News

This February, construction of a new residential project Fay Al Reeman II began in Al Reeman, an upscale villa community in the Abu Dhabi district of Al Shamkha. The complex will consist exclusively of opulent villas in a contemporary architectural style. Buyers will be able to choose the appearance of their future home and adapt its interior and exterior to meet their requirements. By default, the indoor spaces will be finished in beige shades and complemented with stylish accessories. Customers can currently pay for the residence in instalments by the 40/60 plan, when 10% of the property value is paid upon signing the contract, a half of the amount is paid in instalments as individual construction stages are completed, and the remaining 40%, upon commissioning. A 30/70 instalment plan...

Yas Park Gate is the latest project announced by Aldar Properties and inspired by consumer desire for community living. Its construction has just begun near Yas Park, Abu Dhabi’s first family and entertainment park of this kind. 508 new residences with a total floor area of over 255,000 square meters will be part of a residential project worth AED 1.15 billion (USD 313 million). Two and three-bedroom townhouses will cost upwards of AED 1.74 million (USD 432,700), and four-bedroom villas, upwards of AED 3.2 million (USD 871,200). The sales will open on September 1. Homes in the gated community will feature attractive architecture in the Mediterranean style. There will be two interior color options to choose from. The developer will start building Yas Park Gate in the first quarter...

Many high-profile projects have been built in the UAE over the past few years, from shopping malls with mountain ski slopes to record-tall towers. During the pandemic, time seemed to stop for most of the world, but the Emirates’ cityscape continued evolving. High-rise buildings became even taller, land plots were cleared, and new projects were announced. Abu Dhabi will soon feature new impressive landmarks to draw the attention of people from all over the world. Here are the most fascinating ones: AlJurf This Riviera-styled project sprawling for 1.6 kilometers along the coast of the Persian Gulf, between Abu Dhabi and Dubai, was developed by Imkan. The first phase that consists of 293 small rancho-style villas is planned for completion by mid-2023. The community’s...

According to a new report from ValuStrat (a consulting firm), in the second quarter of 2022, the rental for Abu Dhabi residences dropped to the record low since 2016. The average occupancy rate in the city is 81%. The ValuStrat Price Index (VPI) that measures the cost of rent in Abu Dhabi reduced by 3.4% compared to the previous quarter of 2022 and reached 72.3 points, which is 27.7% below the 2016 level. This index is based on five communities with rental apartments and villas. The rentals were almost 7% lower than last year. The rent for villas reduced by 2.3% quarter-on-quarter and by 6.8% year-on-year, while the rent for apartments dropped by 4.3% quarter-on-quarter and by 7% year-on-year. Apartments in Al Reef were an exception from this negative trend, as their rentals actually...

Ain Al Maha is a new community that will be built on one of Abu Dhabi’s iconic landmarks, Jubail Island, by 2025. The project’s total value is estimated at AED 10 billion (USD 2.7 billion). The developer believes the time is ripe for this project, as 90% of its current properties is already sold out. The new project will spread across 153 hectares and consist of 240 seaside houses. Ain Al Maha will be close the southernmost point of Jubail Island. The community will be nestled by the park and the water canal and will offer luxurious homes overlooking the sea and the island’s mangrove forests. Amenities on Jubail Island are 95% complete. 40% of villas are still at the development stage. The developer primarily intended to create a reclusive and private environment when...

In addition to the luxurious Nurai Island Resort, one of Abu-Dhabi’s largest developers has recently purchased two new islands near Abu Dhabi to build villas on. Aldar will implement the Nurai Island Resort restoration plan and expand the range of hotel services and fast-food restaurants. This acquisition enables Aldar to create the supply of high-end offerings that are very attractive for sophisticated clients and real estate buyers. The opulent Rixos Bab Al Bahr Hotel in Ras Al Khaimah was purchased by Aldar earlier, lending additional significance and diversification to its hospitality business. Aldar also bought a shopping mall in Ras Al Khaimah at approximately the same time. The purchase deal on the two islands enables the company to develop its potential further and improve...

The new offering was a response to the growing demand for purchasing land from foreign citizens and local residents. Since last year, the prices of land and real estate in the UAE have increased, so more and more people want to purchase a land plot as an investment or a way of building a house of their own. The bank is ready to finance up to 60% of the land plot value, and waive early settlement charges of up to 30% of outstanding finance each year. The Abu Dhabi Islamic Bank (ADIB) announced the launch of the first-ever plot finance program in July. Clients can use it to purchase land as an investment or fulfillment of their dream of becoming homeowners. The terms and conditions allow the clients to purchase property or make plot handover payments if they have found a property in an...

One of Abu Dhabi’s largest developers has recently announced the launch of the Grove District project located on Saadiyat Island, the emirate’s new cultural center. Three of the island’s major landmarks are minutes away from the future project: Zayed National Museum Louvre Abu Dhabi Guggenheim Abu Dhabi All of them will be partially visible from the panoramic windows of the residential project’s apartments within the Aldar Saadiyat Grove development. Upon completion, the project will include 612 luxurious residences across five residential towers surrounded with convenient amenities and iconic landmarks. According to Rashed Al Omaira, Commercial Director at Aldar Development, “Grove District is the latest residential project by Aldar in Saadiyat...

Data from the sector’s leading analysists suggests that the second half of 2022 will look even better for the Abu Dhabi real estate market, which has started off the year pretty well, thanks to mega projects, extension of Etihad Rail, and growing oil prices. In the first quarter of 2022, slightly more than 3,300 transactions worth over AED 11.3 billion were made in the Abu Dhabi market. According to a report from Zoom Property Insights, the second quarter is forecasted to have a similar performance, which will lay the foundation for a confident 2022 performance. Recent studies by Asteco (a company with expertise in the real estate market) suggest that intense activity in the Abu Dhabi real estate market over the first three months of 2022 was caused by several government...

In the first quarter of 2022, just over 3,300 transactions worth more than AED 11.3 billion (USD 3.076 billion) were made, which suggests that the Abu Dhabi real estate market is off for a good start. According to Zoom Property Insights, the second quarter’s performance is going to be similar, laying the foundation for a successful year 2022. In 2021, 6,000 residential properties entered the Abu Dhabi real estate market. In 2022, however, their number will be even greater. Analysts forecast that by the end of 2022, several thousand more properties will become available in the market, so their total amount will exceed 7,000 units. As a result, house prices will keep growing in the second half of the year, albeit at slower rates. Some data suggests that the demand for luxurious...

The demand from international buyers from all over Europe has been growing considerably in the Abu Dhabi real estate market. Some real estate agencies actually recorded a demand growth of up to 50% over the first four months of 2022 compared to the same period last year. The influx is caused by different reasons, such as the growing freehold areas that facilitate business migration, Abu Dhabi’s unparalleled safety, its family-oriented lifestyle, and the city’s considerate measures to fight the Covid-19 pandemic. International clients pay in cash and come from Austria, Germany, Italy, France, Romania, Poland, Russia, Kazakhstan, the United Kingdom, and Australia. The value of real estate increased by more than 75% compared to the same period last year. It means that not only...