Abu Dhabi developers get all cautious on off-plan launches

Dubai: Abu Dhabi’s developers are not rushing out with new launches … and that’s a good thing these days.

“Developers are increasingly becoming sensitive to not amplifying the already soft market conditions by bringing in too much new stock,” said David Godchaux, CEO of Core Savills. “We do not expect a large number of new launches this year. “Besides, [there are already] a few prominent developers launching limited off-plan stock with researched demand drivers and calibrated product offerings.”

In other words, developers are well-advised not try to just copy and paste Aldar’s strategy … at least for now. By and large, Aldar continues to hit its targets with timed launches such as the Reflection, a twin-tower project on Al Reem Island where studios start at Dh580,000, a one-bed for Dh880,000 and a three-bed for Dh1.82 million.