TDIC presented its residential real estate offerings available for sale on Saadiyat island, including a preview of the apartments for purchase in Mamsha Al Saadiyat, the first development of its kind in the Saadiyat Cultural District, and home to the single largest collection of acclaimed cultural assets in one setting: Zayed National Museum, Louvre Abu Dhabi, Guggenheim Abu Dhabi and Manarat Al Saadiyat.
The Abu Dhabi Urban Planning Council (UPC) revealed that a number of mosques, parks, playgrounds and sports facilities will be developed across Abu Dhabi as part of their initiative for the Year of Giving, while Wahat Al Zaweya Company for Investment and Real Estate Development launched 400 pieces of land for UAE nationals.
Aldar launched their latest mid-market project on Reem Island – The Bridges, a 1,272 unit, AED1.3billion development which offers high quality amenities and a prominent location close to Abu Dhabi’s main business and cultural districts, with prices starting from AED450,000.
Bloom Properties announced the commencement of the main works at Faya, the fourth phase of its master planned community in the UAE capital’s Bloom Gardens.
A new feature on the show floor, Cityscape Talks became a hub of activity as visitors took advantage of the free to attend presentations designed to help them make informed investments at the event.
Lynnette Abad, Partner at Property Monitor, will be one of the experts to address the crowds during the Talks today (19 April).
Abad said: “While the rate of decline in Abu Dhabi residential prices has slowed in comparison to the last year, the market is expected to remain under pressure from the fallout of redundancies and oil price movement.
“That said, communities with established infrastructure, amenities and locational advantages have fared better and these factors are expected to drive demand in future as well. Also, an interesting shift in neighbouring Dubai market this year is the entry of residential options at lower price points, for instance villas for as low as AED 1.8 million, and such offerings targeting first time buyers could stimulate activity from a wider set of buyers within the Abu Dhabi market.”
Reinforcing the sustained investor confidence in the local market, a number of major UAE developers have a commanding presence at Cityscape Abu Dhabi this year, including Aabar Investments, Azizi Developments, Eagle Hills, Hydra Properties, Mubadala and Tamouh Investments.