Aldar properties, listed on the Abu Dhabi Securities Exchange (ADX), has sold all the 557 plots of land in the first phase of Alreeman 2, Al-Ittihad newspaper reported.
The leading real estate company will continue selling 1,133 land plots of the second and third phases of the project, according to the newspaper.
Maan Al-Awlaqi, executive director at Aldar said that the company has set organized procedures for selling as three outlets have been dedicated for customers to reduce crowding.
He noted that Alreeman 2 was launched due to the growing demand for Alreeman project which was launched early 2019.
The construction work of the project is expected to commence by the end of this year and the delivery would begin as of end-2021, Al-Awlaqi projected.
On 12 June, Aldar announced the launch of Alreeman 2 project with AED 1.7 billion in investments.