The Bloom Living project, developed by Bloom Holding in Abu Dhabi, has begun its second phase and will eventually include more than 4,000 residential apartments.
The second phase, Toledo, includes townhouses and detached villas and is named after the ancient Spanish city.
Prices start from Dh1.6 million ($435,670) and completion is due in the second quarter of 2025, the developer said in a statement on Monday.
The latest launch comes after the project’s first phase, Cordoba, “sold out within four hours of release” to the market, Bloom Holding said.
“The encouraging sales to date is a testament to our approach of offering a community that sets a benchmark in mixed-use luxury … and we are confident that these units will be equally well-received,” said Carlos Wakim, chief executive at Bloom Holding.
Bloom Living, which will span an area of 2.2 million square metres, will include a clinic, two international schools and a plaza with shops, cafes and restaurants.
The project will be close to Abu Dhabi International Airport and Zayed City, also known as Khalifa City C. The first phase is scheduled for completion by October next year.
A large lake in the heart of the district is intended to be a focal point around which residents can walk, run and cycle.
Abu Dhabi recorded 7,474 property transactions worth more than Dh22.51 billion in the first six months of the year, as the UAE’s property market continues to rebound from the coronavirus-induced slowdown.
Bloom Living is one of a number of significant property projects announced in Abu Dhabi this year.
Others include Aldar’s Yas Golf Collection, Yas Gate Park on Yas Island, and apartments at Grove District on Abu Dhabi’s Saadiyat Island.
On Saadiyat Island, Aldar is also building The Louvre Residences. Reem Hills, an $8 billion gated community, has been announced for Reem Island. Imkan is building the second phase of its Riviera development on the coast between Abu Dhabi and Dubai.
