Dubai: In Abu Dhabi, plot sales are proving a hit with developers and investors. Developer of the Jubail Island project has just sold out all 194 villa plots earmarked for the first phase. These plots will be handed over to the buyers in the fourth quarter of 2022.
Investors seem to have noted that the infrastructure works are already at an advanced stage on the Dh5 billion development located between the Yas and Saadiyat islands. The developer says 65 per cent of the infrastructure is ready and all of it would be completed in the second quarter of next year.
This week, Abu Dhabi master-developer Aldar launched the second phase of the ‘Al Gurm’ development, a waterfront community on the southwest of Abu Dhabi island. A set of 71 plots were sold at the project, which will be set in the style of an archipelago over 105,000 square metres. Each plot, of 900 to 4,400 square metres, will have access to the beach. (These are available only for UAE nationals.)
Response to these plot sales should show further evidence of Abu Dhabi property market’s upward mobility, which has been in evidence since late last year. Villa sales by Aldar were met with instant sellouts.
The Jubail Island developer is expecting all of that to rub off on its own plot sales. Mounir Haidar, Managing Director of Jubail Island Investment Company, said: “Higher than expected sales demand in the market, a well throughout design and range of options for investors and homeowner to choose from plots, villas and townhouses, quality of the low-density masterplan and convenient access to amenities that has gone in to making Jubail Island such a special and desirable community in the heart of our capital.”