UAE property investors looking for the ultimate getaway can include Abu Dhabi’s Zaya Nurai Island on their list of options, but they will need a well-lined wallet to secure it.
The latest property in the luxury development to hit the market is a Dh27 million four-bedroom waterfront villa.
The island is a 10-minute boat ride from a Saadiyat Island jetty from where the owner can then reach their home, which promises a “Maldives setting”, according to the Dubai-based Gulf Sotheby’s International Realty listing the property.
It is one of 25 villas and a boutique resort hotel that make up the development. While this villa, which has never been lived in, was first completed last year, others are still in the process of being handed over.
Set on the waterfront, the villa features open spaces filled by natural light built over a plot of about 25,000 square feet. Spread over three floors with a private pool and a Jacuzzi, its total built-up area is 10,011 square feet.
The villa comes with five bathrooms, marble flooring, a garden and a courtyard.
The 4.3-million-square-foot development is operated by Zaya Retreats, a resort spa and residence management company. It encourages residents to take advantage of the amenities in the island, which include three restaurants, multiple lounges, a private helipad, a fully equipped spa and fitness centre, private beaches and a floating marina with arrivals lounge for residents, resort guests and visitors.
The hotel Zaya Nurai Island by Zaya Retreats opened in January, and its 32-villa resort has prices starting about Dh3,290 for one-bedroom villas. Dubai-based Zaya Hospitality manages the villas.
Its staff can also provide island residents with the basic maintenance and daily services such as concierge offerings, housekeeping, security and catering.
Since the island can only be accessed by boat or helicopter, there are no cars except golf carts and hence no need for car parking spaces.
This, however, is not the only pricey home available to buy on the island. Another, a beachfront estate with six bedrooms and eight bathrooms, is on the market for Dh55m.
Its features include a large pool in a private garden, a games room, staff quarters, smart home technology and a Jacuzzi with an accompanying steam room and sauna.
What are the asking prices for similar homes in the capital?
Waterfront villas in Abu Dhabi are in short supply, but some – such as a five-bedroom villa in Al Raha Beach – have an asking price of about Dh18m, according to online property search websites. Those in Dubai’s Palm Jumeirah range from about Dh20m to Dh78m.
How have residential sales prices in the capital performed recently?
Sale prices of Abu Dhabi’s apartments and villas remained stable during the first quarter of this year at about Dh16,000 per square metre, according to JLL. Prices for Dubai properties have declined during the same period. Rents for prime two-bedroom apartments increased during the period due to the limited inventory. Rents rose on average 4 per cent to touch Dh163,000 a year for prime two-bedroom apartments.
What is the forecast for the Abu Dhabi residential market?
About 5,000 more residential units are expected to come on to the market this year, according to JLL. These will include Aabar Properties’ The Views on the Corniche, Hydra Properties’ Hydra Avenue and Aabar’s The Wave on Al Reem Island, Aabar’s C59 Rawdhat on Airport Road and Abu Dhabi National Insurance Company’s Amwaj 2 at Al Raha Beach. “There remains a shortage of quality supply across all price points and an acute shortage of affordable housing,” according to JLL’s first-quarter report on the Abu Dhabi residential market.
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