Real Estate

Beachfront villa in Abu Dhabi listed for record $27m

October 9, 2023, 12:16 PM

Abu Dhabi Ohana seafront mansion villa — A planned depiction of the seven-bedroom property, which will feature swimming pools, a home office and private beach access

Ohana by the Sea villa listed off plan for AED98m
To be completed Q4 2025
Abu Dhabi residential transactions almost doubled in H1 2023

The most expensive villa in Abu Dhabi has been listed for sale as the off-plan property market in the UAE capital continues to witness strong growth.

The AED98 million ($26.7 million) villa, located in the Ohana by the Sea coastal development between Abu Dhabi and Dubai, is scheduled to be handed over in the fourth quarter of 2025.

The 32,000 square foot, seven-bedroom beachfront property will offer private beach access. It will have three living rooms, two salons, a home office, three private gardens with direct beach access, a terrace, two maids’ rooms and a driver and guard’s room.

It also includes swimming pools and finishings by Elie Saab Maison.

“The city has seen a significant increase in demand for luxury properties in recent years, and prices are expected to continue their upward trajectory,” said Evgeny Ratskevich, CEO of Metropolitan Capital Real Estate, which has exclusively listed the property.

Ohana by the Sea is a development consisting of 45 villas at the Dubai and Ghantout border.

Ohana villa Abu Dhabi — The villa is planned to include a driver’s room

In the first half of this year, the total number of residential transactions in Abu Dhabi increased by 94.1 percent, according to a report from CBRE Middle East.

This included a 160.4 percent increase in off-plan deals in the first six months of the year.

Villa prices grew 4.7 percent between March and June and are now 5.7 percent higher than this time last year, as per the most recent research from Knight Frank Middle East.

A total of 33,700 homes are expected to be delivered in Abu Dhabi by the end of 2027, with 59 percent of them being villas.

Abu Dhabi real estate encountered a record 363 percent rise in purchases by foreign buyers in the first half of 2023, according to data from Abu Dhabi’s Department of Municipalities and Transport.

Foreign purchasers spent AED834.6 million ($227.2 million), the department said, adding that the most popular location among overseas investors was Saadiyat Island, which attracted 34 percent of sales.

This was followed by Yas Island (28 percent), Al Jurf (12 percent), Al Reem Island (11 percent) and Al Shamkha area (8 percent).