9.8 C
London
Wednesday, April 24, 2024
HomeBusinessBeachfront to CBD, Abu Dhabi Real Estate is in Hot Demand

Beachfront to CBD, Abu Dhabi Real Estate is in Hot Demand

Real estate transactions in Abu Dhabi hit AED15.9 billion in Q1 2024 and shows no signs of slowing down.

- Advertisement -spot_img

Real estate transactions in Abu Dhabi hit AED15.9 billion in Q1 2024 and shows no signs of slowing down.

The value of real estate transactions in the Emirate of Abu Dhabi reached AED15.9 billion during the first quarter of 2024, recording 5,127 sales and mortgage transactions on various types of real estate units.

According to data from the DARI platform of the Department of Municipalities and Transport in Abu Dhabi, the emirate logged 2,919 sales and purchases transactions in Q1 2024 totalling over AED9.6 billion. This includes 1,167 ready-made real estate units and 1,752 off-plan units.

DARI data showed that the Emirate of Abu Dhabi recorded about 2,208 mortgage deals during Q1, with a total value of AED6.3 billion.

Meanwhile, the top three real estate transactions logged in Abu Dhabi during the past week, with Al Saadiyat Island and Yas Island topping the list of the largest transactions for Aldar Properties projects. The total value of transactions on Yas Island amounted to AED23.5 million, while the one on Al Saadiyat Island totalled AED14.3 million.

The upward trend continues with the release of the latest development, Bada Al Jubail by Jubail Island Investment Company (JIIC). This development is an exclusive beachfront community featuring luxurious mansions on Jubail Island, at a development value of AED4 billion, spanning over 446,000 square metre of land with 8 kilometres of beach frontage.

Owned by JIIC and developed and managed by LEAD Real Estate Developer, Jubail Island will house six residential villages nestled among the natural beauty and rich biodiversity of the mangroves.

According to JIIC Managing Director Mounier Haidar, plot areas on Bada Al Jubail will range from 2,000 sqm to 6,000 sqm, with nine typologies of mansions ranging from 1,100 sqm to 3,000 sqm.

“Following the soft launch of Bada Al Jubail, which received an overwhelmingly positive response, and with the recent handover of the residential units on Jubail Island, homeowners are beginning to appreciate the island’s unique value proposition. This is attracting affluent buyers and investors seeking a unique blend of exclusivity, world-class amenities, and an investment opportunity in a growing and dynamic market,” says Haidar.

According to Haidar, the new community will offer residents a designated 30-yacht marina and a full range of watersport experiences with expert boating staff overseeing the use of the facilities, a yacht club, members’ lounge, a cigar bar, cycle tracks and jogging paths, a wellness centre and spa, a fitness studio, and a kids club.

“Residents of Bada Al Jubail will also have access to Jubail Island’s many amenities, including private schools, beach clubs, retail destinations, restaurants, and 1.4 million square meters of parks and open spaces. It is only a short drive from Downtown Abu Dhabi, offering a prime location with excellent connectivity options,” says Haidar.

Bada Al Jubail is due for completion by the end of 2027.

- Advertisement -spot_img
- Advertisement -spot_img

Stay Connected

1,000FollowersFollow

Must Read

- Advertisement -spot_img

Related News

- Advertisement -spot_img

LEAVE A REPLY

Please enter your comment!
Please enter your name here