The real estate market in Abu Dhabi is confidently considered one of the most promising in the UAE. Before April 2019, expats couldn’t own a property in the capital.
However, the government amended the law, approving a list of freehold areas where foreigners could become fully-fledged owners. This decision spurred investment, positioning Abu Dhabi as a strong competitor to Dubai, and the market in the capital still holds immense potential for growth to this day.
Market Highlights
According to the annual Market Watch report by Property Finder, in 2023, over 14,000 real estate transactions were concluded in Abu Dhabi, totalling a huge AED 44 Вillion (USD 11.98B). Of these, over 10,000 were off-plan projects with a combined value of AED 35.6 Billion (USD 9.7B).
Compared to 2022, off-plan real estate transactions in 2023 increased by over a whopping 95%, with their value rising by 174%.
In 2024, the high demand for off-plan properties in Abu Dhabi is expected to continue due to the increasing popularity of the emirate for both residential and business purposes.
According to Property Finder, the number of off-plan real estate transactions in 2021 amounted to 2,734, in 2022, it reached 5,095, and in 2023 hit 10,000. At the same time, the number of new projects being built is also on the rise. Given this trend, we can safely predict that the number of transactions in 2024 will reach new records.
The Most Popular Developments
Among the locations experiencing high demand in Abu Dhabi are
In these areas, there is increased interest in premium and luxury villas, which have risen in price significantly. Market Watch’s full annual report for 2023 highlights that Saadiyat Island has become one of the most sought-after areas in Abu Dhabi, with an increase in value of about 38%. Prices for studios and apartments in the middle price segment are also growing, although not as significantly.
There are numerous options for under-construction real estate in Abu Dhabi, but several popular projects stand out because they are expected to be appreciated significantly by the time of their completion.
1. Ohana By The Sea
Located on the beautiful Sahel Al Emarat coast in the almost untouched Ghantoot area, bordering Abu Dhabi and Dubai, Ohana By The Sea boasts spacious, luxurious villas.
Its exclusive interiors, privacy, and lush greenery are captivating at first sight and make this destination a true slice of heaven. Every detail, from the finishes and contrasting colour palette to the designer furniture and high-quality materials, is meticulously crafted, ensuring you a smooth moving process.
With its prime location on the border between the emirates, as a resident here, you will have quick access to both Dubai and Abu Dhabi.
Average Prices
The starting price for a four-bedroom villa with a swimming pool and a lush garden is AED 6.3M (USD 1.7M).
Developer
Ohana Development company
Completion Date
Its completion is expected in Q4 2024.
2. Ramhan Island
Ramhan Island is a paradise island retreat adorned with beautiful coves and mangrove trees, offering a truly luxurious lifestyle.
Its sandy beaches, 120-berth yacht marina, private ambience, multiple bays, and pristine nature are the project’s main attractions, making it a perfect escape.
Besides, the entire Ramhan Island, valued at AED 3.5B (USD 953M), comprises four communities with premium villas and serviced apartments with direct access to the beach.
Average Price
The starting price for a three-bedroom villa is AED 6.4M (USD 1.74M).
Developer
Completion Date
The project is expected to be completed in 2026.
3. Sama Yas
Constructed by leading Abu Dhabi developer Aldar Properties, Sama Yas features three 9-storey buildings offering residents a luxurious lifestyle amidst beautiful nature. It is the first project with its own extensive park adorned with palm trees, rare trees, lots of beautiful shrubbery, and flowers.
The complex includes premium apartments and duplexes with finishes including top-of-the-range marble, natural wood and stone.
In addition, on the ground floor, there are retail spaces, a spa centre, and restaurants, levelling up your residential experience.
Average Prices
The starting price for one-bedroom apartments is AED 1.9M (USD 517M).
Developer
Aldar Properties
Completion Date
Construction of the project is expected to conclude in 2027.
4. Saadiyat Lagoons
Situated on the beautiful Saadiyat Island, which is one of the most popular islands of Abu Dhabi, Saadiyat Lagoons by Aldar Properties will be constructed near the renowned Louvre Abu Dhabi. This iconic project features designer villas surrounded by gorgeous mangroves, wildlife, and sandy beaches.
The community has its own internal infrastructure, including a cosy park, a blue lagoon with a sandy beach, swimming pools, cycling tracks, and fitness facilities, making it a self-sustained “city within a city.”
Average Prices
The starting price of villas is AED 6.1M (USD 1.66M)
Developer
Aldar Properties
Completion Date
The project is set for completion in 2026.
5. Sea La Vie
Developed by boutique developer Nine Yards, Sea La Vie comprises four towers along the waterfront of Yas Bay, directly on the shores of the Arabian Gulf.
It features apartments, penthouses, duplexes, and townhouses with marine-inspired interiors, wooden wall finishes, exclusive furniture, and textiles tailored for luxury resort living.
Average Prices
The starting price for one-bedroom apartments is AED 1.25M (USD 340K)
Developer
Nine Yards
Completion Date
Construction is scheduled to finish in early 2026.
Other Popular Projects
Some other residential projects located on the main entertainment hub of Abu Dhabi — Yas Island, are also very popular among investors.
Yas Island is extremely popular with tourists, expatriates, UAE citizens, freelancers, business professionals, and many others, so it has great investment potential.
Residential projects such as Gardenia Bay and Mayyas cannot be overlooked in this case. They are both considered to be in the mid-price range but would definitely not look out of place in the premium sector of the market.
1. Gardenia Bay
Gardenia Bay is being developed by the renowned developer Aldar Properties. Residents of this upcoming project will live among sandy beaches, blue lagoons, and lush greenery.
Besides, it’s also home to a beach club, a pet park, coworking spaces, meeting rooms, and a private cinema, providing you with top facilities and services.
Nearby is Yas Gateway Park, where you can take a leisurely stroll in the evenings.
Average Prices
The starting price for a studio here is AED 805K (USD 219K).
Completion Date
The project is expected to be completed in mid-2027.
2. Mayyas at The Bay
Mayyas at The Bay by Advanced Properties is a residential project located on the picturesque waterfront of Yas Bay, just a few minutes on foot from the Yas Bay Waterfront.
This complex offers apartments, penthouses, duplexes and townhouses, with luxurious interiors reflecting a prestigious lifestyle styled in ‘old money’ fashion.
This project offers you numerous amenities at very competitive prices for the units starting from one-bedroom apartments.
Average Prices
The cost of a 1-bedroom apartment is AED 880K (USD 240K).
Completion Date
Construction will be completed in early 2026.
FAQ
Is Off-plan Real Estate Profitable for Investment?
The cost of off-plan real estate is lower compared to ready properties by at least 10-30%, but its prices, as well as demand, are constantly rising. For example, in 2023, the number of off-plan real estate transactions increased by more than 90% compared to 2022, with values increasing by 174%. Considering these facts, purchasing under-construction real estate in Abu Dhabi is a profitable investment.
It is also important to note that the under-construction real estate market in Abu Dhabi is diverse, creating even more opportunities for investors with different capital. The real estate in Al Reef, Yas Island, Al Maryah, Al Reem Island, Saadiyat Island, Masdar City, Khalifa City, Al Raha Beach is in high demand. The most popular and promising projects in these areas include Ohana By The Sea, Ramhan Island, Sama Yas, Saadiyat Lagoons, Sea La Vie, and many others.
Evgeny Ratskevich, CEO of Metropolitan Capital Real Estate LLC and Partner at Metropolitan Group.
