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Tag: residential development

  • Modon’s Tara Park Sells Out with AED2 Billion in Sales

    Modon has completed the sell-out of Tara Park on Reem Island, marking a significant milestone as the 834-apartment development generated approximately AED2 billion in sales. The achievement reflects sustained investor confidence in Abu Dhabi’s property sector as the emirate solidifies its position as a global safe-haven investment destination.

    “Tara Park further validates Modon’s disciplined, market-driven approach, connecting a prime location and thoughtful placemaking to generate sustainable urban growth and long-term value. We continue to see strong demand across the market, which speaks to the confidence that local and international buyers continue to place in Abu Dhabi, particularly for projects where clear attention to quality of life supports future investment potential,” said Bill O’Regan, Group CEO of Modon Holding.

    International Buyers Drive 60% of Demand

    The development attracted significant international interest, with approximately 60% of buyers originating from overseas markets. Russia, the United Kingdom, and India represented the leading sources of demand, demonstrating the project’s broad global appeal.

    Notably, 85% of buyers were first-time investors with Modon, underscoring both the strength of the development’s positioning and its success in expanding the developer’s international investor base.

    “The sell-out Tara Park sends a clear signal. Buyers are not hesitating. Buyers are making considered, long-term decisions. Tara Park was designed with clear buyer priorities and needs in mind, and the market response has validated that approach entirely,” said Ibrahim Al Maghribi, CEO of Modon Real Estate.

    Premium Location with Integrated Amenities

    Tara Park comprises six residential towers offering one-, two-, and three-bedroom apartments. The towers are connected by an active podium that provides residents with access to a wide range of amenities and direct connectivity to Reem Mall.

    The development’s strategic location offers proximity to Fay Park, Sorbonne University Abu Dhabi, and Repton School, alongside easy access to Abu Dhabi Global Market (ADGM), The Galleria Mall, and the wider city center.

    The sell-out coincides with record-breaking performance across Abu Dhabi’s residential market, which delivered its second-strongest quarter on record in Q1 2026. Transaction volumes in Abu Dhabi City exceeded 7,200 deals, just below the all-time peak of 7,600 recorded in Q4 2025, according to Savills’ latest Market in Minutes report.

    As ultra-high-net-worth individuals continue to increase across the UAE, developments like Tara Park demonstrate sustained appetite for quality residential projects in prime locations. The capital’s momentum reflects broader confidence in the UAE’s economic resilience and long-term growth trajectory.

  • Modon Unveils Final Phase of Tara Park on Reem Island

    Modon Unveils Final Phase of Tara Park on Reem Island

    The final phase of Tara Park marks the completion of Modon’s residential project on one of Abu Dhabi’s most connected islands. Strategically positioned near two main access bridges, the development offers direct connectivity to Abu Dhabi Global Market (ADGM), major retail destinations, and leading educational institutions.

    Modon has structured the payment plan to broaden access: buyers pay 5% in 2026, followed by 10% annually from 2027 to 2029, with the remaining 60% due on completion. The approach is designed to appeal to first-time buyers and long-term investors seeking entry into Abu Dhabi’s freehold market.

    The project comprises six residential towers connected by a shared podium housing nurseries, co-working spaces, and retail outlets. Upon completion, Tara Park will deliver 834 apartments ranging from one- to three-bedroom units, all available to buyers of any nationality.

    Wellness-Focused Design

    Residents will have access to a 527-metre running and walking track, fitness centres, yoga studios, swimming pools, and padel courts. The amenities are intended to support active lifestyles while fostering interaction within the community.

    The interconnected podium acts as a social hub, creating a self-contained environment that balances convenience with long-term liveability. The design reflects a broader shift in Abu Dhabi toward integrated residential communities that combine connectivity, comfort, and investment value.

    The launch follows strong demand for the initial phases and aligns with sustained momentum across Abu Dhabi’s property market. Abu Dhabi’s Q1 2026 property sales surged 160%, underscoring the capital’s appeal to both local and international buyers.

    Tara Park’s positioning on Reem Island reinforces its status as a central residential address in a city that continues to expand its housing infrastructure. The final phase delivery represents the culmination of a project designed for diverse demographics, including young professionals, families, and investors seeking quality residential assets in the UAE capital.

  • Wasl Group Plans to Double Affordable Housing Portfolio by 2031

    Wasl Group Plans to Double Affordable Housing Portfolio by 2031

    Wasl Group currently manages one of Dubai’s largest affordable housing portfolios, comprising approximately 45,000 residential units across the emirate. These communities accommodate nearly 180,000 residents, over 90% of whom are families, positioning Wasl as a central player in supporting stable, community-driven living.

    The expansion plan follows a Memorandum of Understanding signed in May 2025 with the Roads and Transport Authority and Dubai Municipality. The coordinated effort will span a total planned area of 1.46 million square metres, with delivery phased over multiple stages to ensure infrastructure readiness and long-term community viability.

    Wasl’s current developments include Wasl Village in Al Qusais, which comprises about 6,200 residential units ranging from studios to three-bedroom apartments, and Wasl Green Park, offering around 2,527 units set within landscaped surroundings. Both projects exemplify the integration of affordability with quality urban living standards.

    The initiative directly supports the Dubai 2040 Urban Master Plan, which calls for a balanced housing ecosystem encompassing luxury, mid-income, and affordable segments. In August 2025, Dubai’s population crossed 4 million, with nearly 567 new residents settling in the emirate daily.

    The programme additionally advances the Dubai Economic Agenda D33, supporting workforce stability and economic productivity by diversifying housing supply amid the city’s rapidly growing population. With property market momentum continuing into 2026, the focus on affordable housing addresses a critical segment of market demand.

    Wasl’s developments are designed around connectivity, community infrastructure, greenery, and access to premium amenities, reflecting a commitment that quality living should be accessible across all income levels. The phased delivery approach aims to ensure infrastructure readiness and sustainable community development as the emirate’s residential market evolves.