Tourism Development & Investment Company (TDIC), master developer of Saadiyat in Abu Dhabi, is showcasing its project portfolio at this year’s Cityscape Abu Dhabi from 22nd to 25th April 2012, with an emphasis on its exclusive residential communities.
TDIC continues to garner an increasing interest in its residential properties; during the first three months of 2012, the company received a record of more than 2250 sales and leasing enquiries, representing a 168% increase in comparison to the same period of last year.
At this year’s Cityscape stand, visitors will have the chance to learn more about TDIC’s projects. An emphasis is placed on the prestigious island of Saadiyat, which is home to a number of exclusive residential communities. Saadiyat Beach Villas is located in the Saadiyat Beach district, and consists of high-end homes that are available in sizes ranging from three to six bedrooms. The first phase of the development was announced in 2009 and completely sold out; a second phase was released in November 2011 to meet demand. TDIC has now begun the hand over of the first phase villas to their owners; second phase hand over will begin in Q4 2012. Leasing and lease-to-own options are also available on these villas.
The Residences at The St. Regis Saadiyat Island Resort - a prestigious collection of 32 exclusive villas, 259 apartments and five penthouses - is also located on the island. These apartments and villas offer residents the first opportunity to live in St. Regis-branded residences in the region, and feature stunning views of the Arabian Gulf and Saadiyat Beach Golf Club. The villas come in four and five bedroom sizes, while the apartments are available in studios, one, two, three, and four bedrooms. Residents enjoy access to the pristine shores of Saadiyat Beach, as well as St. Regis-branded privileges and benefits, such as 24-hour butler services and in-residence catering, in the comfort of their own homes.
The first phase of the St. Regis Apartments, which consisted of 75 units, was released in November 2011 and completely leased out in just over a month; the first tenants moved in January 2012. An additional 60 apartments were launched in January 2012 to meet demand, and were completely leased out. TDIC recently launched the third and last phase, which consists of 124 apartments that are currently receiving a high amount of demand. Due to the ongoing interest that TDIC received from clients requesting to lease the villas, 12 of the 32 units were also released for leasing in January 2012.
Ahmed Al Fahim, Executive Director of Marketing, Communications, Sales & Leasing at TDIC, said: "We’re delighted to return to Cityscape this year and to showcase our diverse and exciting projects. 2011 was a phenomenal year for our residential portfolio and looking ahead to 2012 we are set to exceed this success. TDIC constantly monitors the residential market to ensure that we strategically identify what clients are currently looking for and develop homes to meet demand where it exists. We believe this, combined with the unparalleled quality of our homes and the bespoke financing options that we offer to prospective clients, is the key to our success."
The success of Saadiyat’s residential communities can be attributed to the exclusive lifestyle that the island offers to its residences. In 2011, Saadiyat came to life, as various exciting hospitality and cultural projects launched, helping to secure the island’s appeal as an inviting destination for residents and visitors. In November 2011, TDIC opened the St. Regis Saadiyat Island Resort, Abu Dhabi - a 377-room hotel, which features a truly serene spa and a wide variety of fine dining restaurants. Park Hyatt Abu Dhabi Hotel and Villas, developed by Abu Dhabi National Hotels (ADNH), also opened its doors on the island, offering 270 rooms, a multi-functional event facility, a spa, and a number of restaurants.
The island’s new offerings, together with the already opened Monte-Carlo Beach Club, Saadiyat and Saadiyat Beach Golf Club are set on one of the most pristine beaches the UAE has to offer, making Saadiyat a very appealing residential address.
In Abu Dhabi city, TDIC is gearing up to launch the residential component of the Eastern Mangroves complex. The project, which occupies a prime position along a 1.2 kilometre stretch of Abu Dhabi’s protected Eastern Mangrove district, incorporates the five-star Eastern Mangroves Hotel and Spa by Anantara, an exclusive resort-style residential community and the ’Eastern Mangroves Promenade’ retail complex. The hotel and first phase of the residential component will be completed in the summer of 2012, while the retail section and remaining residential buildings will be finished in Q4.
The residential component of Eastern Mangroves consists of the high-end, luxurious units of the "Eastern Mangroves Residences" and the sleek, spacious apartments of the "Eastern Mangroves Promenade Apartments". The Residences feature only 50 high-end units, which is indicative of the level of exclusivity they offer. The Promenade Apartments feature a selection of 170 spacious apartments set across two buildings.
Residents of the apartments will enjoy the convenience of having a vibrant retail complex right at their doorstep, as well as the first-class amenities of the hotel. The units of the Eastern Mangroves Promenade are available for leasing and will be delivered in Q3 of 2012. The retail complex will feature an eclectic variety of outlets, including restaurants to suit a range of tastes and a supermarket.
The variety of financing options that TDIC has carefully developed for prospective homeowners has helped propel the company to the forefront of the emirate’s residential market.