New Real Estate Projects Prepare To Enter The Market In Abu Dhabi
According to The National, several towers are scheduled to open on or near the Corniche in Abu Dhabi in the next few months, offering more than 1,400 apartments with rooftop pools, health clubs and all the modern amenities. For the first time, the capital will have the type of high-end apartment towers common in Dubai. "I see a lot of people moving back from Dubai because we have the quality now," says Almer Agmyren, the managing director of Rex Real Estate.
The list of nearly completed projects includes Etihad Towers, the collection of five blocks near the Emirates Palace hotel. There is also the 47-storey Seba Tower, now known as Al Ain Tower and commonly known as the "wobbly building", near Spinneys market, and Nation Towers, which is next to the Hilton Corniche. "Anything on the Corniche is literally like a jewel in the crown," says Steve Morgan, the head of the UAE office for the property consultancy Cluttons. "They are filling a niche in the marketplace for people who can afford it."
Prospective tenants have been told the first of the 885 apartments in Etihad Towers will be available on October 15. Annual rents in the Etihad Towers apartments range from a low of US$ 27 thousand for a 67-square meter one bedroom to US$ 265 thousand for a 732-square meter penthouse. A two-bedroom, 160 square meter apartment is listed at about US$ 61.3 thousand. Al Ain Tower, which is expected to offer similar pricing, is also scheduled to open by the end of October, agents have been told. Nation Towers is likely to open in the spring.
The list of nearly completed projects includes Etihad Towers, the collection of five blocks near the Emirates Palace hotel. There is also the 47-storey Seba Tower, now known as Al Ain Tower and commonly known as the "wobbly building", near Spinneys market, and Nation Towers, which is next to the Hilton Corniche. "Anything on the Corniche is literally like a jewel in the crown," says Steve Morgan, the head of the UAE office for the property consultancy Cluttons. "They are filling a niche in the marketplace for people who can afford it."
Prospective tenants have been told the first of the 885 apartments in Etihad Towers will be available on October 15. Annual rents in the Etihad Towers apartments range from a low of US$ 27 thousand for a 67-square meter one bedroom to US$ 265 thousand for a 732-square meter penthouse. A two-bedroom, 160 square meter apartment is listed at about US$ 61.3 thousand. Al Ain Tower, which is expected to offer similar pricing, is also scheduled to open by the end of October, agents have been told. Nation Towers is likely to open in the spring.
