A significant 83% increase in home sales in Abu Dhabi | Kanebridge News
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A significant 83% increase in home sales in Abu Dhabi

Fri, Mar 1, 2024 5:33pmGrey Clock < 1 min

The recent British real estate consultancy Savills’ report highlighted a significant 83% increase in home sales in Abu Dhabi, fueled by the arrival of digital nomads and expatriates.

The report mentioned that the capital of the UAE witnessed, in 2023, 11,200 property transactions, which represents a substantial rise from the previous year. This increase in sales of both villas and apartments has been attributed to several government initiatives, a flourishing economy, and the introduction of new residential projects.

Savills notes that Abu Dhabi’s appeal to expats and digital travellers has played a crucial role in this growth, positioning the emirate as the fourth most attractive location for executive travellers, according to the Savills Executive Nomad Index, trailing only behind Dubai, Malaga, and Miami.

The emirate has become a favorite among executive nomads from Northern Europe, thanks to its remote working visa and golden visas aimed at drawing property investors and skilled professionals in creative sectors, financial services, and startups.

The demand surge has prompted the launch of over 8,000 new housing units in the past year, observes Stephen Forbes, Head of Savills Abu Dhabi. He also mentions improvements in market transparency, which have made Abu Dhabi more attractive to a wider array of investors and end-users, including foreign nationals and the Emirati population.

In terms of property types, luxury villas and townhouses were in high demand in 2023, with 4,800 units sold, making up 43% of the year’s total sales. A significant majority of these, 84%, were off-plan purchases, with waterfront properties on Saadiyat Island, Yas Island, and Al Reem Island being particularly sought after.

Apartments, however, constituted the majority of transactions, representing 57% of all sales, with off-plan purchases accounting for 69% of apartment sales.



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Tonino Lamborghini Unveils New Luxury Residences in Ras Al Khaimah

Tonino Lamborghini recently revealed a new luxury project comprising 241 units in Ras Al Khaimah, developed in partnership with Arista Developments.

Tue, May 21, 2024 2 min

Named the Tonino Lamborghini Residences, this project promises a fresh take on luxury living with its iconic design, cutting-edge amenities, and stunning sea views.

Set on Al Marjan Island, the development is adding 241 high-end units to the area’s real estate offerings, all reflecting the sleek, Italian elegance associated with the Lamborghini name.

These residences are designed to impress, featuring modern architecture that harmonizes with the scenic surroundings and interiors marked by meticulous craftsmanship and top-quality finishes.

Living in this one of the project’s units means access to a range of upscale amenities: a state-of-the-art fitness center, multiple swimming pools, beautifully landscaped gardens, and dedicated areas for children’s play. The complex also offers a business center with a conference room, an outdoor BBQ area, and a chic café, catering to all aspects of high-end living.

Arch. Abdulla Al Abdouli, Chief Executive Officer, Marjan, expressed excitement about the introduction of Tonino Lamborghini Residences to Al Marjan Island, noting the project’s blend of sustainable construction and smart home technologies. This integration, he mentioned, guarantees a luxurious lifestyle equipped with the finest modern amenities, reflecting the exquisite Italian craftsmanship. He is confident that this new venture with Arista Developments will significantly boost the allure of Al Marjan Island as a top lifestyle destination in Ras Al Khaimah for both investors and residents.

Tonino Lamborghini, President of the Tonino Lamborghini brand, said: “We are delighted to be among the pioneers in this remarkable new destination in one of the seven emirates of the UAE. Our heartfelt gratitude and recognition go to H.H. Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, for his visionary leadership and foresight, and for embracing innovative strategies to revitalize a region full of potential.”

Mr. Arthur Chu, Chairman of Arista Developments, highlighted the project’s ambition to capture the essence of the Tonino Lamborghini brand in every aspect of its design. He described the development of a prestigious residential tower on Al Marjan Island that will reflect the lifestyle and beauty synonymous with Lamborghini. From the sharp, well-defined lines of the exterior to the elegantly designed interior common areas, every detail is crafted to showcase the brand’s distinctive elegance and sophistication. Chu emphasized that the interior designs, personally crafted by Tonino Lamborghini, aim to fully immerse residents in the Italian brand’s luxurious identity.

The variety in housing options is vast, ranging from one and two-bedroom apartments to duplexes, sea view villas, signature villas, and exclusive penthouses.

The collaboration between Tonino Lamborghini and Arista Developments blends iconic Italian style with expert real estate craftsmanship. This venture marks Lamborghini’s first introduction to Ras Al Khaimah and represents a commitment to setting new standards in luxury and modern living.

 

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