Sunaina Rana / Emirates Business
Emirates most popular entertainment and leisure destination, Yas Island, is now transforming its growth by developing the most luxurious residential destination. This would act as a key component of the Abu Dhabi Urban Planning Council’s (UPC) Plan Capital 2030.
The global and local economic transformations taking place in the present time, the capital’s real estate market forecast is an effort of UPC is plan to implement its urban structure framework plans in accordance to key market indicators.
Aldar properties has involved in a couple of residential projects whereas the Yas Island is a central part of its destination development strategy. The island is well connected with numerous recreational and leisure spots available.
“Yas Island has been the center of attraction for all the travellers, as the island offers phenomenal hotels and leisure activities. The property has become a most sought after location for people seeking quality education, family friendly entertainment as well as vibrant dining, lifestyle, fitness as part of their everyday lives. We are anticipating now to transform the travel destination to a dream destination for living,” said Mohamed Khalifa Al Mubarak, Chief Executive Officer, Aldar Properties PJSC. “The addition for homes is a significant opportunity for the local and international buyers, which have shown great interest in the land.”
Over the two years the residential market has witnessed an exponential growth, averaging 25% prime sales growth in 2013 and 2014, with prime rents increasing 17% in 2013 and 11% in 2014. The residential market softened this quarter with the stabilisation of prime sales prices, due to the decline in oil price, equity markets and investor sentiment, according to informa-mea.com report. With the diverse cultural effect, the Yas Island is aimed to raise the bar of living standards with different choices of housing.
The Estidama programme of sustainability sits at the heart of Vision 2030 to ensure developments are environmentally, economically, socially and culturally sustainable.
The focus of the project is to present a complete sustainable community, this initiative is designed keeping in consideration the future need of the residents of the houses, plus they have also considered keeping room for alterations if required.