AED137 million Aldar penthouse sets new Abu Dhabi record

AED137 million Aldar penthouse sets new Abu Dhabi record

19 March 2024, Emirates News Agency (WAM)

Aldar, the leading real estate developer, investor, and manager in the UAE, announced today the landmark sale of Abu Dhabi’s most expensive apartment, a three-bed penthouse at Nobu Residences on Saadiyat Island valued at AED137 million. The sale represents the highest price per square metre achieved in the emirate, at more than AED96,000 per sqm.

This milestone price point reflects the continually growing appeal of the UAE capital as a sought-after place to live and a mature investment destination. Driving the desirability of Abu Dhabi is a transparent and business-friendly environment, enriching entertainment, beachside living on one of 200 natural islands, and incentives like the 10-year Golden Visa programme.

Reflecting a strong desire for luxury living, the record sale of the Nobu Residences Abu Dhabi penthouse follows a recently sold four-bed duplex sky villa at the same development for AED130 million.

Talal Al Dhiyebi, Group Chief Executive Officer at Aldar, said, “This milestone transaction at Nobu Residences not only sets a new benchmark for residential property in Abu Dhabi but also underscores the maturity of the real estate market. Year on year, we are seeing healthy increases in both the volume and value of homes purchased, driven by supportive government policies and initiatives that have increased the attractiveness of Abu Dhabi as a place where people want to live and see real opportunity for investment. We expect this trend to continue as we bring some of the UAE’s most luxurious lifestyle concepts to life on Saadiyat Island and across Abu Dhabi’s prime locations.”

Rashed Al Omaira, Acting Director General at ADREC, said, “Abu Dhabi’s real estate sector continues to gain significant momentum with a sustained surge in demand across property types. This new record reflects the resilience and maturity of our real estate market, reaffirming the solid growth of Abu Dhabi as a preferred place in which to live, work, and invest. By steadily expanding new horizons, our mission remains to develop outstanding residential projects that incorporate the unique and diverse cultural ambience of the emirate of Abu Dhabi, concurrently positioning it as an exceptional destination at the heart of the real estate market worldwide for living and investment.”

Nobu Residences Abu Dhabi is set to become one of the first branded residences for the globally renowned Nobu hospitality brand in the Middle East. The community promises an elevated lifestyle, seamlessly integrating Nobu’s Japanese design and hospitality with contemporary luxuries to offer an elevated living experience. It is conveniently located within walking distance of Saadiyat Grove and Mamsha Al Saadiyat, offering an elegant waterfront promenade with more than 60,000 sqm of premium shopping, dining, and hospitality experiences.

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