Latest news with #SaadiyatIsland
The National
2 days ago
- Business
- The National
Aldar unveils $11bn Fahid Island project in Abu Dhabi
Aldar Properties, Abu Dhabi's biggest listed developer, has unveiled the master plan for Fahid Island, with a gross development value of more than Dh40 billion ($10.9 billion) amid a continued boom in the UAE's property market. More than 6,000 luxury residences are planned for the 2.7 million square metre island, ranging from apartments and town houses to ultra-luxury villas, Aldar said in a statement on Monday. The new project, with a 11 kilometre coastline, will be built in the UAE's capital between Yas Island and Saadiyat Island. Aldar acquired Al Fahid Island, a 3.4 million square metre land bank, for Dh2.5 billion in January 2023, with the developer stating at that time that the property's gross development value was Dh26 billion. The acquisition consideration would be paid over five years, Aldar said. Fahid Island builds "on the success of Saadiyat and Yas Islands to offer a new benchmark in premium waterfront living, wellness, and sustainable design", Mohamed Al Mubarak, chairman of Aldar, said. Residential property sale prices in Abu Dhabi rose by 11 per cent annually last year amid rising demand and a supply shortage in the emirate, according to real estate company Cushman & Wakefield Core. The Abu Dhabi Real Estate Centre reported that total transaction values in the emirate grew by 34.5 per cent to Dh25.3 billion from 6,896 deals in the first quarter of 2025, compared with Dh18.8 billion from 5,773 transactions in the same period last year. The UAE's property market continues to perform strongly due to government initiatives such as residency permits for retired people and remote workers, the expansion of the 10-year golden visa programme as well as overall growth in the UAE's economy. An influx of wealthy people is also supporting the property market. Last year, 7,200 millionaires arrived in the UAE, building on the 4,700 who arrived in 2023 and 5,200 in 2022, property consultancy Knight Frank said in a report. The number of dollar millionaires in the UAE was 130,500 at the end of December, making the Emirates the world's 14th-largest wealth market. This follows an announcement by Miral that a Disney theme park will be built on Yas Island, which is expected to increase Abu Dhabi's tourism potential and property demand in the island. ' Our plans for Fahid Island support a thriving real estate market in Abu Dhabi, where we are seeing incredible demand from buyers within the local market as well as overseas investors,' Talal Al Dhiyebi, group chief executive of Aldar, said. Thirty per cent of space of Fahid Island will be dedicated to natural spaces, with a 10 kilometre landscaped space called Berm Park also planned. It will be the island's wellness and fitness corridor with running tracks and three cycling routes that connect to Abu Dhabi's cycle loop, according to Aldar. The island's waterfront promenade will have a mix of retail, dining, and art experiences, while Coral Drive, the island's boutique retail boulevard, will have outlets, concept stores, art galleries, ballet school and cafes and public artworks. The island will also have an international school. The first residential development to be introduced on Fahid Island – Fahid Beach Residences -will have a collection of seven buildings, each featuring 65 residences, Aldar said.
Zawya
5 days ago
- Business
- Zawya
Tabreed operates 92 AI-managed plants in 6 countries from Abu Dhabi hub
National Central Cooling Company, Tabreed, operates a district cooling network comprising 92 plants across six countries, delivering over 1.3 million refrigeration tonnes to its customers, all centrally managed through its control centre in Abu Dhabi. Speaking on the sidelines of the World Utilities Congress held at ADNEC in Abu Dhabi, Khalid Al Marzooqi, Chief Executive Officer of Tabreed, said artificial intelligence will play a pivotal role in the next phase of enhancing energy efficiency in district cooling operations and reducing further carbon emissions. He highlighted that Tabreed is the first district cooling company in the region to collect vast volumes of real operational data over more than 27 years, which has enabled it to accelerate digital transformation and implement AI in its operations. This is demonstrated through its control and monitoring centre located on Saadiyat Island, Abu Dhabi, which remotely oversees and manages all of Tabreed's plants across the six countries. Al Marzooqi added that reaching this level means full automation of plant operations and activation of 24/7 monitoring and control systems, laying the groundwork for the next step—leveraging AI capabilities to proactively optimise plant performance and align production with cooling demand. This, he explained, boosts energy efficiency, reduces pressure on power grids, and ultimately enhances the role of district cooling in cutting carbon emissions and supporting global efforts to achieve net-zero emissions by 2050.
Zawya
7 days ago
- Business
- Zawya
Burjeel expands primary care footprint with launch of new medical center on Saadiyat Island
Abu Dhabi: Burjeel Holdings, a leading provider of super-specialty healthcare services in the MENA region, has officially inaugurated the Burjeel by the Beach Clinic at Abu Dhabi's Saadiyat Island, marking a significant step in its ongoing commitment to expanding access to premium healthcare across the UAE. Strategically located in the heart of Saadiyat Island, the center is designed to serve the diverse community of residents, expatriates, tourists, and corporate professionals. The new center was launched by H.E. Sheikh Zayed bin Saeed bin Zayed Al Nahyan and H.E. Sheikh Hamdan bin Saeed bin Zayed Al Nahyan. The launch event was attended by Dr. Shamsheer Vayalil, Founder and Chairman of Burjeel Holdings, Mr. Saif Alfalahi, Vice Chairman & Non-Executive Director – Independent, Burjeel Holdings, and Mr. Omran Al Khoori, Executive Director, Burjeel Holdings, along with members of Burjeel's senior management. The center's design embraces a 'Burjeel by the Beach' theme, creating a serene, coastal-inspired atmosphere that mirrors the tranquil surroundings of Saadiyat Island. This patient-centered approach ensures that the medical center provides expert care and a calming environment where individuals and families can prioritize their health and well-being. The facility offers a comprehensive range of services, including Family Medicine, Internal Medicine, Pediatrics, Obstetrics & Gynecology, and Psychiatry. In addition to its consulting doctors, the center will welcome visiting specialists from Burjeel's broader network, ensuring continuous access to diverse medical expertise. For patients requiring more specialized interventions, the center will facilitate referrals to the Group's flagship facility, Burjeel Medical City, for advanced care. The center has state-of-the-art diagnostic technologies, including X-ray and ultrasound imaging, providing patients with fast, accurate diagnostic assessments. A fully integrated in-house pharmacy further enhances the center's ability to deliver seamless care, enabling patients to access diagnostics, consultations, and medications all in one convenient location. The center features six fully equipped consultation rooms, five specialized departments, and a dedicated treatment room. In addition, services such as phlebotomy for lab testing and on-site imaging ensure that patients receive a convenient and efficient care experience from start to finish. 'The opening of Burjeel by the Beach Clinic at Saadiyat Island is a key milestone in our mission to bring world-class healthcare closer to our communities. We are proud to offer a facility that combines expert care with a welcoming environment, allowing individuals and families to focus on their health and well-being,' said Mr. John Sunil, Group CEO of Burjeel Holdings. The center will engage the community through wellness programs and corporate health partnerships, further nurturing preventive health practices and promoting the overall well-being of individuals, families, and businesses on the island. 'We are dedicated to providing holistic healthcare that meets the diverse needs of our community. We focus on ensuring that every patient receives compassionate care that supports their physical and mental well-being in an environment that promotes healing and relaxation,' said Dr. Sonia Malik, Consultant, Family Medicine and Medical Director of Burjeel by the Beach Clinic, Saadiyat Island. The launch of Burjeel by the Beach Clinic at Saadiyat Island is part of Burjeel Holdings' long-term healthcare expansion strategy, aimed at enhancing access to high-quality primary care while addressing the broad spectrum of healthcare needs in the community.
Zawya
26-05-2025
- Business
- Zawya
Palm Hills signs deal to develop 1.87mln sqm near Abu Dhabi's Saadiyat Island
Arab Finance: Palm Hills Development has signed an agreement with Wave Seven Investment RSC Ltd. to develop a 1.87 million-square-meter land plot in Abu Dhabi, adjacent to Saadiyat Island, as per a press release. The project will be carried out by PHD North Jubail Property Development Company, a wholly-owned subsidiary of Palm Hills. The site is located near major landmarks, including the Louvre Abu Dhabi, Yas Island, and Reem Island. This marks Palm Hills' first development outside Egypt. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
The National
24-05-2025
- Business
- The National
Ready-unit sales boost Abu Dhabi property market activity in April
A recovery in April of Abu Dhabi's property market was fuelled by a surge in ready-unit sales, amid strong demand in the UAE, a report has shown. Total transactions in the UAE capital rose by 8 per cent month-on-month, to Dh5.7 billion ($1.6 billion), mainly on higher residential and land activity, investment bank EFG Hermes said in its report. Residential activity grew 49 per cent to Dh3.7 billion compared to March, on higher off-plan and ready unit sales, the analysis found. Off-plan sales were up 75 per cent month-on-month at Dh804 million, driven by a pick-up in activity on Saadiyat Island and Al Jubail Island, EFG Hermes said. Aldar Properties accounted for the largest off-plan market share, contributing 70 per cent of off-plan activity in April. 'Aldar recorded total off-plan sales of Dh567 million [up 160 per cent annually, up 92 per cent month-on-month], which were driven mainly by sales in Saadiyat Island. Jubail Island's off-plan activity grew 189 per cent annually to Dh113 million,' EFG Hermes said. 'Bloom Properties' activity was down 12 per cent month-on-month to come in at Dh44 million.' Ready-unit sales in Abu Dhabi in April rose 97 per cent compared to the previous month, the lender estimated. The UAE's property market continues to perform strongly on government initiatives such as residency permits for retired people and remote workers, as well as the expansion of the 10-year golden visa programme and overall growth in the UAE's economy amid diversification efforts. Residential property sale prices in Abu Dhabi rose by 11 per cent annually last year amid higher demand and a supply shortage in the emirate, according to a March report by real estate company Cushman & Wakefield Core. The Abu Dhabi Real Estate Centre reported that total transaction value in the emirate grew by 34.5 per cent to Dh25.3 billion across 6,896 deals in the first quarter of 2025, compared with Dh18.8 billion from 5,773 transactions in the same period of 2024. While Yas Island registered the best annual price performance and Zayed City the lowest, Khalifa City registered the best performance in the rental market. Rents were up 14 per cent month-on-month, with the average annual rent for a two-bedroom apartment in Khalifa City at Dh91,881, the EFG Hermes data showed. Mortgages accounted for 29 per cent of total residential activity, with mortgage activity skewed towards the budget segment, which includes communities such as Zayed City, Khalifa City, Al Jubail Island, Mohamed Bin Zayed City, Khalidiya, Mushrif and Reef, among others, EFG Hermes reported. The average selling prices rose 3.2 per cent year-on-year and 4.9 per cent m-o-m to Dh11,640 per square metre, supported by higher prices across the budget segment, the report said. Market activity in the luxury segment, which includes Saadiyat Island, Al Hudayriyat and Nurai Island among others, was up 152.4 per cent month on month to Dh838 million, supported by higher off-plan and ready-unit sales. Saadiyat Island was the most demanded area for rent, while Al Jubail Island recorded the highest rental value, the data revealed. In the affordable segment, which includes communities like Al Muntazah, Reem Island and Yas Island, transaction value grew 69.2 per cent month-on-month to Dh1.4 billion, supported mainly by higher ready-unit sales. However, prices were down 4.8 per cent annually and 3.7 per cent month-on-month, EFG Hermes found. Total market activity in the budget category increased 7.4 per cent month-on-month to Dh1.4 billion, on higher off-plan and ready unit sales. Mohamed Bin Zayed City had the highest demand in terms of sales transactions, the report said.
