Abu Dhabi, UAE – Aldar Properties, the emirate’s largest developer, has recorded sales of more than Dh1.4 billion ($381 million) for residential units at its latest Yas Island project, driven by strong demand from buyers.
The Yas Riva development, comprising 151 canal-front villas with prices starting from Dh8.3 million, sold out within just 24 hours of its launch, Aldar confirmed in a statement to the Abu Dhabi Securities Exchange on Monday, where its shares are traded.
UAE citizens accounted for 52% of total sales, while residents and international buyers made up 48%, highlighting Abu Dhabi’s increasing appeal to both local and global investors. Notably, up to 60% of buyers are under the age of 45, signaling strong interest among younger property investors.
Abu Dhabi’s Booming Property Market
The emirate’s real estate sector has witnessed robust activity in the first half of the year, with Dh23.7 billion in total sales and purchase deals, including Dh12.5 billion in mortgage transactions, according to the Abu Dhabi Real Estate Centre (Adrec).
Individual investors from 75 countries, including the US, UK, China, Russia, and Kazakhstan, purchased properties worth Dh3.28 billion during the period.
“Abu Dhabi is a very promising property market,” Rashed Al Omaira, acting director-general of Adrec, told The National. “There’s a lot of demand. Year-on-year growth for foreign direct investment has recently exceeded 200%.”
Residential property prices and rental rates have also been rising. In the second quarter, average apartment prices increased 6.2% year-on-year, while average villa prices grew by 3.9%, according to CBRE. Apartment rental prices rose 6.6%, and average villa rents increased 2.5% over the same period.
Aldar’s Continued Growth
In July, Aldar reported total UAE sales of Dh6.8 billion in the second quarter, marking a 7% annual increase due to strong demand for both new and existing developments in Abu Dhabi, Dubai, and Ras Al Khaimah.
The company is planning further project launches to meet demand, including a luxury beachfront development on Al Fahid Island in Abu Dhabi and a new master development in Dubai. Around 1,800 new residential units are expected to hit the market by the first quarter of next year across Yas Island, Saadiyat Island, and Al Reem Island, according to Mr. Al Omaira.
Monitoring Supply to Maintain Market Balance
Mr. Al Omaira emphasized that authorities closely monitor supply levels relative to population growth and the rollout of new and previously approved projects. This ensures occupancy rates remain healthy throughout the real estate cycle.
“When required, we can manage supply to mitigate risks of oversupply. But at present, the market remains very optimistic,” he added.
Abu Dhabi’s property sector continues to attract local and international buyers, with strong sales and rising prices reflecting the emirate’s growing economic diversification and global investment appeal.
This article was originally published on The National.
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