Abu Dhabi-based Aldar Properties has acquired Al Fahid Island and will develop a waterfront project on it, the company said on Tuesday.
Al Fahid Island
The land is valued at Dh2.5 billion and the acquisition consideration will be paid over five years, while the island’s gross development value (GDV) stands at Dh26 billion, the company added.
The 3.4 million sqm island is situated on the Sheikh Khalifa bin Zayed Highway (E12), the main roadway that connects Yas Island and Saadiyat Island.
