Aldar Properties, Abu Dhabi’s largest listed developer, has launched Sei Saadiyat, a new residential project featuring 778 homes across six buildings within the Saadiyat Cultural District. This development responds to robust property demand in the emirate, particularly on Saadiyat Island, an area rapidly expanding as a significant cultural, residential, and tourism hub.
The initial phase of Sei Saadiyat will encompass 265 residences distributed across two buildings, with sales scheduled to commence on September 16. The collection includes a range of living spaces, from one, two, and three-bedroom apartments to two-bedroom lofts, introducing this format to Aldar’s residential portfolio. The project’s design prioritizes wellness, relaxation, fitness, and restorative living, aligning with a growing market trend towards integrated lifestyle amenities.
Residents of Sei Saadiyat will have access to a comprehensive suite of wellness facilities. These include hot and cold garden pools, a dedicated Zen garden featuring a serenity pool, and various outdoor yoga decks. For fitness enthusiasts, the development offers three indoor gyms, multiple outdoor fitness zones, and sports courts, providing diverse options for physical activity and relaxation.
Aldar’s strategic launch comes amidst a period of strong financial performance. The company reported a 10 percent annual increase in its second-quarter profit, reaching Dh2.16 billion, supported by a 5 percent rise in revenue during the same period. Furthermore, Aldar’s group development backlog stood at Dh71.6 billion ($19.49 billion) by the end of June, with Dh59.9 billion attributed to projects within the UAE. This substantial backlog is projected to drive the company’s revenue recognition over the next two to three years.
The developer’s financial strength and operational capacity were further underscored by Mubadala Investment Company, Abu Dhabi’s sovereign wealth fund, which increased its stake in Aldar Properties. Through its subsidiary, Mamoura Diversified Global, Mubadala raised its shareholding from 27.01 percent to 28.03 percent of Aldar’s issued share capital. This investment reinforces confidence in Aldar’s growth trajectory and its pivotal role in Abu Dhabi’s real estate landscape. Aldar has also indicated plans to unveil additional projects in the second half of the year, targeting both luxury and middle-income housing segments.
