UAE developer Aldar launches $1.6 bln villa project

Yas Acres, seen here in this artist's rendition, will consist of 1,315 villas. (Photo courtesy: Aldar)

Abu Dhabi’s Aldar Properties said on Monday it will add new villas to its Yas Island development with a project valued at $1.63 billion.

Yas Acres will consist of 1,315 villas, with the company saying residents will have access to a golf course and club house, parks, schools and a waterfront.

The project will add to Aldar’s Yas Island development, where the emirate’s Formula 1 race track is built, which on completion will house 15,000 residents, the firm said in a bourse statement.

No details were given in the filing on financing or construction timetable.

Last Update: Wednesday, 20 May 2020 KSA 09:48 - GMT 06:48