Palm Hills Unveils a New Real Estate Icon in Abu Dhabi

Palm Hills Chairman Yassin Mansour

Palm Hills Unveils a New Real Estate Icon in Abu Dhabi

In a new development on the Middle East real estate development map, Palm Hills Chairman Yassin Mansour revealed details of the Saadiyat Shores project in Abu Dhabi, a contemporary model that combines luxury, innovation, and architectural diversity.

This project comes within the framework of a long-term strategic vision aimed at enhancing the luxury real estate sector and creating an integrated living environment that encourages a healthy and connected lifestyle.

Saadiyat Shores: Three Islands for a Unique Experience

The Saadiyat Shores project spans 1.8 million square meters and features a unique design comprising three interconnected islands. Mansour explained that the project reflects a focus on encouraging walking and community living through the design of integrated spaces that include approximately 620 villas and 1,000 apartments.

Zen Island: Inspired by Japanese architecture and landscapes, it offers a unique experience for residents.

Reef Isle: Featuring a marina and curving buildings, this island is based on biophilic architecture, seamlessly integrating construction with nature.

Wellness Island: Dedicated to relaxation and wellness, it includes a spa and health facilities to promote a healthy lifestyle.

The project aims to offer a comprehensive experience, combining luxury living, entertainment, and diverse services, reflecting a high level of innovation in real estate design.

Palm Hills Launches $3.8 Billion Project in Abu Dhabi

Palm Hills' Experience: A Real Estate Development Giant

Mansour reviewed Palm Hills' journey, highlighting that the company has developed approximately 55% of Manhattan's land area, with projections indicating an increase to 80% by 2030. This reflects the company's significant expansion and extensive experience in managing mega-projects.

He explained that the company leveraged its long experience to deliver innovative solutions, as past experiences have proven the viability of its vision in the market, despite initial reservations from some marketing specialists. He also emphasized that the company aspires to offer a product distinct from other projects, balancing luxury with investment value and meeting the demands of both the local and international markets.

Project Budget and International Demand

The budget for the Saadiyat Shores project is estimated at approximately AED 25 billion, equivalent to about USD 7 billion, with construction costs reaching AED 14 billion excluding the land.

Mansour noted significant interest from international investors, particularly from the UK, France, Germany, and the US. He emphasized that the UAE's secure location and advanced digital infrastructure make it an attractive environment for long-term investment and residence. The ease of living and advanced government services further enhance the project's investment value.

Palm Hills' Strategies in Egypt

Regarding the Egyptian market, Mansour revealed that Palm Hills recently launched several projects, most notably the 97 Hills project in New Cairo. He added that other projects will be launched in the first quarter of next year in the New Administrative Capital and the North Coast, confirming the success of the recent launches and that demand exceeded initial expectations.

The Egyptian Market: Challenges and Opportunities

Mansour discussed the state of the Egyptian market, emphasizing that Egypt is at an economic crossroads and that the challenges it faces are simultaneously opportunities for growth. He explained that the current infrastructure of major cities, such as Cairo, does not fully meet the needs of the population. The city is home to approximately 20 million people, despite its infrastructure being designed to accommodate only 3-4 million, creating a continuous demand for real estate.

He pointed out that this demand is not limited to the local market but extends to Egyptians living abroad, who purchase properties in dollars, thus contributing to increased investment activity in the real estate sector. He also emphasized that the North Coast represents a significant investment opportunity, as the region is witnessing direct inflows of foreign investment amounting to tens of billions of dollars, reflecting investors' confidence in the region's economic potential.

A Future Vision for the Private Sector and the State

Mansour explained that state intervention in major projects was necessary to bolster trust and credibility, especially in the early years of the economic recovery phase. However, he stressed the importance of the state withdrawing from certain activities while maintaining its regulatory and supervisory role. He affirmed that the private sector is capable of contributing to development without relying entirely on the government, thereby ensuring the sustainability of projects and achieving high growth rates.

He pointed out that Egypt has begun implementing massive infrastructure projects, such as the Suez Canal expansion, in addition to the reconstruction of Gaza. This provides significant opportunities for local companies to benefit from engineering materials and services, and will bolster economic growth in the coming phase.

Al-Ahly's Developments: A Pioneering Management Model

The discussion touched on Yassin Mansour's role in developing Al-Ahly SC, where he emphasized the importance of youth development and investing in local talent, while strengthening cooperation with the government to increase revenue. He explained that the club possesses one of the strongest brands in the Middle East and Africa and is capable of achieving record revenue figures compared to European clubs if the ticketing system and fan services are improved.

Yassin Mansour's statements reflect a clear vision for the future of real estate development in the UAE and Egypt, where projects combine innovation, diversity, and sustainability, while ensuring they meet the needs of both the local and international markets.

Palm Hills projects, whether in Saadiyat Shores, New Cairo, or the North Coast, underscore the private sector's ability to drive economic development and offer investment and residential products that fulfill the aspirations of both customers and investors. This is achieved within an environment that balances risks and opportunities, further solidifying the region's position on the global investment map.