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Earlier this year, a building in Saadiyat Beach Residences, comprising 70 apartments was sold out in one day. Scenes like this underline the rising demand for investment-grade property in Abu Dhabi and the growing importance of investment zones such as Saadiyat island in the capital's property market.
"The Tourism Development and Investment Company [TDIC] is always seeking to develop new projects that will not only enhance its current portfolio but will also sustain Abu Dhabi's appeal as a leading residential, hospitality, leisure and tourist destination." says Ahmed AI Fahim, Executive Director of Marketing, Communications, Sales and Leasing at TDIC.
Currently, there are three residential communities on Saadiyat island – Saadiyat Beach Villas, Saadiyat Beach Residences and The Residences at the St Regis Saadiyat Island Resort, all of which are located in the Beach District.
Inspired by Arabian, Contemporary and Mediterranean an design styles, the Saadiyat Beach Villas offer units varying from 3,950-14,994 sqft and ranging from three to six bedrooms. Comprising 354 high end villas, the first two phases of Saadiyat Beach Vilas are already sold out.
At last year's Cityscape Abu Dhabi, TDIC launched phase three of the Saadiyat Beach Villas with a total of 77villas.
The Saadiyat Beach Residences features one to four-bedroom apartments in Arabesque and Mediterranean styles and set across six low-rise buildings. The residential community has a community pool, gym and barbecue facilities and has direct access to the beach. Today, all 495 units are fully occupied.
Featuring a collection of 32 exclusive villas, 259 apartments and five penthouses, The Residences at The St Regis Saadiyat Island Resort is likewise a fully occupied residential community.
All units within the Saadiyat Beach Residences, The Residences at the St Regis Saadiyat Island Resort and the Saadiyat Beach villas Phase 1 and 2 have been handed over," says AI Fahim. 'The sold-out third phase of the Saadiyat Beach Villas, which consists of 77 units, will be completed and handed over in the third quarter next year.
Saadiyat is currently home to a range of luxurious residential, hospitality and retail developments along its Saadiyat Beach stretch, which is emerging as a new luxury destination in the capital. There is also the Saadiyat Public Beach, a 400m stretch of white-sand beach, while the Monte Carlo Beach Club is the first beach club on Saadiyat and the first Monte-Carlo establishment outside Monaco.
Golf lovers can go to the Saadiyat Beach Golf Club, an 18-hole championship course designed by Gary Player. Also on the island is Manarat AI Saadiyat, a purpose- built 15,400-sq-m venue for arts events and exhibitions, including the popular Abu Dhabi Art boutique fair. Furthermore, residents are just minutes away from the island's five-star hotels such as the St Regis Saadiyat Island Resort arid the Park Hyatt Abu Dhabi.
Within the Saadiyat Beach Villas community, a number of amenities are also expected to come online by September. These include a purpose-built nursery, which Will be operated by Kids First Group, an internationally recognised academic operator and a retail centre featuring a grocery store, a pharmacy, a salon and a coffee shop.
Click on Saadiyat which is currently home to a range of luxurious residential, hospitality and retail developments
Source: Chiranti Sengupta, Features Writer, Property Weekly