The sale of a three-bedroom penthouse at Nobu Residences for AED 137 million, approximately $37,308,305.80, marks a significant milestone in Abu Dhabi’s real estate market.
Highest Price Per Square Mete
This transaction represents the very best price consistent with a square meter ever paid for residential assets inside the capital.
With a promoting charge that exceeds AED 96,000 per square meter, this sale surpasses preceding records in Abu Dhabi. It comes quickly after Aldar Properties offered a four-bedroom duplex sky villa on the identical Nobu Residences development for AED one hundred thirty million, demonstrating the ongoing call for luxury properties inside the region.
A Maturing Real Estate Market
Talal Al Dhiyebi, Group Chief Executive Officer at Aldar, commented on the milestone transaction at Nobu Residences, mentioning: “This milestone transaction now not handiest sets a new benchmark for residential belongings in Abu Dhabi however additionally underscores the maturity of the real estate market.“
He continued, “Year on year, we are witnessing healthy increases in both the volume and value of homes purchased. This trend is driven by supportive government policies and initiatives that have enhanced the attractiveness of Abu Dhabi as a desirable place to live and invest. We anticipate this trend to continue as we introduce some of the UAE’s most luxurious lifestyle concepts to Saadiyat Island and other prime locations across Abu Dhabi.“
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Prime Location and Prestige
The high location of the homes on Saadiyat Island and the prestigious Nobu brand surely contributed to the excessive valuations.
Additionally, promising developments consisting of the final touch of fundamental museums just as the Guggenheim Abu Dhabi, a part of the Saadiyat Cultural District, have further better the enchantment of the area.
Reflecting Market Resilience
Rashed Al Omaira, Acting Director General at ADREC, commented on the record-breaking transaction: “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 ambiance 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.”
Upon completion in 2027, Nobu Residences will offer upscale services and amenities consistent with the Nobu hotel brand.
The penthouse features a terrace with views of the cultural district and a private pool. It will be offered fully furnished with opulent Japanese design elements, similar to the duplex.
