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Abu Dhabi to get large number of housing units during 2016

Corniche Saraya project will deliver 8,000 residences in second half of year

The year 2016 will witness the entry of a large number of housing units to Abu Dhabi’s real estate market compared with the past five years, said a report.

The real estate company Skyline indicated in its report that the number of new units, to be delivered by key developers in Abu Dhabi during 2016, ranges between 12,000 and 15,000 units – compared with roughly 7,000 housing units that entered the market during 2014 and approximately 10,000 units in 2015.

The report confirmed that the Corniche topped the residential real estate projects nearing completion, stressing that the Corniche Saraya project, which includes 20 towers, will deliver 8,000 housing units to the market during the second half of 2016, reports UAE-based Aliqtisadi.

It is worth mentioning that the real estate market in Abu Dhabi recorded the completion of 1,469 housing units in the third quarter of the past year, with a marked increase in the industrial buildings amounting to 61 buildings.