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About Siadah company
Siadah Development is a construction company based the Middle East, which is headquartered in Khalifa City, Abu Dhabi. The company was founded in 2018 and specializes in residential property in the capital of the United Arab Emirates.
The main concept of the company is to strive towards the creation of a healthy environment and sustainable communities for future generations, in which consumer needs and its customer focus are used as the basis for the projects’ success. The developer also emphasizes its caring attitude to the environment and does everything to ensure that investors and end purchasers will be satisfied with the results. The key factors include the selection of optimal land for the projects’ construction and development as well as the use of innovative materials and technology. For example, Al Mahra Residence complex uses solar energy consumption systems and terrace designs that provide natural shading.
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Key projects of developer
Currently, only two projects from Siadah Development are presented in the real estate market: Al Mahra Residence and Yas Beach Residence.
Al Mahra Residence
Al Mahra Residence is a complex of residences with world-class amenities, that is situated in Masdar City district. The construction began in 2019 with 30% of the real estate having sold out by the end of the third quarter of the same year.
According to Bayut, in April 2021 the project was named ‘The Development of the Month’ and most investor interest in the property arose due to:
- Excellent location. The area is situated within walking distance of a large number of landmarks and important sites. Abu Dhabi International Airport is a five minute drive away, Yas Island - ten minutes’ away and Saadiyat Island - a thirty minute drive away.
- 100% ownership opportunity. Masdar City, where Al Mahra Residence is located, has the Masdar City Free Zone, which allows foreign investors to run a business with zero taxation and no duty charges.
- Innovative approach. According to the project of development, the complex is equipped with solar panels that reduces energy consumption by more than 40%. The development is expected to make a significant contribution to the Masdar City ecosystem.
- Competitive prices. The starting price for apartments constitutes AED 450,000 (about USD 12,000 or RUB 9,000,000). Expected average return ranges from 6% for 3-bedroom apartments to 10% for studios.
The complex is valued at AED 250,000,000 (just over USD 68,000,000) and includes two 8-floor buildings with 300 residential units ranging from studios to 3-bedroom apartments with ample terraces. All residents will have access to a variety of amenities, including a prayer room, service elevators, children’s playground, a gym, swimming pool, walking paths, running and cycle tracks as well as parking. The complex will be equipped with a central air conditioning system and video surveillance systems. The date of the project’s completion is planned for the third quarter of 2021.
Yas Beach Residence
In June 2019, Siadah entered into a contract with Miral to acquire two plots of land on Yas Island for the construction of residential complexes. According to the data for the first quarter of 2021, Yas Island is one of the five best places in Abu Dhabi to rent accommodation with a net return on investment of at least 6%.
The construction of the Yas Beach Residence complex, began in the first quarter of 2020, and the date of handover is scheduled for the end of 2022. The estimated cost of investment for premium residences in the complex is AED 450,000,000 (about USD 122,000,000). According to the master plan, Yas Beach Residence consists of eleven storeys and includes studios, apartments with 1-3 bedrooms and duplexes. This type of property is aimed at both investors and end purchasers. The residential complex is also expected to be in high demand among tourists as well as specialists and business individuals seeking to be in the center of the business and entertainment areas in Abu Dhabi.
The starting price of apartments in Yas Beach Residence is AED 565,000 (about USD 154,000 or RUB 11,300,000). Expected average annual rental income constitutes up to 11% for studios and one bedroom apartments and about 6% for apartments with 2-3 bedrooms.