In a landmark transaction, a Saadiyat Island five-bedroom villa was recently sold for a record-breaking Dh 130 million ($35.39 million), claiming the title of the most expensive residential property sale in Abu Dhabi Community, as confirmed by the managing broker.
A resident of the UAE secured the villa last month, surpassing the previous highest sale of Dh98 million at the Ohana by The Sea locality. This was disclosed by Dubai Sotheby’s International Realty, who facilitated the sale alongside Kenzie, to The National on Wednesday.
The villa underwent extensive upgrades before the acquisition, including premium marble detailing and an enhanced art collection, although the details of the seller remain confidential. This sale highlights the strengthening market conditions within Abu Dhabi’s high-end property sector, a point confirmed by the Abu Dhabi Real Estate Center, although verification of this being the highest price in the emirate is pending.
“The capital is swiftly establishing itself as a prime destination, and this unprecedented sale further demonstrates the vast potential within Abu Dhabi’s luxury property market,” remarked George Azar, the chairman and CEO of Dubai Sotheby’s International Realty.
The surge in luxury property interest is supported by the city’s continuous cultural and architectural evolution, combined with a stable economic backdrop, according to Azar.
Strong growth in Abu Dhabi Real Estate Market , encouraged by new government policies aimed at attracting retirees and remote workers, along with a strong non-oil sector, has helped to facilitate 12,439 property deals worth Dh36.2 billion concluded during the first half of this year. This covers property sales of Dh23.7 billion and Dh12.5 billion from mortgages, according to a statement from the Abu Dhabi Real Estate Centre.
During the same period, international investors from 75 countries, including the US, the UK, China, Russia, and Kazakhstan, have poured Dh3.28 billion into Abu Dhabi’s market.
Knight Frank’s May report anticipates that global high-net-worth individuals will invest around $408 million in Abu Dhabi Projects this year, with budgets averaging $3.4 million for global HNWIs and $900,000 for GCC residents.
As one of UAE’s top tourist and residential hotspots, Saadiyat Island is increasingly sought after, noted Olga Balashova, a senior consultant at Dubai Sotheby’s International Realty.
Responding to the high demand, Aldar Properties , Abu Dhabi’s foremost developer, has announced upcoming residential projects on Saadiyat Island, including The Arthouse community with 281 apartments and sky villas, and the Nouran Living development in the Saadiyat Island Marina District, which launched in March featuring a mix of studio and multi-bedroom units.
