All properties in phase two of a new $2.1 billion gated community with a man-made hill on Abu Dhabi's Reem Island have sold out, developer Q Properties said.
The second phase of homes at Reem Hills includes four new clusters of homes — Sunset Valley, Reem Avenue, Canal Promenade and Canal Side — amid strong demand for property in the capital.
The new clusters feature three-bedroom townhouses and four-bedroom twin villas set around the man-made hill in the centre of the community.
“The exclusive Dh8 billion [$2.17bn] contemporary development offers a wonderfully serene lifestyle and a welcome respite from city life, and it goes without saying that this amazing milestone wouldn’t have been reached so quickly without the support of our partners, stakeholders and brokers, all of whom have contributed greatly to its success," said Majed Odeh, chief executive of Q Holding, of which Q Properties is a subsidiary.
Prices started from Dh2.2 million for townhouses and Dh3.7m for twin villas. There was a choice of three architectural styles: chic, rhythm and minimal.
Q Properties said the phase sold out at a soft launch for the project, and has led to the cancellation of the official launch this week.
The man-made hill, a first such project in Abu Dhabi, will be formed using “natural local materials which are compacted in layers to create stability and permanence”, Mr Odeh previously told The National.
“The hill will feature an aesthetically designed gentle slope from ground level to peak,” he said.
“This will enable us to achieve a firm gradient [that] will retain its shape naturally as it leads up to the building plots without any need to incorporate structural elements, which could affect the scenic perspective from the properties, while supporting the construction of roads and ancillary public services.”
The first phase of the project, Sierra Views, is due for completion in December 2024.
Reem Island has been a popular area for property hunters for more than a decade, with its mix of cheaper units and public beaches. It will also be home to the soon-to-open Reem Mall.
Reem Hills will be the first major villa development on the island. There is a small cluster of 42 villas in a development called Nalaya Villas, which opened in 2016.
The improved sentiment in the UAE property market has come on the back of government initiatives such as residency permits for retirees and remote workers, as well as the expansion of the 10-year golden visa programme.
The market has also benefited from the country's widespread coronavirus vaccination programme, which has kept cases relatively low.
Abu Dhabi recorded 7,474 property transactions worth more than Dh22.51bn in the first six months of the year.
A host of new developments have been announced across the capital this year. These include Bloom Holding's Bloom Living project, which will offer 4,000 units, and Aldar's Grove District and Louvre Residences on Saadiyat Island.
