aldar properties

List of Developers in Abu Dhabi, UAE

Metropolitan Capital Real Estate is a full-cycle real estate agency operating in the Abu Dhabi market since 2018. The company is part of the Metropolitan Group, which was founded in 2008 and provides a full range of services in the field of real estate – from legal advice to resolving all issues related to buying or renting residential and commercial properties in the UAE and Austria.

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Importance of Choosing the Right Developer

Buying off-plan properties allows you to save 10-30% compared to buying a finished home, but it always involves risks. Now the authorities of Dubai and Abu Dhabi strictly regulate the activities of developers, so investors are protected. In the event of a stalled project, developers will not become defrauded equity holders and will be able to return the invested funds to buyers. Maximum security is ensured for property buyers in Dubai, where the relevant legislation is highly developed. Off-plan projects in this emirate are closely monitored by the Real Estate Regulatory Agency (RERA), a special division of the Dubai Land Department (DLD).

In Abu Dhabi, the Department of Municipal Affairs (DMA) is now performing similar functions. Until 2015, there were serious gaps in the legislation of the UAE capital regarding the sale of off-plan developments and protecting the interests of investors. For example, some of the projects that were implemented in Abu Dhabi in 2007-2008 were either never completed or were delivered with a delay of several years. But with the adoption of Law No. 3 of 2015 on the regulation of the real estate sector in Abu Dhabi, the situation has changed drastically. The new law clearly sets out the conditions for developers, including the provision of a development plan, obtaining a building permit from the DMA, as well as the mandatory opening of escrow accounts, similar to Dubai. Investors' funds are credited to these accounts, and the developer gains access to them only upon entering a certain stage of construction.

However, even despite all government measures to protect investors, certain risks still remain. These include the following probable situations:

  • The project will be built with a significant delay or will become stalled. According to the propertyfinder.ae portal, more than half of developments launched in the UAE since 2008 were completed at least a year later than the announced deadline. Delivery of real estate on time is especially important for those who rent residential properties: extension of construction for at least a few months automatically means additional rental costs. In turn, those who buy real estate off-plan for subsequent lease, lose the profit that they could have received if the construction was completed on time. The same applies to canceled projects; your investment will be returned to you, but you will lose valuable time and energy.
  • Lower quality of the finished property than originally stated. For example, the interior design or the provided amenities may not match the information previously mentioned in the brochure. It is also possible that the property area will be slightly smaller than promised by the developer.

The best way to protect yourself from these risks is to choose the right developer. As a rule, reliable companies, who want to expand their business further, value their reputation. They understand that their image on the market directly depends on the timing of the project and on the quality of the completed development, which means a surge in sales which then results in profit.
LIST OF DEVELOPERS IN ABU DHABI, UAE

How to Choose the Right Developer

Dozens of developers work in the UAE market, including Abu Dhabi, and it can be difficult to choose the best option. We have compiled a list of basic tips for choosing a reliable company to invest in:

  1. Research all the information about the developer. The most complete data can be obtained with the help of a real estate agent who is well guided and knowledgeable of the market and, by virtue of their profession, owns information that is not always known to the wider public. But you can do the research yourself. First of all, check out the developer's official website and social media accounts, including customer reviews and comments. Find out how long the company has been in the market, how many projects it has already implemented, what awards it has received and who are its partners. Also on the official website you can find out about promotions and special offers from the developer. It is also useful to read the discussions on internet forums regarding real estate in the region- this way you can identify shortcomings in the company's work that customers are unhappy with.
  2. Analyze the developer's projects, both off-plan and completed ones. Look for news on the internet about delays in their construction, as well as comments and feedback from investors. If the company operates in Dubai, alongside Abu Dhabi, you can check out the DLD website and download the Dubai REST mobile application, which publishes the most relevant information about construction in the emirate (including the start date of the project, the announced date of completion and the current stage of construction). This will help you to get a general idea of ​​the developer's work.
  3. Visit one or more of the developer's completed projects with a guided tour, which can be arranged through a real estate agency. You will be able to see the layout, room design, services and amenities in the building. You can compare them with information from a brochure released in the early stages of the project and draw conclusions about the quality of the developer's work. You can also ask the agent to arrange a meeting with one of the property owners from this developer to ask them any questions you may have.
  4. Pricing policy and payment plans. When selling off-plan properties, most developers offer discounted prices, convenient payment plans and other favorable terms. Often several developers sell similar properties in the same area, but the cost and payment scheme may differ. Therefore, it is advisable to study all the proposals in order to choose the most profitable one. But there is also a downside: the most popular developers can offer a higher price, but at the same time your risks of obtaining property with a delay or of low quality will be reduced to a minimum. To choose the best option of excellent quality and not overpay as well, it is best to use the help of a broker who will help to assess all the benefits and risks.

Leading Developers in the Abu Dhabi Real Estate Market

Metropolitan Capital Real Estate cooperates only with reliable and well-known Abu Dhabi developers who successfully operate in the market and have earned an impeccable reputation. These include real estate leaders such as Aldar Properties, IMKAN and Reportage Properties.

Aldar Properties

Aldar Properties is a leading developer in Abu Dhabi that has been operating in the market since 2005 and has made a significant contribution to the urban development and the appearance of the capital of the UAE. In 2013, the company merged with one of the largest developers in the UAE, Sorouh Real Estate. Thanks to its iconic projects, Aldar Properties is today one of the most famous developers not only in the UAE, but in the entire Middle East. The company has more than 26,000 residential residences, nearly 2,800 hotel rooms, 34.2 million sq.ft. of office space and 52.2 million sq.ft. of retail space.

Among some of the most famous larger projects by Aldar Properties are developments such as Al Raha Beach, Al Reem Island, Yas Island and Saadiyat Island.

Spanning across an area of 55.9 million sq.ft. Al Raha Beach features 11 residential communities, the most famous of which are Al Bandar, Al Zeina and Al Muneera. The area also houses the 5-star Al Raha Beach Hotel and the iconic Aldar HQ skyscraper, the first circular building of its kind in the Middle East. The HQ building houses the developer's headquarters.

One of the most popular locations in Abu Dhabi is the 269 million sq.ft. Yas Island, the development of which started in 2006. Here you will find upscale real estate, luxury hotels and shops and plenty of entertainment options from Aldar Properties. Among them is the famous amusement park with the world's fastest roller coaster, Ferrari World with an area of ​​more than 1 million sq.ft. Yas Marina Formula 1 racing track, Yas Waterworld water park and Yas Mall, the largest shopping center in Abu Dhabi.

The developer's expansive portfolio also includes Saadiyat Island which has an area of ​​more than 29 million sq.ft. This is the cultural center of Abu Dhabi, in which, according to the master plan, 8 museums will be opened in the future. The Louvre Abu Dhabi art museum with masterpieces of famous painters from all over the world is already open, while the Guggenheim Abu Dhabi Museum of Contemporary Art and the Zayed National Museum are currently under development. Saadiyat Island is also home to 5-star hotels and luxury residential communities, restaurants, world-class educational institutions, beach clubs and a golf course.

Al Reem Island is a natural mixed-use development with residential, commercial and retail units. Among the most popular residential complexes by Aldar Properties are Gate Towers, The Bridges, Reflection and Shams Meera.

In addition to the construction and sale of real estate, Aldar is also engaged in investment and educational services (Aldar Education).

IMKAN

The international company IMKAN was established in Abu Dhabi in 2017 and is part of the Abu Dhabi Capital Group (ADCG) holding. Despite its newcomer status, the developer's portfolio already includes 26 residential, retail, commercial and hospitality projects, spanning across 3 continents in 7 countries (UAE, Morocco, Seychelles, Montenegro, Bahrain, Egypt and Sri Lanka).

In its projects, IMKAN uses the latest developments, smart technologies and a creative approach. In Abu Dhabi, the developer has launched several exclusive projects. Among them there is the Pixel community on the island of Al Reem, which includes 7 residential towers, several hospitals, educational institutions, cafes, laundries and other infrastructure. Moreover, the luxury community of AlJurf of 40.9 million sq.ft. located between the capital of the UAE and Dubai, is also under construction. The master plan includes the construction of premium villas surrounded by green gardens, as well as a developed infrastructure. There will also be a clinic, health center, private beaches, marina, boutiques, hotel, fitness club, restaurants and shops.

Another mixed-use project of the developer is the Makers District on the island of Al Reem. This 1.9 million sq.ft. area, which, according to the developer, should attract creatives of all kinds, will house a beach, a boutique hotel, restaurants, shopping areas, cafes and bars, coworking spaces and 3,700 residential units. In particular, the art space The-Artery is being built there with an event space of over 45 thousand sq.ft. with offices, a shopping area and a parking lot for 650 cars.

As well as the above, IMKAN is responsible for the development of Sheikha Fatima Park which covers a total area of 495 thousand sq.ft.

Reportage Properties

Reportage Properties was founded in Abu Dhabi in 2014 by construction specialists with over 30 years of experience. To date, it has become one of the largest private developers in the UAE and has also successfully entered the Egyptian market. The company is currently developing projects in Abu Dhabi, Dubai and Cairo.

Reportage Properties specializes in residential construction in various price segments, although its portfolio also includes commercial properties. The developer's priorities are creativity, environmental friendliness, high quality real estate and on-time handover.

The Leonardo Residence in the ecologically clean area of ​​Abu Dhabi Masdar City and is one of the most popular off-plan projects by Reportage Properties. This 6-storey building with 175 apartments is located on the central boulevard of the district, next to extensive parkland.

In the same area, there are two more popular projects from the developer These are Oasis Residence One, which has received a high rating (3 pearls) in accordance with the sustainable development programme of Abu Dhabi Estidama, and Oasis Residence Two. In addition, a residential complex of two Diva towers is currently being built on Yas Island.

Summary

  1. Full-cycle real estate agency Metropolitan Capital Real Estate was established in Abu Dhabi in 2018 and is part of the Metropolitan Group.
  2. Metropolitan Capital Real Estate works with clients from all over the world and provides a full range of services related to the purchase, sale and rental of real estate in Abu Dhabi.
  3. Despite its short history, Metropolitan Capital Real Estate has gained a leading position in the real estate market of the emirate and cooperates with leading developers in Abu Dhabi, including Aldar Properties, IMKAN and Reportage Properties.
  4. When buying off-plan real estate, it is very important to choose a reliable developer in order to avoid the risk of a stalled project, handover delays, as well as obtaining a property of low quality.
  5. To make the right choice from the huge number of offers from developers, it is necessary to conduct an in-depth analysis search. The best option is to use the services of a professional real estate agent who has the most complete information about developers and the market situation.
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