Aldar Unveils Dh40B Fahid Island Megaproject in Abu Dhabi

Aldar Properties, Abu Dhabi's largest listed developer, has announced its latest venture: the Dh40 billion ($10.9 billion) Fahid Island development.

Situated between Yas and Saadiyat Islands, this 2.7 million square metre project aims to redefine luxury waterfront living in the UAE capital.

The master plan for Fahid Island encompasses over 6,000 residential units, comprising apartments, townhouses, and ultra-luxury villas. The development will also feature two hotels.

Fahid Island boasts an 11km coastline and is strategically located along the Sheikh Khalifa bin Zayed Highway (E12), connecting it seamlessly to Abu Dhabi's key destinations.

Aldar acquired a 3.4 million square metre land for Dh2.5 billion in January 2023, with the acquisition consideration to be paid over five years.

The first residential development, Fahid Beach Residences, will consist of seven buildings, each featuring 65 residences. Core infrastructure, including schools and bridges, is expected to be ready by the first quarter of 2029, facilitating the initial phase of occupancy.

Sales for the Fahid Island project are expected to commence shortly after the Eid Al Adha holidays, with starting prices at Dh3.5 million ($953,029) for a one-bedroom unit.

Given the project's scale, strategic location, and Aldar's reputation, it is poised to attract significant interest from both local and international investors.