(MENAFN - Emirates News Agency (WAM)) Tourism Development '&' Investment Company (TDIC), master developer of Saadiyat in Abu Dhabi, today announced that it has started the handover of Saadiyat Beach Villas phase one to their owners, and residents have now begun to move in.
The exclusive residential community, which is located in the Saadiyat Beach district of the island, consists of high-end homes that are available in sizes ranging from three to six bedrooms. The first phase of the development, which consists of 254 villas, was launched in 2009 and completely sold out; due to this success, a second batch of 90 villas was released in November 2011 to meet demand. The handover of both phases are set to be completed by quarter 4 of 2012.
The demand for this luxury residential community is attributed to the high-quality finishes and attention to detail that is found in each villa. The villas come in three distinctive styles - Arabian, Mediterranean and Contemporary - and offer high-quality finishes such as marble kitchen surfaces, intricate mosaic tiles and bold geometric windows. The villas have been designed to distinctive standards to reflect the requirements of discerning clients, and are available in a range of sizes, catering to a variety of individuals' needs.
The variety of financing options that TDIC has carefully developed for prospective homeowners has also contributed to the success of the villas, as the company partnered with a number of leading banks to offer attractive financing options, including the exclusive 100 per cent mortgage offer in partnership with Abu Dhabi Commercial Bank (ADCB). Also previously the villas were available for sales only and due to popular demand TDIC has now added competitive lease option and lease-to-own option to Saadiyat Beach Villas. The leasing rate for Saadiyat Beach Villas starts at AED256,500, while lease-to-own rates start from AED310,500.
Ahmed Al Fahim, Executive Director of Marketing, Communications, Sales '&' Leasing at TDIC, said: "We would like to warmly welcome the first Saadiyat Beach Villas residents to their new homes. Each property has been carefully developed and finished to remarkable standards, and the handover of the first villas is an extremely important milestone. We are delighted with the demand we have received for these villas; we attribute this success not only to the confidence TDIC's clients have in our residential communities, but also due to the fact these properties offer a smart investment opportunity." The success of Saadiyat Beach Villas community is also due to the exclusive lifestyle that the island offers to its residents.
In 2011, Saadiyat came to life, as various exciting hospitality and cultural projects launched, helping to secure the island's appeal as an inviting destination for residents and visitors. In November 2011, TDIC opened the St. Regis Saadiyat Island Resort, Abu Dhabi - a stunning 377-room hotel, which features an impressive spa and a wide variety of fine dining restaurants. Park Hyatt Abu Dhabi Hotel and Villas, developed by Abu Dhabi National Hotels company (ADNH), also opened its doors on the island, offering 270 rooms, a multi-functional event facility, a spa, and a number of restaurants. The island's new offerings, together with the already opened Monte-Carlo Beach Club, Saadiyat and Saadiyat Beach Golf Club, are set on one of the most pristine beaches the UAE has to offer, making Saadiyat a very appealing residential address.
Saadiyat Beach Villas is also in close proximity to The Collection at The St. Regis Saadiyat Island Resort - an exclusive retail complex that consists of a mix of 22 restaurants and retail outlets. Everyday shopping needs will be catered for with a planned supermarket, as well as other conveniences such as a pharmacy, hairdressing and nail salon, a bank and gift shops. The complex will be open from Q3 2012.
TDIC has also revealed plans to introduce a number of important community services and developments to serve residents of Saadiyat Beach Villas. These include a purpose-built nursery, which will be operated by an internationally-recognised academic operator and will accommodate up to 120 children. A retail centre offering day-to-day conveniences is also set to be developed, which will feature a grocery store, pharmacy, hair '&' nail salon and coffee shop. Other amenities include a mosque, ladies beach club and international school. The developments will be completed by 2013.