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Abu Dhabi-based developer Nine Yards, a joint venture between Ethmar International Holding and Al Nahda International Holding, launched on Monday a two billion UAE dirhams ($544.53 million) waterfront project at Yas Bay on Yas Island.
Sea La Vie, a luxury residential development, will offer one to four-bedroom apartments, lofts, townhouses, duplexes and penthouses.
No other details were given on the project and construction timelines.
Nine Yards aims to positively contribute to Abu Dhabi’s long-term development as a sustainable, diversified, globally-integrated economy, said CEO Ahmed Selet.
He added that the real estate market in Abu Dhabi and the UAE is witnessing a huge increase in demand from local, regional and international buyers and investors, with luxury-minded customers from around the world keen to buy properties.
The Department of Municipalities and Transport (DMT) has revealed that Abu Dhabi’s real estate market recorded 19,033 transactions worth AED77.6 billion in 2022, according to the Department of Municipalities and Transport.
Yas Island topped the list with transactions worth AED 4.2 billion, followed by Al Reem Island with transactions worth AED 3.4 billion.
(Writing by P Deol; Editing by Anoop Menon)
