By Andy Sambidge
Prices for second phase of luxury property development will start at $1.33m
Abu Dhabi's Tourism Development and Investment Company (TDIC) said on Wednesday it had launched the second phase of its first residential community on Saadiyat Island.
The master developer of Saadiyat said phase two of Saadiyat Beach Villas, which consists of 90 properties, will be delivered in the fourth quarter of 2012.
These new homes are available in sizes ranging from three to six bedrooms, and prices start at AED4.9m ($1.33m), TDIC said in a statement.
Thes new phase is being released due to the demand the first villas of the development received, which were launched in 2009 and have been completely sold, the company added.
Saadiyat Beach Villas is Saadiyat's first residential community, and features high-end, luxury homes and a private beach exclusively reserved for residents.
The first phase of the community is nearing completion, and handover will start soon, TDIC said.
Ahmed Al Fahim, executive director of marketing, sales & leasing, TDIC, said: "Following a highly successful launch of the first phase of Saadiyat Beach Villas, through which we sold all 255 homes, and due to the continued interest we are receiving from potential buyers, we have decided to release a second batch of these premium properties."
The development is located in the Saadiyat Beach district, which will be the island's hospitality hotspot and will feature a collection of international five-star resorts, and sports and leisure facilities.
These include the region's first championship beachfront golf course, the Saadiyat Beach Golf Club, which opened in January 2010; and the world's first Monte-Carlo Beach Club outside of Monaco, Monte-Carlo Beach Club, Saadiyat, which opened in September.