In a remarkable demonstration of resilience in the Abu Dhabi real estate market, Royal Development Holding has achieved a swift sell-out for its latest venture, Radisson Residences Al Reem Island. The project’s first phase, valued at $327 million, was completely sold within just 24 hours of its launch, reflecting robust demand for high-quality, hospitality-driven residences in the capital.
This dynamic development is part of a larger AED 1.2 billion ($327 million) initiative, highlighting the increasing popularity of premium living spaces that blend residential comfort with hospitality elements.
Royal Development Holding, a division of Emirates Stallions Group, is behind this ambitious project. Notably, Radisson Residences Al Reem Island marks a significant milestone as the very first standalone Radisson Residences globally.
Strategically located along the picturesque waterfront of Al Reem Island, this development features contemporary architecture, sophisticated interiors, and a distinctive hospitality-led lifestyle concept. Phase 1 includes a diverse array of residential options, ranging from studios and one- to three-bedroom apartments to spacious three- and four-bedroom townhouses, all of which were claimed within a record timeframe by eager investors and future homeowners.
Radisson Residences Al Reem Island in Abu Dhabi
Tariq Nazzal, CEO of Royal Development Holding, expressed pride in this achievement, stating, “We are extremely proud of this accomplishment, which reflects the strength of our collaboration with Radisson Hotel Group.” He continued, “Over the years, we have focused on building a strong presence in the premium branded residences sector, and the complete sell-out of Phase 1 of the Radisson Residences Al Reem Island within 24 hours of its official launch is a tangible demonstration of that strategy in action.”
Elie Milky, Chief Development Officer for the Middle East, Northeast Africa, Greece, and Cyprus at Radisson Hotel Group, added, “Our collaboration with Royal Development Holding carries particular significance, as the company was able to anticipate market needs and deliver a highly sought-after product for buyers seeking an elevated lifestyle.” He noted that the swift sell-out exemplifies a new chapter in Radisson’s growth, connecting it increasingly with upscale residential living.
Phase 2 Preparations
Nestled along Abu Dhabi’s stunning mangrove-lined coastline, Radisson Residences Al Reem Island is designed as an architectural highlight, offering breathtaking views and an array of amenities that align seamlessly with Royal Development Holding’s commitment to community-centric development.
With the impressive success of Phase 1 now established, the developer has announced that efforts are already underway for the launch of Phase 2. Anticipation for this next phase is building, with investors keenly awaiting further opportunities to be involved in Abu Dhabi real estate.