Aldar Properties has announced that over 75 percent of its luxury golf and waterfront development, Mayan, has been sold.
The first phase of Mayan consists of five buildings with a gross development value of AED980 million and 512 units. Of the five buildings, inventory remains in only three, with two having sold out completely, the developer said in a statement.
Situated on Yas Island, Mayan was launched in November last year with the development consisting of studios, 1, 2, 3, 4 bedroom apartments and a select number of villas.
Enabling works have commenced with main construction due to start in the third quarter of 2016, while handover is scheduled to take place during 2018.
Mohamed Khalifa Al Mubarak, CEO at Aldar Properties, said: “We are really encouraged by the performance of Mayan to date – particularly as we close in on selling out across the development.
“We still have inventory remaining, but we are well placed to begin construction later this year, having already commenced with enabling works on site. We have been pleased with the response from the end user market, demonstrating a healthy appetite for high quality residential community living on Yas Island.”
In April 2016, Aldar Properties unveiled plans for Yas Acres, a AED6 billion project of 1,315 villas on the northern shores of Yas Island. The construction of Ansam, an Andalusian style development adjacent to Yas Links Golf Course on Yas Island, is continuing to show steady progress.