Tourism Development Investment Company will soon be planning to build affordable housing on Abu Dhabi’s upmarket Saadiyat Island. The development thought has occurred in overseas developers’ mind to attract homebuyers by constructing lower cost off-plan units.
The developer of Louvre Abu Dhabi has finished with its study to see the feasibility of building homes at smaller ticket prices so that they can fulfil the demand by increasing the supply. The company has actively marketing two and three bedroom town houses of its Saadiyat Lagoons project and the one bedroom apartments at Mamsha Al Saadiyat. The cost of its units in Saadiyat Lagoons project is starting from Dh2.4 million.
“We are also reviewing the mid-market. Mid-market is very positive. There is very high demand. I think that’s another area where we need also to tap in. But at the same time, we try to integrate into our market,” says Sufian Al Marzooqi, Chief Executive, TDIC.