- Broker Directory
- My Tools
- News & Advice
- Market Trends
- Other GN Sites
• Dubai has traditionally had a much wider range of prime and high-end buildings than Abu Dhabi. The most popular of these properties are typically located in newer residential centres such as the Palm Jumeirah, Downtown Dubai and Dubai Marina.
• New supply to the prime segment is expected for completion early this year, with key projects in the Culture Village master plan such as Palazzo Versace and D1 Tower due to be handed over to the market. D1 Tower is currently transacting at rates beyond Dh2,100 per square foot.
• Hyatt Regency Creek Heights, a new project by Wasl Asset Management Group, was launched in November. It is complete and comprises furnished premium apartments overlooking the Dubai Creek. These are the first freehold residences in Bur Dubai and the Healthcare City area.
*The Address Downtown and Dubai Marina offer fully furnished and serviced apartments.
All the other prices and rental rates are for non-furnished units. ** Sales prices are based on transaction rates.
• With limited stock, the prime and high-end apartment segments continue to command high levels of occupancy and premium rents, which have been on the rise since the third quarter of last year.
• Recent addition in this segment includes the Shaikh Mohammad Bin Rashid Tower, part of the Abu Dhabi Trade Centre and the tallest in the emirate with 92 storeys and 474 apartments. Launched during the fourth quarter, more than 50 per cent of the units have been leased.
• Similarly, capital values for prime and high-end apartment property have been on the rise since the third quarter.
• Based on Asteco’s internal grading system, only a few qualify as prime developments in Abu Dhabi, while a high percentage of the stock are high-end, which have some, but not all, of the features required to be considered as prime.
Source: Property Weekly