UAE: Disneyland Abu Dhabi expected to rise in North Yas, says expert
Ben Crompton, Managing Partner at Crompton Partners, told Khaleej Times that while buyers are not yet paying a premium for a view of the upcoming theme park, demand for Yas Island homes surged immediately after the project was announced in May.
'The Disney theme park will most likely open in North Yas, close to the Fahid Bridge, but it hasn't been confirmed yet. We know it will be on the water and so this area is one of the few beach locations left on the popular island,' he said.
The attraction, expected to open in the mid-2030s, is not yet influencing nightly rates or occupancy levels for short-term lets, such as Airbnb, in the area. Crompton said this market is likely to accelerate as the handover date approaches, with projects like Water's Edge already proving popular among short-term rental operators.
Short-term lets in Abu Dhabi are regulated by the Department of Culture & Tourism, which requires property owners to obtain a licence. 'It is relatively straightforward and there are plenty of professional operators who can assist,' Crompton said.
Currently, Water's Edge, Yas Acres, especially its new Magnolias and Dahlias projects, and Yas Golf Collection are attracting strong off-plan interest. Villas have outperformed apartments in the past year, with Aldar projects delivering the highest gains. 'In the last 12 months most projects on Yas Island saw 20 per cent returns. Villas did better than apartments, and Aldar projects did better than other developers,' he noted.
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