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Top 5 Best Neighborhoods in Abu Dhabi for Investing in Apartments in 2024
Abu Dhabi is a dynamic and diverse city that offers many opportunities for real estate investors. Whether you are looking for a luxury lifestyle, a cultural experience, or an entertainment hub, you can find it in Abu Dhabi. In this article, Real Estate Group will look at the top 5 best neighborhoods in Abu Dhabi for apartment investment in 2024 and compare the return on investment (ROI) for four different strategies:
Strategy 1: Flipping - buying ready-made apartments, with modern renovation, improvement with individual design, modeling, installation of new plumbing, kitchen and household appliances, connection of comfortable lighting, decoration and resale.
2 strategy: Long-term renting - buying ready-made apartments, with modern repair, improvement with individual design, modeling, installation of new plumbing, kitchen and household appliances, connection of comfortable lighting, decorating and renting them out for a long-term lease for 1 year or more.
Strategy 3: Buying off-plan - buying apartments in residential complexes under construction with subsequent resale for a quick profit.
Strategy 4: Renting off-plan - buying apartments in residential complexes under construction and then renting them out for a period of 1 year or more.
Chapter1. Al Maryah Island: A New Urban Oasis
Al Maryah Island is a vibrant mixed-use development with upscale residential, retail and entertainment options. It is home to the Abu Dhabi Global Market, the world’s newest international financial center, as well as the Rosewood and Four Seasons hotels, the Galleria Mall, and the Cleveland Clinic. Real Estate Group offers investors the chance to own a premium apartment in a prestigious location that is highly sought after by professionals, tourists and expatriates.
Flipping: Al Maryah Island apartments are expected to appreciate in value as the island continues to develop and attract more businesses and visitors. Flipping an apartment after renovating and furnishing it can yield a high profit margin, especially for units with sea views or close to the waterfront.
Long-term renting: Al Maryah Island apartments can generate a stable rental income from tenants who are looking for a convenient and luxurious lifestyle. The average rental price for a one-bedroom apartment in Al Maryah Island is AED 120,000 ($32,697) per year, which translates to a gross rental yield of 6% for an average sale price of AED 2 million ($544,959).
Buying off-plan: Al Maryah Island has several upcoming residential projects, such as Al Maryah Vista, Reflection, and Maryah Plaza, that offer attractive payment plans and discounts for off-plan buyers. Buying an apartment off-plan can allow investors to secure a lower entry price and benefit from the capital appreciation upon completion.
Renting off-plan: Al Maryah Island’s off-plan projects are expected to be completed by 2024 or 2025, which means that investors can rent out their apartments as soon as they receive the handover. Renting an off-plan apartment can provide a higher rental yield than a ready-made apartment, as the rental price is likely to increase with the demand and supply in the market.
1. Real Estate. Al Maryah Island is a mixed-use residential, leisure and commercial development that offers waterfront living with a range of lifestyle amenities. The area has a vibrant lifestyle and is great for businesses too. It is home to two world-class five-star hotels and exceptional luxury boutique restaurants. One can find many high-end brand outlets and beachfront dining facilities here. The area is also one of the top Abu Dhabi freehold areas for buying apartments.
The advantages of living in this neighborhood for different groups are:
Couples: Al Maryah Island is a romantic and elegant destination, where couples can enjoy the views, the culture, and the cuisine. The area has many options for fine dining, shopping, and entertainment. Couples can also relax at the spa, the beach, or the pool of the hotels.
Families with children: Al Maryah Island is a family-friendly and safe community, where families can find spacious and comfortable apartments with parking spaces, security and pools. The area has many facilities and activities for children, such as the Galleria Kids Park, the Galleria Kids Club, the Galleria Cinema, and the Galleria Ice Rink. Families can also access the Cleveland Clinic Abu Dhabi, which offers world-class healthcare services.
Young professionals: Al Maryah Island is a dynamic and diverse city center, where young professionals can find opportunities for career growth, networking, and learning. The area is home to Abu Dhabi Global Market, the world’s newest international financial center, as well as other business towers that accommodate over 40 companies. Young professionals can also enjoy the nightlife, the events, and the sports facilities of the area.
Retirees: Al Maryah Island is a serene and sophisticated setting, where retirees can enjoy a peaceful and luxurious lifestyle. The area has a waterfront pedestrian promenade that offers 360° views of the city. Retirees can also indulge in the cultural and leisure offerings of the area, such as the Louvre Abu Dhabi, the Zayed National Museum, and the Guggenheim Abu Dhabi, which are located on the nearby Saadiyat Island.
2. Population. Al Maryah Island is a relatively new and developing area, so the exact population data is not available. However, according to the official website of the area, Al Maryah Island is expected to accommodate over 50,000 residents and 80,000 professionals by 2030.
3. Business life. Al Maryah Island is the new Central Business District of Abu Dhabi, as per the Plan Abu Dhabi 2030. The area is designed to be a global hub for commerce, innovation, and entrepreneurship. The area hosts Abu Dhabi Global Market, the leading international financial center in the Middle East, Africa, and South Asia region, which offers a range of financial services and products to local and international investors. The area also hosts the Abu Dhabi Securities Exchange, the second-largest stock exchange in the UAE, which provides a platform for trading, listing, and clearing securities. The area also has several business towers, such as Al Sila Tower, Al Maqam Tower, Al Khatem Tower, and Al Sarab Tower, which offer premium office spaces and facilities for various sectors and industries. The area also has a business incubator, Flat6Labs Abu Dhabi, which supports and empowers entrepreneurs and startups.
4. Infrastructure and transportation. Al Maryah Island is a well-connected and accessible area, with easy access to major highways and public transportation. The area is located close to the main island of Abu Dhabi and has a bridge that connects it to Reem Island. The area is also connected to the Abu Dhabi-Dubai highway and has easy access to the airport and the city center. The area has a bus station, a ferry terminal, and a water taxi service that provide convenient and affordable transportation options for residents and visitors. The area also has ample parking spaces, bicycle lanes, and pedestrian walkways that facilitate mobility and sustainability.
5. Cultural life: attractions, museum, exhibitions. Al Maryah Island is a cultural haven that hosts some of the world’s most renowned museums, such as the Louvre Abu Dhabi, the Zayed National Museum, and the Guggenheim Abu Dhabi. These museums are located on the nearby Saadiyat Island, which is a short drive or ferry ride away from Al Maryah Island. The museums showcase a variety of artworks, artifacts, and exhibitions that reflect the history, culture, and diversity of the region and the world. Al Maryah Island also hosts many events and shows throughout the year at the Galleria, the community mall and the center of events.
Some of the interesting events and shows that took place in Al Maryah Island neighborhood in 2022 and 2023 are:
- New Year’s Eve: Al Maryah Island celebrated the New Year’s Eve with a spectacular fireworks display, live music, and entertainment. The Galleria also hosted a winter wonderland theme, with a giant snow globe, a festive market, and a Santa’s grotto.
- Chinese New Year: Al Maryah Island celebrated the Chinese New Year with a cultural extravaganza, featuring traditional lion and dragon dances, lanterns, and red envelopes. The Galleria also hosted a Chinese-themed market, with crafts, food, and games.
- UAE National Day: Al Maryah Island celebrated the UAE National Day with a patriotic display of lights, flags, and decorations. The Galleria also hosted a heritage village, with Emirati crafts, food, and performances.
6. Entertainment venues. Al Maryah Island is the entertainment hub of Abu Dhabi, with attractions such as the Galleria, the community mall that offers a range of shopping, dining, and entertainment options. The Galleria has over 400 retail outlets, including high-end brand stores, such as Dior, Gucci, and Prada, as well as popular fashion stores, such as Zara, H&M, and Gap. The Galleria also has over 100 dining outlets, including fine dining restaurants, such as Zuma, Coya, and Nusr-Et, as well as casual cafes, such as Starbucks, Tim Hortons, and Paul. The Galleria also has a cinema, an ice rink, a kids park, and a kids club, that offer fun and entertainment for all ages. Al Maryah Island also has two world-class five-star hotels, the Rosewood and the Four Seasons, that offer luxurious accommodation, spa, and fitness facilities, as well as waterfront bars, lounges, and clubs, such as Glo, Aqua, and Eclipse.
7. Universities. Al Maryah Island does not have any universities within its area, but it is close to some of the leading universities in Abu Dhabi, such as New York University Abu Dhabi, Sorbonne University Abu Dhabi, and Khalifa University, which are located on the nearby Saadiyat Island and Reem Island. These universities offer a range of academic programs, research opportunities, and cultural activities for students and faculty .
8. Schools. Al Maryah Island does not have any schools within its area, but it is close to some of the best schools in Abu Dhabi, such as Cranleigh Abu Dhabi, Repton Abu Dhabi, and GEMS World Academy, which are located on the nearby Saadiyat Island and Reem Island. These schools offer a high-quality education, following the British, American, or International Baccalaureate curricula, for students from nursery to secondary levels .
9. Kindergartens. Al Maryah Island does not have any kindergartens within its area, but it is close to some of the reputable kindergartens in Abu Dhabi, such as Bright Beginnings Nursery, Redwood Montessori Nursery, and Mosaic Nursery, which are located on the nearby Reem Island. These kindergartens offer a nurturing and stimulating environment, following the Early Years Foundation Stage, Montessori, or Reggio Emilia approaches, for children from 6 months to 4 years old .
10. Stores. Al Maryah Island has a variety of stores that cater to the needs and preferences of the residents and visitors. The Galleria, the community mall, has a range of stores, such as Waitrose, Virgin Megastore, Sephora, Bath and Body Works, and Apple, that offer groceries, electronics, cosmetics, and accessories. The Galleria also has a department store, Debenhams, that offers fashion, home, and beauty products. Al Maryah Island also has a pharmacy, Aster Pharmacy, that offers medicines, supplements, and health products.
11. Restaurants and cafes. Al Maryah Island has a plethora of restaurants and cafes that offer a variety of cuisines and experiences. The Galleria, the community mall, has over 100 dining outlets, ranging from fine dining restaurants, such as Zuma, Coya, and Nusr-Et, that offer Japanese, Peruvian, and Turkish cuisines, respectively, to casual cafes, such as Starbucks, Tim Hortons, and Paul, that offer coffee, snacks, and pastries. The Galleria also has a food court, Central Kitchens, that offers a range of fast food and international options, such as McDonald’s, KFC, Pizza Hut, Panda Express, and Man’oushe Street. Al Maryah Island also has two world-class five-star hotels, the Rosewood and the Four Seasons, that offer luxurious accommodation, spa, and fitness facilities, as well as waterfront bars, lounges, and clubs, such as Glo, Aqua, and Eclipse.
12. Hospitals and clinics. Al Maryah Island has one of the best hospitals and clinics in Abu Dhabi, the Cleveland Clinic Abu Dhabi, which is a branch of the US-based Cleveland Clinic. The hospital offers a range of medical services and specialties, such as cardiology, neurology, oncology, and surgery. The hospital also has a wellness center, a pharmacy, and a laboratory. The clinic also offers telemedicine and home care services for patients who prefer to receive care remotely or at home.
Want to Buy Real Estate in Abu Dhabi? Write a Request in WhatsApp and Real Estate Group Will Find the Best Options for You. Everyone Buys With Us!
Real Estate Group's 5-year forecast for real estate prices on Al Maryah Island.
The average price per square foot for apartments in Al Maryah Island increased by 2.5% from 2022 to 2023, reaching AED 1,800 ($490). The projected price growth for the next five years is 3.5% annually, which means that by 2028, the average price per square foot will be AED 2,150 ($586). An example of an apartment complex in this area is the Al Maryah Vista, which offers studios, one-bedroom, and two-bedroom apartments, with sizes ranging from 400 to 1,200 sq. ft., and prices starting from AED 720,000 ($196,185).
Don't miss the opportunity to invest in real estate in Al Maryah Island, a premium mixed-use development offering luxury residential, retail and commercial properties and become a part of Abu Dhabi's future. Leave a request to Real Estate Group today on WhatsApp and let us help you find your dream property on Al Maryah Island.
