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Real Estate

Aldar and Diamond to launch the "Sustainable City - Yas Island" in UAE

Jan 22, 2022 | 1 minute read
Abdulrhman Elsanhoury News Editor
Aldar Properties has entered into a partnership agreement with Diamond Developers to implement the “Sustainable City - Yas Island” project with a value $0.49 billion. The project will span an area of 379,000 sqm, comprising 864 various housing units (apartments and townhouses), and scheduled to commence in Q4 2022.
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Aldar Properties has entered into a partnership agreement with Diamond Developers to implement the “Sustainable City - Yas Island” project with a value $0.49 billion. The project will span an area of 379,000 sqm, comprising 864 various housing units (apartments and townhouses), and scheduled to commence in Q4 2022.
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Aldar Properties announced an agreement with Diamond Developers, the mastermind behind The Sustainable City brand, to form a joint venture (JV) to implement “Sustainable City - Yas Island” project, which upon completion, will form a community that meets the highest standards of environmental sustainability and green economy, Aldar Properties report.

The Sustainable City-Yas Island will span an area of 397,000 sqm in Yas North, comprising 864 townhouses and apartments and 3,000 sqm of retail, it will be powered by renewable energy, which will enable residents to save up to 100% on energy bills.

In the same context, the masterplan amalgamates green, energy-efficient, and indoor vertical farming, in addition to residential and retail elements, an equestrian center, a mosque, cycling and jogging tracks, and spacious landscaped areas.

Construction of the AED 1.8 billion (USD 0.49 billion) project is scheduled to commence in Q4 2022, with a 30-month completion target.