Aldar Properties, Abu Dhabi’s biggest listed developer, is partnering with global hospitality company Hilton to develop Waldorf Astoria Residences on Yas Island.
The launch follows an announcement by Miral that a Disney theme park will be built on Yas Island, which is expected to increase Abu Dhabi's tourism potential and property demand in the island.
Aldar did not provide the total value of the project or its completion timeline but said it will offer an “exclusive selection” of premium furnished apartments and penthouses.
“Our partnership with Hilton will bring the Waldorf Astoria brand to Abu Dhabi for the first time, and further bolster the emirate’s position as a global destination of choice for both investment and long-term residency,” Talal Al Dhiyebi, group chief executive at Aldar, said in a statement on Monday.
The launch comes after the announcement of the Disney Theme Park Resort project last week, following a partnership agreement between the Walt Disney Company and Miral.
The new project will be fully developed and built by Miral, with Disney leading the creative design and operational supervision. Miral will also operate the theme park once the construction is complete.
The new project adds to other attractions in Yas Island including Ferrari World, Warner Brothers, Sea World Abu Dhabi and Yas Waterworld.
Last year, more than 38 million visitors visited Yas Island, 10 per cent more than the previous year, and theme park visits rose by 20 per cent.
In addition to the Disney attraction, there are plans to expand Yas Waterworld and add new rides to Ferrari World and Warner Bros World Abu Dhabi.
Aldar's latest launch also comes as demand for property remains strong across the UAE amid government initiatives such as residency permits for retired and remote workers, expansion of the 10-year golden visa programme and overall growth in the economy on diversification efforts.
Abu Dhabi recorded real estate deals worth Dh25.3 billion in the first quarter, up 34.5 per cent compared to the same period last year. Total transaction volumes reached 6,896, compared to 5,773 deals in the first quarter of last year, according to the latest report from the Abu Dhabi Real Estate Centre.
Saadiyat Island was the leading area for real estate transactions, recording deals amounting to Dh5.6 billion, followed by Yas Island, with Dh3.6 billion, and Mohammed Bin Zayed City, with Dh2.1 billion.
Sales for the Waldorf Astoria Residences are expected to begin in the coming weeks, according to Aldar.
Waldorf Astoria's global portfolio includes more than 20 residential properties currently open or in development.
Aldar, which reported nearly a 25 per cent jump its first quarter profit, announced the launch of Yas Riva, a villa community on Yas Island, last year.
It also unveiled Sama Yas, featuring a collection of 234 apartments, duplexes, and penthouses.
Killing of Qassem Suleimani
COMPANY PROFILE
Name: Lamsa
Founder: Badr Ward
Launched: 2014
Employees: 60
Based: Abu Dhabi
Sector: EdTech
Funding to date: $15 million
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The five pillars of Islam
KILLING OF QASSEM SULEIMANI
Mohammed bin Zayed Majlis
The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
Read part four: an affection for classic cars lives on
Read part three: the age of the electric vehicle begins
Read part one: how cars came to the UAE
Tuesday's fixtures
Kyrgyzstan v Qatar, 5.45pm
COMPANY%20PROFILE
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Killing of Qassem Suleimani
Killing of Qassem Suleimani
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Dubai works towards better air quality by 2021
Dubai is on a mission to record good air quality for 90 per cent of the year – up from 86 per cent annually today – by 2021.
The municipality plans to have seven mobile air-monitoring stations by 2020 to capture more accurate data in hourly and daily trends of pollution.
These will be on the Palm Jumeirah, Al Qusais, Muhaisnah, Rashidiyah, Al Wasl, Al Quoz and Dubai Investment Park.
“It will allow real-time responding for emergency cases,” said Khaldoon Al Daraji, first environment safety officer at the municipality.
“We’re in a good position except for the cases that are out of our hands, such as sandstorms.
“Sandstorms are our main concern because the UAE is just a receiver.
“The hotspots are Iran, Saudi Arabia and southern Iraq, but we’re working hard with the region to reduce the cycle of sandstorm generation.”
Mr Al Daraji said monitoring as it stood covered 47 per cent of Dubai.
There are 12 fixed stations in the emirate, but Dubai also receives information from monitors belonging to other entities.
“There are 25 stations in total,” Mr Al Daraji said.
“We added new technology and equipment used for the first time for the detection of heavy metals.
“A hundred parameters can be detected but we want to expand it to make sure that the data captured can allow a baseline study in some areas to ensure they are well positioned.”
Killing of Qassem Suleimani
Zayed Sustainability Prize
Zayed Sustainability Prize
US Industrial Market figures, Q1 2017
Vacancy Rate 5.4%
Markets With Positive Absorption 85.7 per cent
New Supply 55 million sq ft
New Supply to Inventory 0.4 per cent
Under Construction 198.2 million sq ft
(Source: Colliers)
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Brave CF 27 fight card
Welterweight:
Abdoul Abdouraguimov (champion, FRA) v Jarrah Al Selawe (JOR)
Lightweight:
Anas Siraj Mounir (TUN) v Alex Martinez (CAN)
Welterweight:
Mzwandile Hlongwa (RSA) v Khamzat Chimaev (SWE)
Middleweight:
Tarek Suleiman (SYR) v Rustam Chsiev (RUS)
Mohammad Fakhreddine (LEB) v Christofer Silva (BRA)
Super lightweight:
Alex Nacfur (BRA) v Dwight Brooks (USA)
Bantamweight:
Jalal Al Daaja (JOR) v Tariq Ismail (CAN)
Chris Corton (PHI) v Zia Mashwani (PAK)
Featherweight:
Sulaiman (KUW) v Abdullatip (RUS)
Super lightweight:
Flavio Serafin (BRA) v Mohammad Al Katib (JOR)
Day 2, Abu Dhabi Test: At a glance
Moment of the day Dinesh Chandimal has inherited a challenging job, after being made Sri Lanka’s Test captain. He responded in perfect fashion, with an easy-natured century against Pakistan. He brought up three figures with a majestic cover drive, which he just stood and admired.
Stat of the day – 33 It took 33 balls for Dilruwan Perera to get off the mark. His time on zero was eventful enough. The Sri Lankan No 7 was given out LBW twice, but managed to have both decisions overturned on review. The TV replays showed both times that he had inside edged the ball onto his pad.
The verdict In the two previous times these two sides have met in Abu Dhabi, the Tests have been drawn. The docile nature of proceedings so far makes that the likely outcome again this time, but both sides will be harbouring thoughts that they can force their way into a winning position.
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The specs
Engine: 3.0-litre six-cylinder turbo
Power: 398hp from 5,250rpm
Torque: 580Nm at 1,900-4,800rpm
Transmission: Eight-speed auto
Fuel economy, combined: 6.5L/100km
On sale: December
Price: From Dh330,000 (estimate)
