Abu Dhabi is in focus once again with Cityscape Abu Dhabi, one of the biggest real estate events in the region, just around the corner. Unlike Dubai, it's still early days for Abu Dhabi's real estate sector with a number of projects yet to be handed over.
However, the developments that have already been delivered such as Al Bandar on Al Raha Beach have so far received good response from buyers and tenants, according to the capital's real estate agents. So, what does the Abu Dhabi market have in store for prospective buyers and tenants? What are the current rents and sales prices in the capital?
Property spoke to Andrew Covill, head of investment sales and Andrea Menown, leasing manager at LLJ Property, Abu Dhabi who gave us a lowdown on the capital's existing and upcoming top residential developments.
Golf Gardens
Good for: It is a good option for those who seek luxury or are looking for privacy in a gated community.
Overview: Comprising 391 luxurious villas and town houses, Golf Gardens is located adjacent to the Abu Dhabi Golf Club, a 15-minute drive from downtown Abu Dhabi, 45 minutes from Dubai and is in the heart of the new districts being developed just inland from Al Raha Beach. The accommodation mix comprises three- and four-bedroom town houses and four- to six-bedroom villas with private pools, a select few of which overlook the fairways of the golf course. Freehold title is offered to nationals only.
Status: Complete
Facilities: The clubhouse, located at the centre of Golf Gardens, has a pool, gym, multi-purpose court for tennis or basketball, coffee shop and a convenience store. There is also a large community mosque and landscaped gardens.
Local area: The area features international schools, Al Raha Mall, Etihad Plaza, Abu Dhabi Golf Club and Yas Links Golf Club. All the restaurants and facilities on Yas Island and recently opened Ferrari World are less than ten minutes away through the new road link tunnel.
Average rents: Three-bedroom town house properties currently start from Dh250,000 per annum and go up to Dh550,000 for six-bedroom golf course facing villas with private pools.
Sales prices: Three- and four-bedroom town houses cost Dh2.9 million and Dh3.1 million respectively, while four-, five- and six-bedroom villas cost about Dh3.95 million, Dh4.5 million and Dh6.5 million respectively.
Highlights: It offers residents the benefit of being next door to the golf club, with a rapidly growing range of services in the area while retaining the privacy and exclusiveness of a relatively small gated community.
Al Raha Gardens
Good for: This is a community that is suitable for families and especially perfect for those who prefer to live in a gated community.
Overview: Located just off the Abu Dhabi-Dubai highway and opposite Al Raha Beach, Al Raha Gardens is spread over 665,000 square metres of heavily landscaped areas. The community incorporates three- to five-bedroom villas and town houses with landscaped gardens and water features, some with private pools. Freehold title to UAE nationals only.
Status: Mostly completed with a new phase now for sale with completion in June 2012.
Facilities: Between every few blocks of homes are small landscaped parks and gardens. A retail centre is due to open this month at the heart of the community with a range of quality shops, cafés, restaurants and a gym.
Local area: The locality offers international schools from kindergarten to senior level, two of which adjoin Al Raha Gardens, shopping at Al Raha Mall, Etihad Plaza and Al Bandar and a round of golf at Abu Dhabi Golf Club and Yas Links. The Ferrari World is less than ten minutes away through the new road link tunnel.
Average rents: Three-bedroom properties currently start from around Dh175,000 up to Dh350,000 for five-bedroom property with private pool.
Sales prices: Three-bedroom town houses start from Dh2 million, while four-bedroom units cost Dh2.2 million. For villas, the prices start from Dh2.6 million for a four-bedroom and Dh3.2 million for a five-bedroom.
Highlights: It is located in close proximity to the fashionable Yas Island development. Easy access to Saadiyat Island and Dubai make for a very accessible and sociable lifestyle.
Sun and Sky Towers, Shams, Al Reem Island
Good for: Do you enjoy high-rise living? Then Sun and Sky Towers could be just what you need. It is also suitable for those looking to live close to their offices.
Overview: Sky Tower, freehold to all nationalities, is the tallest building on Al Reem Island at 300m (984 feet) and 74 storeys. It has 37 floors of commercial space and 32 residential floors, comprising 474 one- to six-bedroom apartments. Sun Tower is fully residential within its 65 storeys. These feature one- to three-bedroom apartments and penthouses. Many units offer panoramic island and sea views.
Status: Sun and Sky Towers was completed recently, and is in the process of handover. It forms the first phase of the Gate Towers development of which the second phase is under construction.
Facilities: The rooftop of the connecting podium is home to comprehensive leisure facilities, including a 50m lap pool, 70m infinity pool, three tennis courts, two squash courts, and a yoga lawn.
Local area: The area will be served by the Boutik mall housed within the podium between the two towers. The mall extends to 13,400 square metres of retail space, including the flagship supermarket Waitrose as well as a full range of 70 retail, café and restaurant outlets.
Average rents: One-bedroom apartment from Dh85,000 per annum, two-bedroom from Dh130,000 and three-bedroom from Dh180,000.
Sales prices: One-bedroom apartment from Dh1.15 million, two-bedroom from Dh1.79 million and three-bedroom from Dh2.29 million and penthouses from Dh9.99 million.
Highlights: A newly built road network on Al Reem Island will give easy access in all directions, to Marina Square, Sowwah Island, Abu Dhabi Island. Close by is the Paris-Sorbonne University Abu Dhabi.
Al Reef area
Good for: For those who seek affordable family living, this is a great option. It offers easy access to the airport, so it's good for frequent travellers as well.
Overview: It features two- to five-bedroom villas in four themes; Arabian, Desert, Mediterranean and Contemporary. It also has one- to three-bedroom apartments in the new Downtown district. In the project, 99-year leasehold title is offered to all nationalities.
Status: Arabian and Desert phases have already been completed while the whole project is expected to be finished by the end of 2011.
Facilities: Within each community, there is a leisure facility with pool and gym set within landscaped gardens as well as other small parks. The Downtown district will feature many retail outlets, child care facilities and a hotel.
Local area: Al Reef will also benefit from Plan Abu Dhabi 2030. The area is expected to attract huge investment because of the airport expansion and development of the Capital District. With a newly opened highway linking Al Reef to the Yas Island interchange on the Abu Dhabi-Dubai highway, access to the new hotels, golf courses and facilities on Yas and Saadiyat islands as well as Downtown Abu Dhabi has improved. The new retail centres in and around Al Raha are only a little over five minutes away.
Average rents: Two- to five-bedroom villas range from Dh85,000 to Dh170,000.
Sales prices: Two-bedroom villas from Dh950,000, three-bedroom from Dh1.25 million, four-bedroom from Dh1.65 million and five-bedroom from Dh1.95 million. One-bedroom apartments from Dh729,000, two-bedroom from Dh868,000 and three-bedroom from Dh1.1 million.
Highlights: Al Reef area is an amazing self-contained development with a friendly, neighbourly community.
Khalifa City A and B, Mohammad Bin Zayed City (MBZ) and Mussafah Areas
Good for: This locality is a favourite destination for families, pet lovers and those that value space and independence.
Overview: This area is predominantly made up of large, privately owned properties. The villas here are often on large plots with gardens, private entrances and spacious, traditional interior layouts. Freehold units are available to UAE nationals, while expatriates are able to rent the units.
Status: Complete with ongoing new small developments and individual villas.
Facilities: Some units are part of a cluster of villas with a community pool and small gym facility. These landscaped communities may also have a grassy area for families.
Local area: Khalifa City A and Khalifa City B are considered good for families, primarily because of the presence of international schools. Also, the Al Raha Beach development is located in close proximity to the area giving residents access to a number of facilities there. The Mohammad Bin Zayed City and Mussafah area are constantly expanding. Also, the new shopping malls such as Mazyad and Delma Mall, including hypermarkets, homeware stores and cafés, enhance the charm of the area to a great extent.
Average rents: Properties are generally four-bedroom and above, and rents start from Dh180,000 per annum.
Sales prices: Prices vary greatly dependent on size and specification of buildings.
Highlights: The area offers an alternative to the hustle and bustle of city living. Located not so far away from Abu Dhabi city, yet very calm and quiet, this locality offers good value homes with gardens and easy parking.
Marina Square, Al Reem Island
Good for: Singles and couples will enjoy the convenience of being ‘downtown' that this development offers along with the benefits of living in new, modern waterfront properties.
Overview: Featuring studios and one- to four-bedroom apartments and penthouses, this freehold development, located at the entrance of Al Reem Island, comprises 17 towers which offer 3,500 residential units on a built-up area of more than 978,000 square metres. The buildings offer views of the marina and the city.
Status: Many of the towers are close to completion with handover scheduled for the second quarter of 2011.
Facilities: The project offers gym and pool facilities set within landscaped gardens, allocated car parking spaces and building concierge.
Local area: Placed above and around a large shopping mall with cinemas, food courts and a wide array of retail shops, the towers also feature an entertainment plaza with plenty of food and beverage outlets opening on to the marina.
Average rents: Rents will be confirmed on handover.
Sales price: Studios start from Dh630,000, one-bedroom from Dh985,000, two-bedroom from Dh1.32 million, three-bedroom from Dh2.18 million, and up to Dh15 million for a five-bedroom penthouse.
Highlights: Access to this new development has been augmented recently with the launch of two new dedicated bridges from Abu Dhabi island and with easy connections out via the Salam Street tunnel. It is located close to Sowwah Island which is home to the new Abu Dhabi Securities Exchange, Cleveland Clinic and Sowwah Square with office buildings housing several multinational corporations.
Al Raha Beach
Good for: Those seeking a waterfront lifestyle in a vibrant and social environment will certainly enjoy life on this development.
Overview: This freehold development stretches along 11km of coastline, off the main highway leading from Abu Dhabi to Dubai and adjacent to Khalifa City and Abu Dhabi International Airport. The 11 precincts will be shaped by inlets and canals criss-crossed by bridges.
Status: The first phase, Al Bandar, has just been completed. The next two phases, Al Muneera and Al Zeina are under construction and due for completion in phases throughout 2011.
Facilities: Al Bandar boasts a yacht marina, long waterside balconies and terraces, leisure facilities, including swimming and spa pools, tennis, squash, yoga; landscaped gardens, restaurants, cafés, Spinneys supermarket and other retail outlets are set around a piazza next to the marina. Al Zeina and Al Muneera will also have a wide range of retail and leisure facilities and private beaches.
Local Area: With Etihad Plaza, Al Raha Mall and the forthcoming centre at Al Raha Gardens located close by, residents are spoilt for choice.
Average rents: Rentals range from Dh80,000 for studios and up to Dh260,000 for three-bedroom apartments with balconies and terraces.
Sales prices: Studios from Dh875,000, one-bedroom from Dh1.01 million, two-bedroom from Dh1.68 million, three-bedroom from 2.19 million and four-bedroom from Dh3.59 million. Four-bedroom town house from Dh4.23 million. Prices vary across and within different precincts.
Highlights: It is located in close proximity to Abu Dhabi International Airport. Access to the community is boosted by dedicated interchanges off the Abu Dhabi-Dubai highway.
Saadiyat Island
Good for: Residents are offered a complete lifestyle on an island that features everything from championship golf courses, museums and performing arts venues, marinas, beaches with luxury hotels and much more.
Overview and status: The development is currently under construction. While several beachfront hotels are expected to be completed in the latter part of 2011, The Louvre, Guggenheim, Performing Arts Centre and Shaikh Zayed Museum are planned for completion from 2013. The first golf course in the development, the Gary Player Saadiyat Beach, is now operational. The Saadiyat Beach villa community is under construction and due for completion in mid-2011. Construction is also under way on apartment blocks and a beach club. The villas range from three- to eight-bedroom units. Some of these homes are facing the golf course but all will benefit from the surrounding facilities such as hotels.
Facilities: The Saadiyat Beach villa community will have neighbourhood leisure and retail facilities within each defined community area, a beach and social club. Residents will also have easy access to the golf course facilities.
Average rents: Rentals will be determined closer to opening time.
Sales prices: Three- and four-bedroom town houses and villas range between Dh6.5 million to Dh7 million, while five-bedroom units cost between Dh10 million and Dh30 million.
Highlights: Apart from the amenities mentioned above, the development will also offer easy access to downtown Abu Dhabi via the Shaikh Khalifa bridge, Yas Island and to the airport and Dubai via the Saadiyat highway. Access is definitely one of the major attractions of this development in Abu Dhabi.
