We had a few sales this week in Abu Dhabi and quite frankly they came out of the blue. We have not advertised AD for over 7 months and the website is totally out of date! We put our heart and soul into The Palm and then 3 quick sales from somewhere off the radar.
I actually worry about things like this, convincing myself that i am missing a trick and too slow to see what is happening.After scratching my pate for 48 hrs I decided to get in the car and see for myself how the Capitol was bucking the trend.
Here is what i saw.
This is the New Head Office for Aldar and in my opinion totally breathtaking. I don't suppose it is particularly economic on useable space but on this occasion i don't care. It is going to be the centre piece for some time for Al Raha Beach and allows Aldar bragging rights to say they have arrived and mean business.
Muneera and Bandar projects are a short distance away and unfortunately it was a sandy day and difficult to get decent photos.
These projects are progressing well and have come out of the ground siginificantly which must account for the recent activity.
There is a huge lack of housing in Abu Dhabi which sees rental rates still rising. It is in need of properties reaching the market as soon as possible. These projects benefit from being close to the Etihad headquarters and will be full of Pilots etc.
Despite the recent downturn it looks to me like Al Raha beach is going to have a good run as all the fundamentals are in place and to top it all Abu Dhabi Finance ( along with other banks) are throwing money around at would be homeowners.
I don't suggest we all go buying off plan properties again just yet but the prices you can buy AL Raha beach for today are going to rise considerably in the 12 months.
