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 Abu Dhabi’s Most Expensive Apartment Sold for $37.31 Million


Abu Dhabi’s Most Expensive Apartment Sold for $37.31 Million

Aldar, the leading real estate developer, investor, and manager in the UAE, on Monday announced the sale of Abu Dhabi’s most expensive apartment, a three-bed penthouse at Nobu Residences on Saadiyat Island, for $37.31 million.

The sale represents the highest price per sq m achieved in the Emirate, at more than $26,141 per sq m, Aldar said in a disclosure to Abu Dhabi Securities Exchange (ADX).

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 $35.4 million.

In addition to the exclusivity of the Nobu brand, the residences’ location on Saadiyat Island contributes to the valuation. With Saadiyat Cultural District’s square mile of five major museums nearing completion, including Guggenheim Abu Dhabi, developments in the heart of this world-class cultural ecosystem are attractive prospects for buyers. The iconic Louvre Abu Dhabi already welcomes thousands of international visitors each year; coupled with new hospitality and dining concepts on the horizon, Saadiyat Island is fast becoming one of the world’s premier destinations.

Image courtesy: Aldar

New Benchmark Sale

Aldar CEO Talal Al Dhiyebi said that this milestone transaction has not only set a new benchmark for residential property in Abu Dhabi but also underscored the maturity of the real estate market.

“We are seeing healthy increases in both the volume and value of homes purchased y-o-y, 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,” he said.

Rashed Al Omaira, Acting Director General at Abu Dhabi Real Estate Centre (ADREC) said that Abu Dhabi’s real estate sector continued to gain significant momentum with a sustained surge in demand across property types.

This new record reflects the resilience and maturity of Abu Dhabi’s 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,” he added.

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 sq m of premium shopping, dining, and hospitality experiences.

Global Business Magazine

Global Business Magazine

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