The Yas Island development was initially launched in 2006 by Aldar Properties, aiming to establish an entertainment destination that is a 30-minute drive from the UAE capital. The overall scheme is based around the F1 track hosted by Yas Marina Circuit, which was under contract from Aldar and completed in 2009.
The location of various Aldar projects, such as Ansam and West Yas, allows tenants to enjoy the proximity to varying leisure amenities on Yas Island, including Yas Circuit, Yas Waterworld and Ferrari World Abu Dhabi.
According to Property Monitor’s supply tracker, a total of 1,564 units are to be completed on Yas Island by end 2017 and 5,060 units by the end of 2022. Yas Island is an attractive site for investors due to its stance as Abu Dhabi’s predominant entertainment centre as well as its competitive pricing.
In September, a one-bedroom apartment at the Yas Island sub-community Mayan was selling at an average of Dh1,389 square foot and a two-bedroom apartment at Dh1,386.
Ansam was the first phase of the community launched in 2015 by Aldar and is nearing completion this quarter. This community includes four buildings with a total of 547 low-rise and medium density apartments, located on the west side of Yas Island. Ansam has an excellent range of leisure facilities and retail outlets, and is strategically located near Yas Links Golf Course, thus granting tenants a magnificent view.
According to Property Monitor’s Index, Ansam witnessed a 0.13 per cent decrease in residential sales price in August. And in September, Ansam’s one-bedroom apartment was sold at Dh1.41 million and a two-bedroom unit at Dh1.82 million.
West Yas, a sub community of Yas Island, is exceptionally positioned with a waterfront location, with 1,017 villas expected for completion by the year-end. This community is known to be attractive for family living with a relaxed environment, two retail centres, a community centre and a variety of schools in proximity.
In September, the sales price for a four-bedroom villa was Dh4.08 million. In addition, West Yas requires a down payment of only 15 per cent, followed by a 5 per cent payment in December and a 5 per cent payment in March. The remaining 75 per cent is linked to the handover of the project, which highly contributes to attracting first-time buyers.
The writer is a Partner at Cavendish Maxwell.
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