Aldar set to unveil major Dubai villa and townhouse scheme by year‑end

New Dubai villa project

Aldar intends to launch a large villas and townhouses development in Dubai before the end of the year as part of its UAE‑wide expansion.

The value of the project has not been disclosed. It will be situated near Dubai Internet City, according to Jonathan Emery, chief executive of Aldar Development, who spoke to The National in London.

This will be the fourth Dubai venture for Aldar, Abu Dhabi’s biggest listed developer, following the earlier launches of Haven, Athlon and The Wilds.

“It’s another partnership with Dubai Holding, and it’s a very large villa community [with] townhouses and also sits above the Blue Line extension,” Mr Emery said.

Market conditions and delivery outlook

In February Aldar and Dubai Holding expanded their joint venture, which was first announced in 2023, by adding two plots in Dubai that will deliver almost 14,000 new homes with a combined gross development value exceeding Dh38 billion.

The first plot covers four million square metres along Dubai’s eastern growth corridor opposite Nad Al Sheba. The second plot is on Palm Jebel Ali and will become an ultra‑luxury waterfront development offering both branded and non‑branded residences.

Buyer caution has grown amid regional uncertainty linked to the Iran war, causing transaction volumes and values to fall in the third quarter.

Dubai recorded home sales worth Dh72.6 billion ($19.7 billion) in the three months to the end of September, a decline of 47 percent compared with the same period a year earlier, while the number of transactions dropped 38 percent to 34,000, according to the latest Cavendish Maxwell report.

“The customers are still there for the right product. Now, clearly, the international side of the market is the one that’s just slowed a little bit. There’s uncertainty and people are taking their time to have a look. But we still believe in the fundamentals … the products that we have brought to the market have all done really well,” Mr Emery said.

Aldar posted strong second‑quarter financial results and will hand over more than 3,000 units this year, the highest volume since the company’s inception. Deliveries are expected to rise to 4,500 next year.

Among the projects slated for delivery this year are the Sustainable City on Yas Island, and the Grove and Louvre Abu Dhabi residences on Saadiyat Island.

The Abu Dhabi‑listed firm will also hand over its first homes in Dubai next year at the Haven project near Dubailand.

Partnership expansions

In September Aldar and Sharjah‑based Arada announced a partnership to build housing projects on Yas Island and at Seih Sdeirah in Abu Dhabi, with a combined value of about Dh15 billion.

The arrangement includes a master‑plan joint venture to create a large‑scale mixed‑use community at Seih Sdeirah on the Abu Dhabi‑Dubai border, and Arada’s acquisition of three residential plots on Yas Island.

Aldar will continue to seek new partnerships with established developers, Mr Emery said.

“Partnerships is a way that we believe we can diversify the customer offer, because you know if we pick the right partner that has a great proposition, maybe they have a great following with their customers … then it’s good to be able to introduce that to our customers as well,” he said.