The sky is the limit for rental costs in Abu Dhabi

ABU DHABI — It all sounds great — new, spacious apartments, close to the city centre, with balcony, a sea view, parking and gym.

By A Staff Reporter

Published: Tue 22 Aug 2006, 9:09 AM

Last updated: Sat 4 Apr 2015, 6:15 PM

But is it?

The posh building flats available for rent on Al Mina Road, Abu Dhabi, are, indeed, state-of-the-art.

However, the price tag is equally ‘fabulous’.

For a four-bedroom apartment, the rent is Dh160,000 per year, while a five-bedroom is Dh180,000 per year.

“For this kind of money one could get a villa, with a garden, which is far more private,” pointed out an estate agent, who preferred not to reveal his identity.

For this kind of money, one would also expect excellent amenities, he added.

The apartments are, indeed, clean and large, there is a gym, with sauna and jacuzzi on the top floor and an underground car park. But the location is far from ideal.

The beautiful sea and city view is only available on one side of the building, while on the other side the scene is noisy, dusty and polluting.

There is no grocery shop, pharmacy or laundry in the vicinity and because of the one-way system, before the tenants can drive into the city, they must make a two-three-kilometre journey to Zayed Port and then take a U-turn.

As the estate agent pointed out, the flats come unfurnished, so adding the cost of furnishing four or five bedrooms and a large living room, the accommodation price could easily reach Dh200,000.

He said that, in general, the rental cost in Abu Dhabi is going up by gigantic leaps every year.

In one of the towers, a nearby building, the rent has been going up by Dh10,000 every year.

“I remember two years ago it was Dh35,000, last year it went up to Dh45,000 and now they are asking for Dh55,000,” revealed the estate agent.

These prices are for one-bedroom flats only, without balconies and with very poor soundproofing.

Even shared accommodation has become expensive. “Our office has recently rented one room in a four-bedroom apartment for four Filipino women. There is only one bathroom in the flat although there are about 12 people are living there. And yet, the monthly rent is Dh700,” said the estate agent.

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