Abu Dhabi's new Fahid Island nets home sales of Dh3.5b in launch week - expats dominate buyer list

Fahid Island developer Aldar has so far released two projects

Last updated:
Manoj Nair, Business Editor
2 MIN READ
Aldar Properties scores big wins with its Fahid Island development. The launch week sales provide enough indication.
Aldar Properties scores big wins with its Fahid Island development. The launch week sales provide enough indication.
Afra Alnofeli/Gulf News

Dubai: Abu Dhabi's newest island destination is a big hit with investors.

Sales of homes at Fahid Island has so far generated Dh3.5 billion plus for Aldar, the developer, during the launch week itself. These were for units at Fahid Beach Residences, where prices start from over Dh3 million, and The Beach House.

Fahid Island has been conceived as Abu Dhabi’s 'first coastal wellness destination' and will also be the 'world’s first Fitwel certified island'.

Investors will also have noticed Aldar's confirmation of the super-premium Kings College School Wimbledon for Fahid Island.

Russian, Chinese buyers too

"Expatriate residents and overseas buyers account for 67% of total sales, with buyers from the UAE, Russia, the UK, and China making up the top nationalities by sales volume," said a statement.

"This strong local and international interest underscores Fahid Island’s emerging global profile as a premier lifestyle destination where wellness meets culture, nature, and community."

Abu Dhabi's property market is red hot in June

It's proving to be a spectacular month for Abu Dhabi's real estate sector. Early this month saw the launch of Fahid Island and this week, the first Bulgari-branded project was launched in the emirate.

Younger buyers too

It's been a stark point in the recent past that new home buyers in Abu Dhabi are skewing younger. At Fahid island, 42% of buyers in the launch week are under 45 years, 'signaling growing demand for luxury wellness-focused living among younger demographics'.

And 67% of buyers are first-time customers of Aldar, again something that the developer has made a point of from its recent sales data.

"The success reflects Abu Dhabi’s position as one of the world’s most desirable investment and lifestyle destinations," said Jonathan Emery, CEO at Aldar Development.

and we are expecting continued interest in Fahid Island as Abu Dhabi’s first wellness island builds its profile on the global stage.”

Manoj Nair
Manoj NairBusiness Editor
Manoj Nair, the Gulf News Business Editor, is an expert on property and gold in the UAE and wider region, and these days he is also keeping an eye on stocks as well. Manoj cares a lot for luxury brands and what make them tick, as well as keep close watch on whatever changes the retail industry goes through, whether on the grand scale or incremental. He’s been with Gulf News for 30 years, having started as a Business Reporter. When not into financial journalism, Manoj prefers to see as much of 1950s-1980s Bollywood movies. He reckons the combo is as exciting as it gets, though many will vehemently disagree.
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