the Alreeman II project. The Dh1.7 billion residential community in the Alshamkha area of Abu Dhabi covers an area of 2.4 million square metres. The project features 1,690 villa plots, which range between 500 to 1,000 square metres in size.

Aldar has launched the Alreeman II project after the success of its predecessor Alreeman which generated around Dh1.6 billion in sales. While sale has already commenced, construction is expected to begin by the end of the year.