Handover of all the high end luxury homes set to be completed by the fourth quarter of 2012
The Tourism Development and Investment Company announced on Wednesday that it had started the handover of Saadiyat Beach Villas Phase 1 to their owners.
The high end, luxury homes that are available to buyers range from three to six bedroom villas and are divided into two phases. The first phase consists of 254 villas and was launched in 2009 and completely sold out. Due to this success, a second batch of 90 villas was released in November 2011 to meet demand. The handover of both phases are set to be completed by the fourth quarter of 2012.
“Each property has been carefully developed and finished to remarkable standards, and the handover of the first villas is an extremely important milestone. We are delighted with the demand we have received for these villas and we attribute this success to the fact that these properties offer a smart investment opportunity,” said Ahmed Al Fahim, executive director of Marketing, Communications, Sales and Leasing at TDIC.
In 2011, Saadiyat Island saw a burst of activity, with a number of hospitality and cultural projects launched, including the St Regis Saadiyat Island Resort in November 2011. The Park Hyatt Abu Dhabi Hotel and Villas, which was developed by Abu Dhabi National Hotels Company, was also opened.
TDIC plans to introduce a number of important community services and developments for residents, including a purpose built nursery, a retail centre, mosque and an international school.
All developments are scheduled to be completed by 2013.