Aldar's AED 137 Million Penthouse Sale Sets New Abu Dhabi Real Estate Record

Aldar, the UAE's premier real estate developer, investor, and manager, has made headlines with the sale of Abu Dhabi's most expensive apartment to date. A lavish three-bedroom penthouse at Nobu Residences on Saadiyat Island has been sold for an impressive AED137 million. This transaction not only breaks records in terms of price but also achieves the highest price per square metre in the emirate, exceeding AED96,000 per sqm.

The significant sale underscores Abu Dhabi's growing appeal as a prime location for residency and a mature investment hub. The capital's allure is attributed to its transparent, business-friendly environment, vibrant entertainment options, beachside living on one of its 200 natural islands, and attractive incentives such as the 10-year Golden Visa programme.

Following closely on the heels of this record-setting transaction is the sale of a four-bedroom duplex sky villa within the same development, which fetched AED130 million. These sales highlight a strong market desire for luxury living spaces in Abu Dhabi.

Talal Al Dhiyebi, Group Chief Executive Officer at Aldar, commented on the milestone, stating that the transaction at Nobu Residences not only establishes a new benchmark for residential property in Abu Dhabi but also highlights the real estate market's maturity. "Year on year, we are seeing healthy increases in both the volume and value of homes purchased," Al Dhiyebi noted. He attributed this growth to supportive government policies and initiatives that enhance Abu Dhabi's attractiveness as a desirable place to live and invest.

Rashed Al Omaira, Acting Director General at ADREC, echoed these sentiments. He remarked on the sustained demand surge across property types in Abu Dhabi's real estate sector. "This new record reflects the resilience and maturity of our real estate market," Al Omaira stated. He emphasized the emirate's solid growth trajectory as a preferred living and investment destination.

Nobu Residences Abu Dhabi is poised to become one of the first branded residences by the globally acclaimed Nobu hospitality brand in the Middle East. The development promises an upscale lifestyle, blending Nobu’s signature Japanese design and hospitality with modern luxuries. Its prime location near Saadiyat Grove and Mamsha Al Saadiyat offers residents easy access to an elegant waterfront promenade featuring over 60,000 sqm of premium retail, dining, and hospitality experiences.

This landmark sale not only signifies a new benchmark for luxury living in Abu Dhabi but also reflects the city's robust real estate market dynamics. With government policies and initiatives continuing to support market growth, Abu Dhabi is firmly positioned as a leading destination for both living and investment opportunities in the region.

With inputs from WAM