Abu Dhabi Real Estate Market Booms Attracting International Investors | Kanebridge News
Share Button

Abu Dhabi Real Estate Market Booms Attracting International Investors

Abu Dhabi’s real estate market experiences unprecedented growth, drawing international investors.

Tue, Apr 30, 2024 3:17pmGrey Clock 2 min

Prices for affordable apartment rentals increased by nearly 7% in specific areas, reflecting ongoing demand for rental properties throughout the emirate.

Bayut‘s latest detailed market analysis highlights significant growth in Abu Dhabi’s real estate, fueled by rising interest from both local and international investors.

Key trends in Abu Dhabi real estate:

  • Al Reef and Al Ghadeer are preferred locations for budget-friendly apartments.
  • Al Reem Island and Al Raha Beach are top picks for luxury apartment seekers.
  • Al Reef and Khalifa City are increasingly popular for budget villas.
  • Yas Island and Saadiyat Island are leading areas for luxury buy-to-let villas.

The data from UAE’s largest real estate portal, Bayut, shows that sales prices for luxury apartments and villas in popular areas rose by up to 6% in the first quarter of 2024.

Saadiyat Island saw moderate price increases, with luxury apartments and premium villas appreciating by 3.64% and 5.53%, respectively.

Despite a slight drop in the price-per-square-foot for budget-friendly apartments and villas, Al Ghadeer recorded a price increase of 6.02% for apartments and 5.19% for budget-friendly villas.

High transaction volumes signal

DARI, Abu Dhabi’s digital real estate platform, recorded over 4,674 residential property sales transactions valued at more than AED 9.6 billion in Q1 2024, covering both ready properties and off-plan units.

Affordable apartments in Al Reef are becoming attractive investment options with a high projected ROI of 8.30%. Likewise, luxury apartments in Al Reem Island continue to draw investors with a projected rental yield of 6.90%.

Al Ghadeer offers the highest ROI of 7.65 percent for affordable houses, while Yas Island boasts the highest ROI of 6.91 percent for luxury villas.

Growth in the rental market

Khalifa City and Al Khalidiyah are favored for affordable apartment rentals, while Mohammed Bin Zayed City (MBZ City) and Khalifa City are leaders in affordable villa rentals.

Luxury rentals are concentrated in Al Reem Island and Al Raha Beach for apartments, and Al Raha Gardens and Yas Island for premium villas.

Rental rates for apartments in upscale areas increased by up to 9% in places like Saadiyat Island and Al Raha Beach.

Abu Dhabi’s real estate market continues its strong performance from 2023 into the first quarter of 2024.

“Abu Dhabi’s real estate market has carried the momentum of its strong 2023 performance into the first quarter of 2024. When we look at the current market trends, it’s quite clear that there is increasing confidence among both local and international HNWIs that Abu Dhabi real estate is abundant with opportunity and is a prime market for investment. Looking to the future, with mega-projects projects such as Jubail Islands and Ramhan Islands coming to fruition, it’s fair to say that exciting times lie ahead for the capital’s thriving property sector,” said Haider Ali Khan, CEO of Bayut and CEO of Dubizzle Group MENA.

 



MOST POPULAR

Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’

Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual

Related Stories
Property
Tonino Lamborghini Unveils New Luxury Residences in Ras Al Khaimah
Property
AACCI’s Strategic Vision for Enhancing Australia-Arab Trade Relations
Property
DAMAC Launches Phase Two of LAGOON Views in Dubai
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.

 

MOST POPULAR

Chris Dixon, a partner who led the charge, says he has a ‘very long-term horizon’

Americans now think they need at least $1.25 million for retirement, a 20% increase from a year ago, according to a survey by Northwestern Mutual

0
    Your Cart
    Your cart is emptyReturn to Shop