An under-construction oceanfront mansion in Abu Dhabi hit the market Monday for AED 98 million (US$26.7 million), the most expensive villa on the market in the U.A.E. capital.
The seven-bedroom property is part of the Ohana by The Sea development, an upscale coastal enclave close to Dubai. It’s expected to be move-in ready at the tail end of 2025.
The villa is “a truly unique property and is located in one of the most exclusive communities in Abu Dhabi and offers stunning views of the Arabian Gulf,” according to Evgeny Ratskevich, CEO of listing agency Metropolitan Capital Real Estate.
Spanning 32,000 square feet, the enormous house will offer features including private beach access, three living rooms, two salons, a home office, two maids’ rooms and a driver and guard’s room.
There will also be a large terrace, three gardens, multiple swimming pools and sea views.
The listing of the villa, and its sizable price tag, “is a testament to the strength of the Abu Dhabi real estate market,” Ratskevich said. “The city has seen a significant increase in demand for luxury properties in recent years, and prices are expected to continue their upward trajectory.”
Abu Dhabi’s property market saw the value of its transactions soar 103% to AED 6.1 billion in the year to the second quarter of 2023, according to data from Knight Frank.
Meanwhile, prices rose 2.8% in the same time, but are still lower than the 2014 market peak.
Villas outperformed apartments in the second quarter, “in part due to a limited supply pipeline, but also due to the persistent desire by households for larger homes as well as their relative price stability,” Knight Frank said. Villa prices grew 4.7% over the second quarter and 5.7% over the year.
Source : MansionGlobal