Abu Dhabi, UAE — A three-bedroom penthouse at Nobu Residences on Saadiyat Island was sold for a record AED137 million ($37.30 million) by real estate developer Aldar.
Aldar said the sale represents the highest price per square meter achieved in the emirate, at more than AED96,000 per sqm.
The record sale of the Nobu Residences Abu Dhabi penthouse follows a recently sold four-bed duplex sky villa at the same development for AED130 million.
Nobu Residences Abu Dhabi is set to become one of the first branded residences for the globally renowned Nobu hospitality brand in the Middle East. The community integrates Nobu’s Japanese design and hospitality with contemporary luxuries.
It is located within walking distance of Saadiyat Grove and Mamsha Al Saadiyat, offering a waterfront promenade with more than 60,000 sqm of shopping, dining, and hospitality experiences.
Talal Al Dhiyebi, Group Chief Executive Officer at Aldar, said, “This milestone transaction at Nobu Residences not only sets a new benchmark for residential property in Abu Dhabi but also underscores the maturity of the real estate market.”
“Year on year, we are seeing healthy increases in both the volume and value of homes purchased, driven by supportive government policies and initiatives that have increased the attractiveness of Abu Dhabi as a place where people want to live and see real opportunity for investment,” he said.
The emirate recorded real estate deals worth AED 5 billion ($1.36 billion) in the first month of 2024, comprising 1,386 transactions of sales and mortgages on various types of real estate units.
According to the “DARI” platform, affiliated with the Department of Municipalities and Transport in Abu Dhabi, the value of real estate mortgages in the emirate reached about AED2.6 billion through registering 635 mortgage deals.