Dubai property developer Deyaar has launched Rivage, its first residential project on Abu Dhabi’s Al Reem Island, marking the company's entry into the capital’s real estate market.
Deyaar said construction is set for completion by the last quarter of 2027 but did not disclose the project’s financial details.
Developed in partnership with Arady Properties, Rivage will offer resort-style waterfront living with a variety of luxury homes, including one to three-bedroom units, duplexes, “sky villas and sky palaces”, the Dubai-listed company said in a statement on Tuesday.
Rivage is a “blend of vibrant city life and peaceful waterfront serenity, providing stunning views and top-notch amenities ideal for families seeking both excitement and tranquillity”, Saeed Al Qatami, Deyaar’s chief executive, said.
Located near Zayed International Airport, with healthcare facilities, educational institutions and shopping centres, Rivage aims to appeal investors and families. The development will also include a sky pool, spa, fitness facilities and smart home technology for sustainable living.
“We are confident that Rivage will become one of the most sought-after luxury and lifestyle developments on the island,” said Khaled Al Fahim, chairman of Arady Properties.
“The combined blend of urban sophistication and the tranquil waterfront living offers an unparalleled lifestyle experience to the residences and families,” Mr Al Fahim added.
The UAE’s property market continues to grow on the back of government initiatives such as residency permits for retired people and remote workers, as well as a strong expansion in its non-oil economy.
Deyaar has a share capital of Dh4.38 billion ($1.19 billion). Since its establishment in 2002, the company has delivered an extensive portfolio of commercial and residential properties.
In February, it launched a Dh700 million project in Dubai’s Jebel Ali, ranging from studios to three-bedroom flats. In January, it launched Rosalia Residences in Al Furjan, which has sold out.
Abu Dhabi’s property market, in particular, is booming. In the first half of the year, the emirate recorded 12,439 property transactions valued at Dh36.2 billion, with Dh23.7 billion worth of sales and purchase deals and Dh12.5 billion comprising mortgage transactions, according to the Abu Dhabi Real Estate Centre.
Investors from 75 countries including the US, the UK, China, Russia and Kazakhstan bought property worth Dh3.28 billion in the emirate during the six-month period, the latest data shows.
