The launch of a new gated villa community on the edge of Saadiyat Beach Golf Club in Abu Dhabi is targeting a shortage of modern villas in the capital.
Tourism Development & Investment Company (TDIC) said that Jawaher Saadiyat will feature 83 properties, with four-bedroom townhouses and four, five and six-bedroom villas with floor-to-ceiling windows.
“The launch of Jawaher Saadiyat comes following an in-depth research which showed that the market still lacks this category of four and five-bedroom villas and townhouses,” said Ali Yousif Al Hammadi, chief executive at TDIC.
A statement from TDIC said that the villas’ flat roofs can be used as private lounges, while each villa will come with two to four shaded parking spaces. The overall built-up space will be between 4,628 sq ft to 13,648 sq ft.
The five and six-bedroom villas will feature an independent majlis with its own pantry, toilets, office and guestroom, in addition to a dedicated driver’s and cook’s room.
The properties will be showcased at Cityscape Abu Dhabi, which runs from Tuesday until Thursday at the Abu Dhabi National Exhibition Centre.
Saadiyat Island has been divided into six separate neighbourhoods. The Saadiyat Beach district is currently the most advanced with the majority of the island’s properties.
TDIC said last month that construction of the third phase of Saadiyat Beach Villas is on track for completion in June.
The third phase consists of 77 four and five-bedroom villas, taking the total in the community to 428.
Saadiyat Development and Investment Company (SDIC) also said last month that its luxury beachside villas at Hidd Al Saadiyat were 40 per cent complete.
The project is built on nearly 1.5 million square metres of natural waterfront land on the north-east part of Saadiyat Island, and will be home to 4,000 people with 453 villas and 15 low-rise apartment buildings when complete. The villas, dubbed “beach palaces” by the developer, are priced from Dh7 million to around Dh40m.
SDIC said that 78 per cent of the infrastructure has been completed, while the project is scheduled for completion at the end of 2016.
The first phase of Mamsha Al Saadiyat, a 1.4 kilometre beachfront mixed-use development with apartments and townhouses, had sold out according to TDIC last year.
Prime house prices in Abu Dhabi rose by 14.7 per cent last year, according to a report from Knight Frank.
However, the market slowed in the final quarter, with property broker JLL reporting that prices were unchanged during the final three months for the first time in two years, as strict mortgage caps and tumbling global oil prices prompted investors to stay away.
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