TDIC starts handover of villas at third phase of Saadiyat Beach Villas project

The Tourism Development and Investment Company (TDIC), the master developer behind Saadiyat Island, on Sunday said it had started to hand over 77 villas at the third phase of its Saadiyat Beach Villas project.

The four-bedroom and five-bedroom villas, which range between 449 and 542 square metres in size, were first put up for sale as off-plan investments at Cityscape Abu Dhabi in April 2013, where they were priced between Dh6 million and Dh8m.

The TDIC said it was handing over the villas to buyers in phases and that it expected to complete that by the end of next month.

The completion of the third phase brings the total number of villas in the TDIC’s Saadiyat Beach Villas complex to 428.

According to the latest report from Asteco, Saadiyat Beach Villas remain some of the most expensive in the capital.

It found that prices for villas on Saadiyat Island, the Abu Dhabi island earmarked for the city’s cultural projects such as the Louvre Museum, stood at Dh5.47m for three-bedroom villas, Dh6.1m for four-bedroom villas and Dh10.75m for five-bedroom villas.

Prices for villas in the second most expensive villa complex in Abu Dhabi, Golf Gardens, stood at Dh3.4m for a three-bedroom home, Dh4.4m for a four-bedroom villa and Dh5.2m for a five-bedroom villa.

Annual rents for villas on Saadiyat Island ranged between Dh290,000 and Dh300,000 for a three-bedroom villa, between Dh310,000 and Dh350,000 for a four-bedroom villa, and between Dh350,000 and Dh850,000 for a five-bedroom home.