Today's Edition
SAYED AL HAJJAR (ABU DHABI)
Saadiyat Island has attracted more investors in recent months, with the launch of several new projects witnessing strong sales, especially from foreign buyers, real estate officials and experts confirmed to Aletihad.
They said that Saadiyat Island provides various options for investors, with the continued launch of new projects attracting diverse segments of investors from different categories.
Since the beginning of last year, Aldar Properties has launched five new projects on Saadiyat Island, providing about 1,200 residential apartments and villas. A recent report issued by the Bayut website on the performance of the real estate sector in the emirate of Abu Dhabi during the first quarter of 2024 showed that the prices of luxury apartments and villas in the most sought-after areas recorded an increase of about 6% during the first quarter of 2024.
New Projects
Last March, Aldar Properties announced the launch of the Nooran Living project in the Marina area on Saadiyat Island, which will include 372 residential units, with prices starting from Dh750,000. Construction work on the project is scheduled to begin during the last quarter of 2024, with the delivery phase of the units starting in the last quarter of 2027. In February 2023, Aldar Properties launched the Manara Living project on Saadiyat Island, which will include 237 homes for all nationalities near Manarat Saadiyat.
Noticeable Activity and Return on Investment
Rashid Al-Toubasi, Chairman of the Board of Directors of Belgravia Real Estate Company, confirmed that Saadiyat Island is witnessing remarkable activity with the continuous launch of new projects that attract more investors from various categories. He pointed out that the high demand for Saadiyat real estate enhances the opportunities for launching more new projects on the island, especially with the strong sales achieved in all projects launched on the island.
Ahmed Salah Rabie, Director of Platinum Home Real Estate Company, pointed out that Saadiyat Island is one of the most popular areas for purchasing villas and residential apartments in Abu Dhabi, which is directly reflected in the selling and rental prices on the island.
