Abu Dhabi’s new residential complex at Azure Al-Reem has welcomed its first residents. Reem Island is one of the fastest-growing neighborhoods in Abu Dhabi, with the unique payment options offered by Azure Al-Reem’s project developer Al-Masaood Developments, proving popular with young people trying to get a foothold on the property ladder.
Salah Al-Jneibi is a UAE national who works in the banking sector. Al-Jneibi said the convenience of having a payment plan was handy for his cash flow.
“I am a young family man who was looking at property for the benefit of my family. During my time researching a new property, I couldn’t find competitors who were offering the same kind of payment plan as Azure Al-Reem. You have to look for many ways to invest and save, having assets and a place you can call home. I have always wanted to invest in properties but the down payments were difficult. This payment plan was very suitable for me and it is the first step in my end goal to own multiple properties. I can now proudly say I own property before I hit 30,” he said.
When asked about the features of the property, Al-Jneibi said one thing really stood out.
“The view from the balcony; that was all I needed to know, this was an apartment I wanted to have. My wife loves the ocean and water, and was quite excited about it as well when she saw the view from the balcony and windows.”
Azure Al-Reem has picturesque 360-degree views of Reem Island, Louvre Abu Dhabi and the surrounding sea.
Real estate advisers Savills are the exclusive agents of the project. The payment plans enable people able to move in as homeowners on deposits of just 50,000 dirhams ($13,610) for a one bedroom or 70,000 dirhams for a two bedroom apartment.
Ziad Abou Nasr, director of Al-Masaood Developments, said: “We spent a number of years doing the maths, calculating the ways in which we could offer accessible home ownership with lower deposits. It was important to us as a proud Abu Dhabi company to empower young people and through these low-entry cost schemes it becomes easier for people to enter the property market.”
