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According to a report by Asteco (a consulting firm), 5,100 apartments were commissioned in the first half and 1,000, in the third quarter of 2022, primarily in Al Raha Beach, on Al Reem Island, and on Saadiyat Island. The real estate firm JLL reports that commissioning of 2,350 more apartments and 100 villas is expected in the remaining months of the current year, which will increase the total stock to 278,000 units.
In the third quarter, several noteworthy projects were launched, including Ain Al Maha Village on Jubail Island. This community will consist of approximately 240 villas. Yas Park Gate is a residential project that will have about 500 residences when completed.
Several more significant projects have been announced this year. For instance, Aldar started working on Saadiyat Lagoons last week. Its design is inspired by the concept of water and natural motifs. The residential community will be located in one of Abu Dhabi’s most popular and attractive communities, Saadiyat Island. The first phase of construction will include 207 villas available exclusively to UAE nationals. The prices start at AED 6.1 million (USD 1.7 million).
Aldar also began construction in Grove District, a residential project on Saadiyat Island, and launched The Louvre Residences early this year. The latter will be a complex comprised of five buildings with 612 residences located near the Zayed National Museum, Louvre Abu Dhabi, and Guggenheim Abu Dhabi (a contemporary art museum).
Bloom Holding began the second phase of Bloom Living. Upon completion of this project, 4,000 more residences will be available in the housing market.
Reem Hills, a residential project on Al Reem Island, will soon feature an 1.8 million m2 gated community worth AED 8 billion (USD 2.17 billion). The opulent residences will be built on an artificial hill, which will be the first time for Abu Dhabi.
