A three-bedroom penthouse in Nobu Residences that occupies the entire top floor sold for AED 137 million, or about $37,308,305.80.
This is the highest price ever paid for a residential property in Abu Dhabi per square meter.
This transaction, which breaks previous capital records at over AED96,000 per square meter, occurs shortly after Aldar sold a duplex sky villa with four bedrooms for AED130 million at the same Nobu Residences development.
Talal Al Dhiyebi, Group Chief Executive Officer at Aldar, said: “This milestone transaction at Nobu Residences not only sets a new benchmark for residential property in Abu Dhabi but also underscores the maturity of the real estate market.
“Year on year, we are seeing healthy increases in both the volume and value of homes purchased, driven by supportive government policies and initiatives that have increased the attractiveness of Abu Dhabi as a place where people want to live and see a real opportunity for investment. We expect this trend to continue as we bring some of the UAE’s most luxurious lifestyle concepts to life on Saadiyat Island and across Abu Dhabi’s prime locations.”
The homes’ prestigious Saadiyat Island location and the Nobu brand’s reputation both influenced the valuations.
Major museums like the Guggenheim Abu Dhabi, which is a part of the Saadiyat Cultural District, are almost complete, indicating promising developments there.
Rashed Al Omaira, Acting Director General at ADREC added: “Abu Dhabi’s real estate sector continues to gain significant momentum with a sustained surge in demand across property types. This new record reflects the resilience and maturity of our real estate market, reaffirming the solid growth of Abu Dhabi as a preferred place in which to live, work, and invest.
“By steadily expanding new horizons, our mission remains to develop outstanding residential projects that incorporate the unique and diverse cultural ambiance of the emirate of Abu Dhabi, concurrently positioning it as an exceptional destination at the heart of the real estate market worldwide for living and investment.”
Upon completion in 2027, Nobu Residences will offer high-end services and amenities that are in line with the Nobu hotel brand.
The penthouse features a private pool and a terrace overlooking the cultural district. Like the duplex, it is offered fully furnished with sumptuous Japanese design elements.
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