Latest news with #Dh28
Al Etihad
26-05-2025
- Business
- Al Etihad
Abu Dhabi apartment rents saw 10% YoY rise in Q1 2025: Asteco report
26 May 2025 08:15 A. SREENIVASA REDDY (ABU DHABI)Abu Dhabi's real estate market sustained its upward momentum in the first quarter of 2025, with average apartment rents climbing 10% year-on-year (YoY) and 4% quarter-on-quarter (QoQ), according to the latest market report from real estate consultancy report noted particularly robust growth in the high-end rental segment, where rates increased between 8% and 12%. The mid-tier market also recorded solid gains, with rents rising between 5% and 8%. 'This widespread positive performance, characterised by increasing rents and high occupancy, underscores the fundamental strength and consistency of demand within Abu Dhabi's residential sector,' Asteco said in the the rise in rentals, some low-end apartments remain relatively affordable on Abu Dhabi Island. In areas like Al Khalidiyah and Al Bateen, studio apartments are available for Dh25,000 to Dh35,000 annually, while one-bedroom units range from Dh28,000 to Dh45, Central Abu Dhabi and the Corniche, studios are priced between Dh30,000 and Dh35,000 per year, and one-bedroom apartments can be rented for Dh40,000 to Dh50,000 the healthy rental gains, supply continues to come online at a steady pace. In Q1 2025 alone, approximately 1,200 new residential units were delivered across developments including Jubail Island, Bloom Living – Cordoba Phase 1, Al Jurf Gardens in Ghantoot, Al Raha Beach and Rawdhat Abu Dhabi. The total number of new residential handovers for 2025 is expected to reach 5,500 units, concentrated in key investment zones such as Yas Island, Masdar City, Saadiyat Island and Al Reem to Asteco data sheet, 700 new apartment units and 500 villa units were completed in Abu Dhabi during the first quarter of 2025. This follows the completion of 2,850 apartments and 2,750 villas in 2024. By the end of 2025, total completions are projected to reach 4,000 apartments and 1,500 villas, reflecting a continued expansion in residential supply across the office sector is also gearing up for fresh supply, with the Quartz Tower on Yas Island set to be delivered in Q2, and other major projects like Shams Tower, The Link, and City Square in the pipeline for late 2025 into terms of sales, the market saw 8,700 residential transactions between March 2024 and March 2025. These included 4,100 off-plan deals and 4,600 sales of completed units, which comprised 3,250 apartments and 1,350 villas and townhouses. Notably, transactions for completed properties grew by 6% QoQ and surged 42% YoY reflecting strong demand from both investors and prices also showed a healthy upward trajectory. Apartment prices rose 4% on QoQ and 7% YoY, with high-demand areas seeing annual gains of over 15%. Villa prices increased by 4% QoQ and 8% YoY, with premium locations such as Saadiyat Island registering annual gains exceeding 15%.Asteco observed that 'well-located villas within prime communities continue to outperform the market average', underscoring the premium that buyers place on quality and launches performed strongly, with high absorption rates within weeks of release. 'This reflects sustained buyer confidence in the long-term value and appeal of new developments,' the report noted. Going forward, Asteco said that the Abu Dhabi real estate market remains 'well positioned for continued positive performance in the near to medium term'. Although new supply may moderate the pace of growth in rentals and values, overall market momentum is expected to remain intact, with further upside potential for both capital and rental values.
Al Etihad
13-03-2025
- Business
- Al Etihad
Aldar subsidiary raises $500m through green sukuk
13 Mar 2025 22:04 ABU DHABI (ALETIHAD)Aldar Investment Properties (AIP), a subsidiary of Aldar Properties (Aldar), and owner-manager of Dh28 billion portfolio of income-generating properties, has successfully raised $500 million through a 10-year green sukuk. The issuance saw overwhelming investor demand, with an order book exceeding $3.6 billion, making it 7.2 times oversubscribed, a statement from Aldar said. Regional investors accounted for 61% of allocations, while international investors took up the remaining 39%.With a 5.25% coupon rate, the sukuk was competitively priced at a spread of 110 basis points over 10-year US Treasuries. It follows a similar green sukuk issued in May 2024 when Aldar achieved its lowest-ever spread for a public debt issuance. The strong investor demand was supported by Moody's reaffirmation in January of investment-grade ratings of Aldar and AIP of Baa2 and Baa1 respectively, with a stable outlook. The transaction marked the company's third green sukuk issuance under its $2 Billion Trust Certificate Issuance Programme launched in May Falaknaz, Chief Financial and Sustainability Officer at Aldar Properties, commented: 'Aldar's ability to consistently achieve a favourable cost of capital, even in the context of global market volatility, underscores the strength of our financial position and disciplined capital management. The strong demand for our latest green sukuk is a clear sign of investor confidence in our strategy and commitment to sustainable growth.'Proceeds will be deployed in accordance with Aldar's Green Finance Framework, which guides a broad programme of sustainability initiatives, including Aldar's ongoing investments in optimising energy efficiency. To date, Aldar has invested over Dh150 million in retrofitting 67 properties with new measures designed to optimise energy efficiency and reduce new issuance supports the early redemption of a sukuk maturing in September 2025 and the repayment of outstanding bank debt.
Khaleej Times
13-03-2025
- Business
- Khaleej Times
Aldar further bolsters financial position with $500 million green sukuk issuance
Aldar Investment Properties (AIP), a subsidiary of Aldar Properties, and owner-manager of an Dh28 billion ($7.6 billion) portfolio of income-generating properties, has successfully raised $500 million through a 10-year green sukuk. The issuance was 7.2 times oversubscribed, attracting $3.6 billion orders, with regional and international investors representing 61 per cent and 39 per cent of the total transaction allocation respectively. With a 5.25 per cent coupon rate, the sukuk was competitively priced at a spread of 110 basis points over 10-year US Treasuries, in line with a green sukuk issued in May 2024 when Aldar achieved its tightest-ever spread for a public debt issuance. The strong investor demand was supported by Moody's reaffirmation in January of investment-grade ratings of Aldar and AIP of Baa2 and Baa1 respectively, with a stable outlook. The transaction marked the company's third green sukuk issuance under its $2 billion Trust Certificate Issuance Programme launched in May 2023. Faisal Falaknaz, chief financial and sustainability officer at Aldar Properties, commented: 'Aldar's ability to consistently achieve a favourable cost of capital, even in the context of global market volatility, underscores the strength of our financial position and disciplined capital management. The strong demand for our latest green sukuk is a clear sign of investor confidence in our strategy and commitment to sustainable growth that delivers real impact for our stakeholders and communities.' Proceeds will be deployed in accordance with Aldar's Green Finance Framework, which guides a broad programme of sustainability initiatives, including Aldar's ongoing investments in optimising energy efficiency. To date, Aldar has invested over Dh150 million in retrofitting 67 properties with new measures designed to optimise energy efficiency and reduce emissions, in line with the company's Net Zero goals. The new issuance supports the early redemption of a sukuk maturing in September 2025 and the repayment of outstanding bank debt. JP Morgan and Standard Chartered acted as joint global coordinators, as well as joint lead managers and bookrunners with Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Ajman Bank, Bank ABC, Dubai Islamic Bank, Emirates NBD Capital, First Abu Dhabi Bank, HSBC, KFH Capital, Mashreq and Sharjah Islamic Bank. This green sukuk is aligned with Aldar's broader financial strategy to drive sustainable growth, with the company raising Dh16.3 billion in new liquidity across its capital structure since the start of the year.
Khaleej Times
06-02-2025
- Business
- Khaleej Times
European developer debuts in the UAE with Dh500 million project
Mr. Eight Development, a European property developer with over 20 years of experience, is launching its first residential project in the UAE – Villa del DIVOS on Dubai Islands. This is the first of five planned developments on the Island, with a total investment of half a billion dirhams, setting a new standard for luxury beachfront living. Mr. Eight Development will host an exclusive event at Blue Waters Forum on February 8 to celebrate the launch. The event will bring together industry leaders, investors and special guests and offer an exclusive project preview. Located on Dubai Islands, this development marks the launch of Mr. Eight's first branded project. Featuring 108 one to five-bedroom residences and penthouses, the project offers investors an opportunity to own a prestigious beachfront home in one of Dubai's most exclusive developments. The project also collaborates with renowned British designer Tom Dixon, the creator of the exclusive bathroom fixtures line featured in the residences. Villa del DIVOS offers residences starting from Dh2.2 million for a one-bedroom apartment, with prices reaching up to Dh28 million for the five-bedroom Sky Mansion. The development includes a total of 108 suites, including 12 duplex apartments with private pools. Construction of the project will commence in Q1 2025, with handover scheduled for Q1 2027. Mr. Eight Development is also offering flexible payment plan, allowing buyers to pay 35% during construction and the remaining upon handover. Situated in a prime location on the first coastline of Dubai Islands, Villa del DIVOS offers residents unparalleled access to world-class amenities, including private beaches, a championship golf course, a luxury shopping mall and state-of-the-art healthcare facilities nearby. 'Villa del DIVOS represents the culmination of years of meticulous planning and design,' said Emils Daujats, Director at Mr. Eight Development. 'We are thrilled to introduce this exceptional project to the Dubai market and offer discerning residents a unique blend of modern design, world-class amenities and serene waterfront views. With a private, secluded feel, residents will enjoy the best of both worlds – proximity to the vibrant heart of Dubai while living in a tranquil coastal retreat. 'With great respect for Dubai's beauty, we are inspired to create architecture that enhances its iconic skyline. We believe every project should be more than just a building, it should be a statement of innovation and excellence. We aim to design distinctive landmarks that add value, character and lasting beauty to this extraordinary city,' he added. The development features expansive floor-to-ceiling windows that highlight the stunning coastal surroundings. The interiors are crafted with high-end materials, including Italian Silver Travertine Stone Romano, Italian Calacatta Viola marble and premium fixtures by Tom Dixon, Antonio Lupi, Zonda Lighting and SMEG kitchen appliances, creating an atmosphere of refined luxury. The lobby entrance boasts a grand eight-metre ceiling, furnished with pieces by Cassina and Minotti, Tom Dixon and Flos (Italy) and a welcome table created by Lalique (France). The highlight of the development is the five-bedroom Sky Mansion, an expansive penthouse offering unparalleled ocean views and premium finishes. Villa del DIVOS residents will enjoy a range of amenities, including two infinity pools overlooking the coastline, a state-of-the-art Technogym fitness centre, a private beach club and a wellness centre featuring a spa, sauna and cryotherapy facilities. The project also offers private gardens, a children's play zone and premium leisure spaces such as the Sunset Terrace for yoga and meditation. Residents will have exclusive access to in-house Rolls-Royce cars, with professional chauffeurs, available on-demand for personal use. Similarly, a 24-meter motorboat with a skilled captain will be made available for residents to take in Dubai's breathtaking sunsets. Other privileges residents will enjoy include an on-site bell boy, beach club access, valet parking and in-house spa services. To ensure these exceptional standards, Mr. Eight Development is establishing a dedicated service company. This specialized entity will manage all operations, guaranteeing seamless maintenance and unparalleled experience for every homeowner.
