A four-bedroom villa on Saadiyat Beach is on the market for Dh8.1 million. Courtesy Better Homes
A four-bedroom villa on Saadiyat Beach is on the market for Dh8.1 million. Courtesy Better Homes

Dh8m Saadiyat Island villa aimed at the less wealthy



It’s an odd set of affairs when property brokers start telling you that a four-bedroom villa on Saadiyat is “reasonably priced” at Dh8.1 million.

But when you start to consider that some of the mansions on the island set to become the home of the new Louvre Abu Dhabi are on the market for around triple that, the price does start to look slightly more affordable in comparison.

“It’s all about the size,” says Maria Eduarda Silveira, a senior residential and commercial consultant at Better Homes, which is marketing the property.

“This villa is not cheap and it is not pricey, it is just the right price for the market. However, it is much more affordable to families than the really big villas on Saadiyat which have been selling for as much as Dh23m and are aimed at the super wealthy.”

Buy despite its less lavish size, luxury is still comparative. This four-bedroom villa is located within walking distance of both the beach and the Saadiyat Island golf course and includes a balcony, off-street parking and a maid’s room.

The house is just 2.4 kilometres from the St Regis Saadiyat Island resort and 2.6km from the newly opened Cranleigh School.

“Over the past year prices on Saadiyat Island have increased significantly,” Ms Silveira said. “It’s because there has been no supply of new homes. Cranleigh School opening has also had an effect on the market as well as the fact that the Louvre will open later this year.”

However, with the Abu Dhabi market, like that in Dubai, suffering from a slowdown in sales volumes following the introduction of mortgage caps, anyone interested in buying here might still be able to negotiate.

“Over the past couple of months the market has really slowed down,” Ms Silveira added. “This is especially the case in Saadiyat, because most people buying here are expatriates and so are not able to borrow as much money as they would have been able to before the mortgage caps were introduced.”

Q&A

How much do homes on Saadiyat Island cost?

Agents report that prices have risen sharply over the past year with townhouses which used to go for around Dh6 million last year now selling for closer to Dh7 million. According to Asteco, Saadiyat Beach Villas were the most expensive villas it surveyed in the third quarter of 2014 with prices for an average three-bedroom villa going for Dh5.5 million, a four-bedroom villa costing Dh5.8 million, and a five-bedroom villa on the market for Dh10.5 million.

When will the Louvre actually open?

According to Aurélie Filippetti, the French minister of culture, speaking at the opening of the Abu Dhabi Art festival last year, the long awaited Louvre museum will finally open to the public on UAE National Day, December 2, 2015. It is expected be followed by the opening of the Zayed National Museum in 2016 and the Guggenheim Abu Dhabi in 2017.

What else is planned for Saadiyat Island?

Saadiyat Island has been divided into six separate neighbourhoods. The Cultural District, located just across the bridge from Abu Dhabi island, will contain the three museums and a performing arts centre; the Saadiyat Beach district based around nine kilometers of beach includes some luxury homes and hotels and has been earmarked for many more. There will also be a Marina district providing berthing for more than 1,000 vessels; Saadiyat Reserve which will include the island’s natural wetlands, Saadiyat Promenade which will include shops and restaurants around a boardwalk; and Saadiyat Lagoons around the island’s tidal lagoon system.

How much of the masterplan has actually been built?

Currently the Saadiyat Beach district is the most advanced and includes most of the island’s completed houses. New York University opened its Saadiyat Island campus in September – the same time that Cranleigh School also opened.

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Suggested picnic spots

Abu Dhabi
Umm Al Emarat Park
Yas Gateway Park
Delma Park
Al Bateen beach
Saadiyaat beach
The Corniche
Zayed Sports City
 
Dubai
Kite Beach
Zabeel Park
Al Nahda Pond Park
Mushrif Park
Safa Park
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