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Apartment 159.6 m2 on Al Reem Island, Abu Dhabi | Tara Park | $764,890
Spacious apartment of 159.6 m2 in the new residential project Tara Park on Al Reem Island in Abu Dhabi. The property is located on the 1st floor of an 18-storey building. The project from developer Modon includes two architectural towers and a limited collection of 340 residences. The deadline is the second quarter of 2030.
Characteristics of the object
The project was created as a combination of urban environment and green living space with a lot of natural light. Page 8 shows an interior with panoramic glazing, a spacious living room and a balcony; pages 13–16 show an area with swimming pools, walking and running routes and landscape landscaping.
Infrastructure
Within the complex are provided:
This is a particularly strong set for the family: children, education, work and sports infrastructure are provided here at the same time.
Location.
Al Reem Island is a formed area of Abu Dhabi with offices, waterfronts, restaurants, shopping centers, schools, a university and medical infrastructure. The presentation also noted that ADGM employees, top managers and expats live here.
According to the presentation:
5 minutes - Downtown Abu Dhabi, ADGM and The Galleria Mall
15 minutes - Louvre Abu Dhabi
23 minutes - Disneyland Abu Dhabi
25 minutes - Zayed International Airport
90 minutes - Downtown Dubai.
Also nearby are Sorbonne University, Repton School and Cleveland Clinic Abu Dhabi.
Investment potential
Al Reem Island is described in the materials of the project as a free economic zone and a leader in demand and volume of transactions. The stated planned ROI on lease is 7-10% depending on the strategy. This is a project forecast, not a guaranteed return on a particular apartment.
The cost is $764,890.
There is a 50/50 installment payment, an initial payment from 5%. According to the presentation, 50% is paid before receiving the keys. At the same time, the document specifies the date of payment of the remaining 50% - December 2029, although the date of delivery is designated as Q2 2030. This discrepancy I would definitely clarify with the developer before publishing the schedule of payments to the client.
I accompany the transaction at all stages: selection and comparison of lots, calculation of the investment scenario, communication with the developer, verification of documents and organization of the purchase.
