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Dh50m villa on sale at UAE’s Nurai island


15-Oct-2012

Ultra-luxury villas on Nurai island, off Abu Dhabi, have been put up for sale with one five-bedroom seaside estate being listed at over Dh50 million.
The 1740.71-square metre leasehold, beachfront estate has six bathrooms, receptions rooms, 24-hour security and of course, a swimming pool. 

The asking price stated is Dh53.66 million.

Another listing from Knight Frank, global real estate consultant, is for a 929.37 square metre, four-bedroom water villa for Dh23.84 million. 

The unit offers panoramic views with a floor to ceiling glass walls, rooftop lounge/garden and infinity pool, says the listing. 

A 1737.937 square metre villa is listed for Dh48 million, while a 929 square metre water villa is selling for Dh26 million. 

"They were sold at very high prices when they were launched. 

“The average selling prices was between Dh35 million and Dh110 million. 

“Even though the prices have come down, they still are amongst the most costliest villas," said a Abu Dhabi-based realty agent on conditions of anonymity.Nurai island - a Dh3-billion ultra-luxury project in Abu Dhabi - was launched in 2008. 

The project comprised 31 high-end beachfront estates and 36 water villas.In an interview with Emirates 24|7 last year, Nadia Zaal, chief executive officer of Zaya, said: "When we launched in 2008, our project was 70 per cent sold within the first month. 

“Since the crisis hit, we reduced the number of homes on Nurai as we realised that it was far better to reduce the size and finish the project." 

She had said that company had not slashed prices as credit crisis had lesser impact on Zaya compared to its peers. 

"Thankfully, the downturn has not affected Zaya as much as other developers due to the type of offering that Nurai represents. 

“Our prices have remained intact and we have ensured that residents are always receiving value-adds at all times."

 The developer had not responded to questions sent by this website till the time of publishing of the article.





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