Emaar announced last week the launch of a new masterplan, which will deliver over AED 200 billion in real estate in the heart of Dubai. We will be getting the details for this shortly. Before we get to this, I want to run through the recent Modon launcha nd the numbers and buying patterns involved.
Last month, we were invited by Modon to the Royal Windsor Horse Show for the International Sales launch of Hudayriyat Island – Golf Estates.
A select collection of what Modon considered the top international agencies globally were invited for the launch, where we spent the day hosted in the Royal Box with direct access to the senior leadership team at Modon, including the CEO and CFO, discussing not only this launch, but the wider future vision for Hudayriyat Island and Abu Dhabi as a whole.
Hudayriyat is being designed as one of the UAE’s premier lifestyle destinations — combining luxury residential communities, championship golf, beach clubs, elite sports infrastructure, wellness facilities, hospitality, schools, cycling tracks, marinas, entertainment districts, and waterfront living into one integrated island ecosystem.
The level of infrastructure already completed on the island is remarkable, and what is still to come over the next decade is even more impressive.
Over the last two weeks, we have been invited to submit EOIs for our clients regarding the Villas across the community. Ranging from 6-bedroom mansions to 3-bedroom townhouses.
Last week, we launched and Modon successfully sold AED 13 billion. A complete sell-out in one week, with many of the types over-subscribed.
So how did Modon do it? If you are looking at the market now and the wider region, you will be quite rightly thinking, how does a UAE developer launch a project in this climate and sell AED13 billion in one weekend?
Firstly, Hudayriyat Island is no longer being viewed as a future concept. Investors can now see the infrastructure, lifestyle facilities and government commitment becoming reality. The beaches, sports facilities, hospitality offering and wider masterplan have transformed Hudayriyat from a vision into a destination.
Secondly, Abu Dhabi continues to establish itself as one of the safest and most stable destinations for global capital. As global uncertainty rises, many investors are not leaving the region. Instead, they are reallocating capital into sovereign-backed projects with long-term visibility and strong fundamentals.
Thirdly, and perhaps most importantly, the pricing remains attractive relative to what many buyers believe the community will become over the next decade. The launch attracted everyone from end users and Emirati families through to GCC investors, international buyers and family offices seeking long-term exposure to Abu Dhabi’s growth story.
However, the most overlooked factor, and without doubt the most important, is the Payment Plan.
For many investors, Golf Estates was as much a capital allocation opportunity as it was a real estate purchase.
With only 5% payable on booking and a further 5% due in March 2027, buyers can secure a premium asset with relatively limited capital deployed during the early years of the development cycle.
Using a AED 10 million villa as an example:
• AED 500,000 on booking
• AED 500,000 in March 2027
• Just AED 1 million deployed after almost twelve months
Yet the investor controls a prime asset within one of Abu Dhabi’s most ambitious masterplans. If values continue to appreciate as many forecasts suggest, the return on actual capital deployed becomes extremely attractive. This flexibility allows investors and family offices to secure significant positions whilst maintaining liquidity for additional opportunities elsewhere in the market.
The result is a combination rarely seen in global real estate:
• Government-backed masterplan
• World-class lifestyle destination
• Strong demographic growth
• Relative scarcity of competing products
• Attractive entry pricing
• Exceptional payment terms
The price points in the development are just fundamentally undervalued. If they were ready, they would be worth a lot more, and these numbers are in plain sight in the data that we have available. The per-square-foot pricing for the villas is exceptionally attractive compared with almost every other prime villa market in the UAE. It is actually priced lower than secondary units in Nawayef Hills (Modon). So you can enter the community at a lower price per sqft than those who purchased on the secondary market after missing out on previous launches.
When benchmarked against premium products in Saadiyat, Dubai Hills, Palm Jumeirah, Emirates Hills, and Jumeirah Golf Estates, the value proposition becomes extremely clear.
While many developers are front-loading payment plans and requiring substantial capital exposure early in construction, Modon takes a different approach and gains the trust of investors, offices and the wider investment community as THE launch of UAE Real estate.
How to navigate the future?
Everyone who has worked closely with us over the last 2 years in the UAE knows how selective we have been about the developments we offer.
In most cases, I think the launch prices for projects were just plain wrong; they were set at levels equivalent to those of ready units. That diminishes the whole purpose of buying Off-Plan, but with clever marketing and pushy agents, you end up with sales in a hot market. I think, unfortunately, there will be buyers out there on units and tickets that are just bad value.
What we would look for is projects you can leverage which are undervalued. A* Grade commercial space is undervalued. There isn’t enough of it, and projects like Lumena and Lumena Alta are going to be some of the most highly sought-after units in the whole of Dubai.
Luxury Villa and Townhouse locations remain undervalued in certain areas. I would be focusing on locations such as Polo by Emaar. Oasis by Emaar. Athlon by Aldar. These locations and Masterplans will outperform the market. In Apartments, focus on Emaar’s luxury brands or other luxury-branded residences. Pagani Tower, which is currently ready, has a 5-year post-handover plan with just 20% down. For a fund or individual investor, you can get the tenants or short-term tenants to pay.
Abu Dhabi: look at towers near ADGM, Villas on Yas Island, and the only affordable apartments I would be buying currently are the units around 1.6m AED with Aldar on Yas.
Fahid Island represents the pinnacle of Dubai Living. If you are an HNWI, then focus here. Villas and Beachfront apartments. In the coming years, these will have appreciated to be amongst the highest of any project in the UAE. The master plan is undervalued.
Opportunities are limited, but as you see with Modon, if you work with the right advisors, you can spot the value where it truly lies.
Modon defied a war and a stalled market, smashing expectations by selling AED 13 billion in one weekend!
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Off Plan Dubai
Suite: 508, Fairmont,
Sheikh Zayed Road,
P O Box 75671,
Dubai, UAE
Off Plan Dubai
167–169 Great Portland Street, 5th Floor, London, W1W 5PF.
The floor plans and brochure for this development will be emailed to you once you request further information from us.
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