A one-bedroom unit at the new Fahid Island development in Abu Dhabi is priced from Dh3.5 million ($953,029), according to developer Aldar Properties, amid soaring property demand.
The massive project, which has a gross development value of Dh40 billion, will be built in phases. The first residential development – Fahid Beach Residences, with seven buildings – is expected to be complete by 2029.
Spread across 2.7 million square metres, with an 11km coastline, Fahid Island will be built between Yas Island and Saadiyat Island. It will have amenities including running tracks and cycling routes, with 30 per cent of the area dedicated to natural spaces.
Fahid Island is “little bit more than just residential", Jonathan Emery, chief executive of Aldar Development, said during the launch of the project.
“This is sort of a destinational street. The beach is designed to draw, not just residents, but other people to come and enjoy that amenity. The quality of the school, which will shortly be announced, will also say this is not a normal residential [project] and there's something special going on here.”
The island’s waterfront promenade will have a mix of retail, dining and art experiences. Coral Drive, the island’s boutique retail boulevard, will have outlets, concept stores, art galleries, a ballet school, cafes and public artworks. Kite surfing, paddle boarding, illuminated night swimming, and volleyball will also available to residents of the island.
“We would expect international interest in this location. I think it's got many ingredients that people would look to as a place they'd want to live. It’s incredibly attractive to people from all over the world,” Mr Emery said.
“We also have a lot of local customers who have been with us loyally from the start, and they know Abu Dhabi well, and they've been like, 'When is Fahid coming?' Now they've seen it, people are very excited.”
Residential property sale prices in Abu Dhabi rose by 11 per cent annually last year amid higher demand and a supply shortage, according to a March report by real estate company Cushman & Wakefield Core.
The Abu Dhabi Real Estate Centre reported that total transaction value in the emirate grew by 34.5 per cent to Dh25.3 billion across 6,896 deals in the first quarter of 2025, compared with Dh18.8 billion from 5,773 transactions in the same period of 2024.
Off-plan sales in April across the UAE capital were up 75 per cent month-on-month at Dh804 million, driven by an increase in activity on Saadiyat Island and Al Jubail Island, EFG Hermes said last week. Aldar Properties accounted for the largest off-plan market share, contributing 70 per cent of off-plan activity in April.
The announcement of a Disneyland Abu Dhabi theme park on Yas Island has further supported the property market. “Disney clearly had an enormous positive impact on the UAE and Abu Dhabi, primarily. It's just increased people's understanding of Abu Dhabi," Mr Emery said.
“There are many things that have put us on the map, but that is another thing that has really raised the profile. And anything that raises the profile supports Abu Dhabi, investment in Abu Dhabi. We've certainly seen an uptick in interest in investing, in moving here and investing in real estate since Disney.”
