Nine Yards is about to sign contracts worth USD 544M for the construction of a complex on Yas Island

The developer Nine Yards, is a joint venture between Al Nahda International Holding Group and Ethmar International Holding. According to Ahmed Selet, CEO at Nine Yards, the developer is about to sign contracts worth AED 2B (USD 544M) for the construction of a complex in a coastal community in Yas Bay, on Yas Island.

The company has announced a new project called Sea La Vie with a total area of 3.2M sq. ft, featuring 668 residential units. Properties for sale here include 1–4 bedroom apartments, lofts, townhouses, duplexes and penthouses. The handover is scheduled for 2026.

The project will be created with environmentally friendly technologies. These are planned to be applied at all stages of construction and during the operation of the complex in order to reduce carbon dioxide emissions. The materials involved in the project will comply with Estidama and LEED for Homes standards.

Ahmed Selet noted that the company has decided to develop the complex in the UAE because of the rapid recovery of the country’s economy after the COVID-19 pandemic. The company also has 2–3 projects in the pipeline within the Emirates as well.

The UAE real estate market, and Abu Dhabi in particular, is highly in-demand by local and foreign investors. The government offers a great number of incentives, including 10-year Golden Visas, other visa types for foreign nationals, business and start-up opportunities, and much more benefits.

The CEO of Nine Yards claimed that the country holds leading positions in world rankings as a safe destination for investing, living and doing business. He expects the Emirates to experience a steady growth in the real estate market during 2023.

Ahmed Selet recommends investing in real estate, as its price only increases from year to year. Buyers can also resell the property once it is handed over as its value will no doubt increase.