Tag: Modon Properties

  • Modon Sells Dh1.25 Billion Bashayer Homes in One Day

    Modon Sells Dh1.25 Billion Bashayer Homes in One Day

    The sellout marks another milestone for Abu Dhabi’s residential market, with 71% of buyers reported as new customers, signaling expanding demand beyond the emirate’s existing investor base.

    The final phase of Bashayer includes a mix of one-, two- and three-bedroom apartments, four-bedroom penthouses, and newly introduced two- and four-bedroom townhouses, adding to the development’s residential diversity.

    Located on Hudayriyat Island, the waterfront community is designed around outdoor living and shared amenities. Its centerpiece is a 3.5-kilometre waterfront promenade with walkable piers extending over the water, providing residents with walking paths and recreation areas along the coast.

    Additional facilities include landscaped parks, a fully equipped gym, hydrotherapy facilities, children’s play areas, and retail outlets integrated into the community layout.

    Modon stated that the strong response highlights continued demand for high-quality residential developments in Abu Dhabi and growing interest in waterfront communities that offer modern homes combined with lifestyle amenities.

    Bashayer forms part of the wider development of Hudayriyat Island, which continues to expand its residential, leisure and tourism offerings as part of Abu Dhabi’s broader infrastructure strategy.

    The rapid sellout follows a pattern of strong absorption rates in Abu Dhabi’s waterfront and island developments, where limited coastal inventory and lifestyle-focused design have driven premium pricing and investor confidence.

    In June 2026, Modon and Abu Dhabi Islamic Bank introduced the emirate’s first off-plan home financing solution, enabling eligible buyers to access up to 75% financing during the construction phase — a move that may have contributed to increased purchasing power among end-users and investors alike.

    The company has invited prospective buyers and investors interested in future projects to register their interest through its official channels as it continues to expand its Abu Dhabi portfolio.

  • Abu Dhabi Residential Market Posts Second-Strongest Quarter on Record

    Abu Dhabi Residential Market Posts Second-Strongest Quarter on Record

    The capital’s property sector maintained robust momentum through January and February before moderating in March as regional geopolitical tensions, Ramadan observance, and school holidays influenced activity levels.

    Off-plan sales continued to dominate the market in Q1 2026, accounting for 81 percent of all transactions, up from 80 percent in Q4 2025. Demand was supported by major launches, including Manchester City Yas Residences by Ohana Development, which generated AED6 billion in sales within 72 hours.

    Apartment activity reached unprecedented levels, with a record 5,200 apartment transactions in the quarter, representing 73 percent of all sales, up from 67 percent in 2025. This marked the third consecutive quarter with apartment volumes above 4,000.

    Average sales rates across Abu Dhabi increased sharply during the period. Off-plan rates rose 39 percent quarter-on-quarter, from AED16,540 per square meter at the end of 2025 to AED23,067 per square meter in Q1 2026. The ready market also improved, with average rates rising 2.66 percent to AED15,480 from AED15,087 in Q4 2025.

    “The market showed remarkable resilience, delivering near-record transaction volumes in Q1 despite regional geopolitical developments and seasonal factors,” said Ali Ishaq, Head of Residential Agency Abu Dhabi at Savills Middle East.

    March showed a shift in off-plan market composition, with resale off-plan transactions rising from 4 percent to 15 percent of total activity, indicating growing investor-led activity and reassignment transactions. Monthly transaction volumes in March declined 16 percent month-on-month, though reporting lags may not fully capture underlying trends.

    Developer confidence remained strong in Q1, with approximately 20 projects launching around 4,000 units, 80 percent of which were apartments, compared with 3,400 units launched in Q4 2025. Modon Properties launched Tara Park on Al Reem Island in March, demonstrating resilience despite the uncertain backdrop.

    Key completions during the quarter included Fay Al Reeman Phase 2 and The Gate Residence in Masdar City. Q1 2026 accounted for 35 percent of full-year 2025 transaction volumes, underlining the sustained depth of demand across the market.

    Ishaq noted that underlying demand fundamentals remain intact, with supply constraints, limited near-term handovers, and continued investment in major infrastructure and cultural assets supporting a strong medium-term market case.

    The emirate’s broader growth story, supported by ADGM’s expansion, new cultural attractions on Saadiyat Island, and the opening of Disneyland Abu Dhabi, is expected to keep driving wealth migration and prime market demand over the medium term. The UAE’s ultra-wealthy population growth continues to underpin luxury residential demand across the capital.

    Savills cautioned that headline figures should be read with consideration, as transaction data, especially in March, may reflect deals initiated in January and February and may not yet fully capture current market conditions shaped by regional developments.