Latest news with #JubailIsland
The National
5 days ago
- Business
- The National
Abu Dhabi's Fahid Island plans give us another peek at the city's extraordinary future
Developer Aldar Properties this week announced its plans for Fahid Island, the sliver of land that sits between Abu Dhabi's Yas and Jubail islands and connects via the road-and-bridge network with Saadiyat. By doing so, we now have a more complete picture of the plan for this quartet of isles that cluster from the mainland near Zayed International Airport to the top of Abu Dhabi city and the Mina Zayed district – and a better sense of the city's present and its prospective future. The developer said at the launch of its Fahid master plan that it will deliver a range of luxury apartments, townhouses and villas to the island, as well as a range of other amenities. Aldar described the project as being designed to draw people from around the city to use its leisure facilities and it was expecting international interest in the scheme. Next door, development of Jubail Island carries on at pace as regular users of the Saadiyat highway will testify. JIIC, the investment company at the heart of the island's development, has previously said the project will combine six residential village estates. Jubail will also be home to a branch of Gordonstoun school, via a licensing agreement that will use the storied Scottish institution's expertise and curriculum. The plan also allows for the majority of the island to remain as a salt marsh and mangrove sanctuary. The natural beauty of Jubail's Mangrove Walking Park is already a fixture of the city's ever-expanding visitor experience. With each passing year, both Saadiyat and Yas, which bookend Jubail and Fahid, become more impressive environments. On Saadiyat, the multi-sensory experience that is TeamLab Phenomena opened in the cultural district earlier this spring. Guggenheim Abu Dhabi and Zayed National Museum are rapidly moving from architectural dream to built reality. So too the Natural History Museum, which promises to be a time capsule that takes visitors back to millions of years ago. Louvre Abu Dhabi has been a much-loved fixture of Saadiyat since it opened in late 2017. Banks of housing stock are fast emerging from the ground, which also hosts prominent education establishments, restaurants, hotels and a long ribbon of luxury housing at its far boundary, known as Hidd. With each passing year, both Saadiyat and Yas, which bookend Jubail and Fahid, become more impressive environments Yas, the buffer before the mainland, rightly stakes its claim as a world-class entertainment destination with its concert arena, F1 track, multiple theme parks - Warner Bros, Yas Waterworld, Ferrari World and Seaworld - as well as hotels, offices, several hues of residential stock and a full suite of leisure pursuits. The latest announcement, delivered last month, is arguably the biggest headliner of them all: the arrival of Disneyland within a decade. Experts say the Disney effect is already in motion, with the announcement instantly creating more interest in the residential property market in the city. That may provide mixed news for those seeking to move to the island, with prices likely to increase, but the overall impact of Disney's arrival is largely positive. Certainly, its presence will also accelerate growth in some sectors of the job market, too. If the Disney effect is at work at one end of that chain of islands, the Bilbao or Guggenheim effect has also been long talked about at the other end, in the context of the cultural district. The introduction of the Guggenheim to the Spanish port city, now almost 30 years ago, helped kickstart economic development and urban regeneration. Its impact will be felt differently in Abu Dhabi, however, sitting as it will do within Saadiyat's constellation of cultural stars, but there is also little doubt the Guggenheim will have an effect in Abu Dhabi, too. It is easy to forget now that Saadiyat and Yas were only connected to the city in 2009, with the opening of the Sheikh Khalifa Bridge and associated motorway that linked these islands with the mainland and the city and the complete offering we see now. The opening of that infrastructure was the moment that the exquisitely detailed scale models of what the future might look like began their journey towards the present. Around the same late aughts period, famed architect and urbanist Rem Koolhaas remarked 'the Gulf is not just reconfiguring itself, it's reconfiguring the world', in reference not just to the plans that were emerging across in the region. Perhaps people also took it to mean that the spectacular was possible in a way that had once been impossible, such as the world's tallest building opening in Dubai in 2009. It also used to be traditional to frame pieces about Abu Dhabi internationally with the idea of something extraordinary happening in the desert environment. With hindsight, those portrayals only told a fragment of the whole story, being overly focused on the possibility of structures emerging from barren ground rather than what was supporting that development in the first place. What they missed were the intangible assets of the city and the country, such as the safety of society – UAE cities are consistently ranked the safest in the world – and the certainty and confidence that means those visions were always destined to become reality. As much as the renderings and sketches are there to entice – in Fahid today, just as they were for yesteryear Saadiyat – it is that certainty about today that makes the possibility of tomorrow so exciting.
Khaleej Times
25-05-2025
- Business
- Khaleej Times
Abu Dhabi rents surge up to 12%: What is driving soaring rental prices in 2025?
Abu Dhabi's residential market has rapidly absorbed new supply over the past 18 months, driven by exceptionally high occupancy and surging demand, pushing rents up by as much as 12 per cent. Around 1,200 residential units, including 700 apartments and 500 villas, were delivered during Q1 2025 in Jubail Island, Bloom Living, and Al Raha Beach. Yet, occupancy levels remain robust, exceeding 95 per cent in many investment zones, according to Asteco. The development pipeline remains active, projecting nearly 5,500 further residential handovers by year-end, concentrated in key areas such as Yas Island, Masdar City, Saadiyat Island and Al Reem Island. A sharp rise in population, reaching 3.789 million as of September 2023, has significantly boosted demand from both tenants and buyers. "High occupancy rates were maintained across all Investment Zones, effectively absorbing the steady delivery of new supply over the past 18 months. Exemplifying this trend, newly constructed developments in areas such as Al Raha Beach report occupancy levels surpassing 95 per cent and achieving strong rental rates,' said the real estate consultancy. '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 throughout the last three years,' it said. In the first quarter of 2025, average apartment rental rates increased by 4 per cent quarter-on-quarter and showed a significant 10 per cent rise year-on-year. 'Growth was particularly strong in the high-end segment, which experienced average rental increases between 8 per cent and 12 per cent. The mid-tier market also saw notable growth, with rents increasing between 5 per cent and 8 per cent, on average,' Asteco added. In the villa market, the luxury segment continued to lead rental growth, especially in prime locations such as Saadiyat and Yas Islands. Rental rates in some communities surged by as much as 15 per cent compared to last year. High-end villa communities also recorded significant gains, with average rental rates rising between 4 per cent and 7 per cent. Haider Ali Khan, CEO of Bayut, said Abu Dhabi's real estate sector in 2025 continues to build on last year's strong momentum, remaining an attractive destination for global investors. 'The influx of capital from sovereign wealth funds and the growing entrepreneurial landscape drive renewed interest in the emirate. With over 30 new projects launched, Dh7.8 billion in foreign investment recorded in 2024, and an increased focus on transactions, Abu Dhabi is establishing itself as a smart, future-ready hub for property investment,' he said. Recently, developer confidence remained evident throughout the first quarter, reflected in several significant residential projects' launches and/or announcements. With many developments encompassing residential and mixed-use components currently in the planning and early development phases, additional new project announcements are anticipated throughout 2025, said property brokerage firm Asteco.
