Why live on Saadiyat Island? Property expert Alan Kaye explains
Ten years ago there was an idyllic island, little more than ten minutes drive from the Abu Dhabi Corniche. The island boasted crystal clear lakes, flamingos, gazelles and other wildlife in abundance. That was the ‘island of happiness,’ more commonly known as Saadiyat.
Now Saadiyat is destined to be the major cultural centre of the UAE. Already operational is the Manarat Al Saadiyat arts and cultural centre, home to the permanent exhibition – The Saadiyat Story. It brings to life the historic and cultural vision, and future plans for the island. The display runs along with a continuous programme of exhibitions and visiting speakers.
The Louvre Abu Dhabi is expected to open on UAE National Day in 2015, the Guggenheim Abu Dhabi is planned for 2016 and the Zayed National Museum for 2017. An artistic quarter is planned with galleries featuring local artists and sculptors. New York University and a brand new international school and nursery are also coming to Saadiyat. A unique open-air air-conditioned shopping mall called The District, is expected to open in 2017.
New hotels joining the existing brands St. Regis Saadiyat Island Resort and The Park Hyatt Abu Dhabi, include the Beach Rotana and Shangri-La. Work is underway on a new local community mall, which will be located behind the Saadiyat Beach Residence, it will have a Starbucks, supermarket, hair salon and other outlets to serve the community.
All of these developments will ensure that Saadiyat will not only be a cultural centre but a primary place to live in Abu Dhabi. Property prices are beginning to reflect this appeal of the island by increasing on a month-on-month basis by as much as ten percent.
Currently available is a new building at Saadiyat Beach Residences, where the asking price to rent a one-bedroom is circa AED 115,000 per annum, a two-bedroom is AED 170,000 and a three-bedroom is around AED 195,000. A small number of three and four bedroom apartments are still available to buy priced at around AED 2.8 million, which were selling for AED 2.4 million only four weeks ago.
Saadiyat is now considered to be possibly one of the most prestigious addresses in Abu Dhabi particularly the Residences at the St. Regis. The villas here are currently renting for circa AED 700,000 and the rent for a two-bedroom apartment is around AED 230,000 per annum.
The Tourism Development & Investments Company is developing beachfront apartments and villas of which the details are due to be announced shortly. Also planned for 2016 is a completely new development by Saadiyat Development and Investment Company, which will have beachfront villas, apartments, shops and amenities.
At this moment in time Saadiyat is one of the most exciting places to be living in, not just in Abu Dhabi but the whole UAE. Almost on a weekly basis new things are happening and where once Saadiyat was considered to be ‘a long way away’ everyone now realises it is less than ten minutes from the Corniche.
The centre of the social scene on Saadiyat is the Monte Carlo Beach Club. The Sea Lounge hosts different events nightly and the Le Deck restaurant regularly win awards as one of the best in the capital.
The beach is spectacular with regular sightings of dolphins in the turquoise seas and the island maintains a strong eco and conservation ethos with all water being recycled and much of the landscaping using plants, which are natural to the desert.
The idyllic island of happiness has grown and developed from it’s untouched, natural beginnings, but it still retains a sense of beauty that make it a sought after living location.
