Azure Al Reem welcomes first homeowners in 339-apartment residential unit
Abu Dhabi’s most vibrant new residential complex at Azure Al Reem has welcomed its first residents, as the new community takes shape. Reem Island is one of the fastest growing neighbourhoods 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. Mr Al Jneibi comes from a proud UAE family, whose parents have worked hard to contribute to the nation; his father is in the military and his mother gave many years of service as a teacher before retiring. With a young family, Mr Al Jneibi says 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 a property before I hit 30.”
When asked about the features of the property, Mr 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.
“The moment I first went there, I saw the location, the supermarket right around the corner, the gym, sauna, pool and electric barbeque area, and of course the view from the balcony. I fell in love with this place right away.”
Real estate advisors Savills are the exclusive agents of the project and have seen great interest in Azure Al Reem’s ‘easy to own’ payment plans, with people able to move in as homeowners on deposits of just AED 50,000 for a one-bed or AED 70,000 for a two-bed.
Ziad Abou Nasr, Director of Al Masaood Developments, commented: “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.”
Katie Burnell, Head of Residential Sales & Leasing for Savills, said: “Developers are looking at ways that will help the UAE’s young generation become homeowners and innovative schemes like the one offered at Azure Al Reem benefits not just the individual buyers, but also Abu Dhabi, by anchoring families in the capital and creating a community of hard-working professionals who commit to the nation and establish roots for the longer term.”