Developer Aldar launches first residential project in Saadiyat Island’s Marina District
▶ Nouran Living comes with its own cinema and will have a padel court and running track
Abu Dhabi’s largest developer Aldar Properties has unveiled its first properties in Saadiyat Island’s Marina District.
The new mid-rise development, called Nouran Living, consists of 372 studios, and one, two and three-bedroom apartments, Aldar said yesterday. The apartments, with prices starting from Dh750,000, come in two colours and are available for purchase from March 19.
Nouran Living will have several amenities, including a co-working lounge, swimming pool, a dedicated cinema, gym, padel court and running track.
Construction is scheduled to start in the fourth quarter of this year, with apartment handovers expected in the last quarter of 2027.
The project, located close to New York University Abu Dhabi, is equipped with an e-scooter store and parking for electric vehicles.
The launch of the latest project on Saadiyat Island comes as the property market in Abu Dhabi continues to grow.
The ValuStrat Price Index, which analyses changes in property values, registered a growth of 4.2 per cent annually in the emirate last year.
“Continued steady price and rental growth during Q4 [fourth quarter of] 2023 demonstrates a maturing market in Abu Dhabi’s ready home sales; this is supported mostly by domestic buyers,” said Haider Tuaima, director and head of real estate research at ValuStrat, in the fourth-quarter report. “High demand for off-plan properties has been evident with an increase in foreign investors.”
ValuStrat said Abu Dhabi recorded 2,238 off-plan sales transactions last year, a growth of 39.4 per cent compared with the same period in 2022.
The off-plan transactions represented 75.1 per cent of overall sales. Ready home sales transactions rose by 36.5 per cent to 740. Saadiyat Island had the highest annual capital gains in the fourth quarter as villa prices rose by 12.6 per cent, ValuStrat said in its latest quarterly property review report. It was also among the best performing for apartment sales, with a 4.1 per cent increase in prices in the fourth quarter.
Aldar said in February that it planned to invest Dh5 billion to develop a range of income-generating assets in the emirate, with a focus on commercial, retail and hospitality sectors.
It said the new assets would be delivered in a phased manner between 2025 and 2027 and would include commercial assets on Yas, Saadiyat and Al Maryah islands.
On Saadiyat Island, the company will develop a business park with about 26,000 square metres of net leasable area at Saadiyat Grove, an integrated mixed-use development in Abu Dhabi’s Cultural District. Set for completion in 2027, the project will have four Grade A commercial office buildings.
Aldar is developing 78,000 square metres of commercial net leasable area at Saadiyat Grove, including a central shopping destination, two retail boulevards and community retail spaces. It will also develop retail assets in Saadiyat Lagoons, Noya and Yas Golf Collection.
In November, Aldar launched sales of branded properties at Nobu Residences Abu Dhabi on Saadiyat Island. Located in the upmarket Mamsha Al Saadiyat, Nobu Residences includes 88 apartments, a 125-room hotel, a Nobu restaurant and a rooftop bar. The development is set to be completed in the second quarter of 2027.
Abu Dhabi recorded 2,238 off-plan sales transactions last year, up 39.4 per cent from the same period in 2022