An Open House at Fairmont Marina Residences
An Open House in Radiant Square, Al Reem Island
As of Q2 2023, about 1,400 apartments appeared on the Abu Dhabi property market. By the end of the year, 2,200 apartments and 850 villas are expected to be handed over in the emirate.
The new projects are distributed among recognized investment zones, most of which are located on Al Reem Island and Saadiyat Island.
A portion of Abu Dhabi’s new complexes is still at the planning and design stage. The official announcement of these projects is expected at the end of 2023 and the beginning of 2024.
As for rental prices, the cost of apartments and villas has increased by 2–5%, according to data for Q2 2023.
Luxurious villas on Yas Island and Saadiyat Island remain the most in-demand. Their rental value increased by 10% compared to the same period last year.
Property in the middle and budget segment remained relatively stable when the nominal rental rate changed.
High demand was observed for offices, especially of classes A and B+. Such properties are in high demand among companies that are expanding their presence in the Abu Dhabi market, and those who are just entering it.
In the second quarter, large volumes of transactions on completed and under construction projects were recorded. A significant part of them is accounted for by end users.
The sale cost of ready-made apartment complexes in the emirate increased by an average of 1% per year, and villas — by 2% per quarter.
In neighbourhoods with luxury villas, the price continues to rise and reaches 6% in some projects.
Prices per sq. ft for complexes under construction on Saadiyat Island and Yas Island range from AED 1.5K (USD 408) to AED 3K (USD 817).
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