Diverse DigestLaunching 1000 Apartments in 2024
Palette Resorts launches state of the art luxury residential cum retail tower in Tourist Club area, which is also known as Al Zahiyah in Abu Dhabi, with 100 thoughtfully designed one- bedroom units. It plans to add 1000 apartments in Abu Dhabi in 2024 to meet the growing demand of long terms rental accommodation by the expats.
Located on the eastern side of Abu Dhabi, at the intersection of Corniche Road East and Al Falah Street, this new building offers stunning city and Salam Street views, enhancing its appeal. Moreover, its standout feature is the ample parking space available, setting it apart from other apartments in the area.
The tower is surrounded by landmarks such as the Corniche, a public park, Salam Street, a bus stop offering access to the International Abu Dhabi Airport, Abu Dhabi Mall, supermarkets, the Mina Shopping Market, Corniche Hospital, Medeor Hospital, Abu Dhabi Grammar School, and Al Shomoo Private School.
Some of the key facilities in the apartments include modern kitchen layouts, semi furnished kitchen, built in closet/wardrobe, sofa set, dining table, and electronic appliances such as television, refrigerator, and washing machine etc.
Global hospitality technology company OYO owns Palette which is spread across the globe including OYO Palette Resort at Myrtle Beach in South Carolina in the United States of America, Palette Reflection hotel in Dubai, Palette Siniya Island Resorts in Umm Al Quaim and Palette The Grand Morrocc in Chiang Mai in Thailand.
OYO already has more than 1,000 apartments for expat housing under the OYO Life and OYO Homes segment in Abu Dhabi and Dubai. Abu Dhabi’s economy has been robust, with diversified sectors such as oil and gas, tourism, and finance driving growth. This economic stability has increased the influx of expatriates and tourists, leading to a higher demand for quality housing options. Its population has been steadily increasing, driven by both natural growth and immigration. This growth has created a need for more housing units, especially those that meet international standards in terms of design, amenities, and infrastructure and are cost-effective and flexible as compared to hotels
OYO focuses on key business districts and leisure hotspots for the expansion to provide an optimal blend of work and relaxation for the guests. It includes Khalifa City, Al Zeina, Al Raha, Al Reem Island, Al Reef and Al Mushrif and popular tourist destinations that include Sheikh Zayed Grand Mosque, the Emirates Palace, Etihad Towers, Louvre, Ferrari World, Warner Bros World, Yas Waterworld and Sea World.
Speaking on the expansion plan Karan Ashok, Head, OYO United Arab Emirates said, “In line with OYO’s commitment to providing affordable accommodation solutions, the residential tower offers competitive rental rates, making it an attractive option for expatriates seeking long-term rentals in Abu Dhabi. There is round the clock on-ground support to ensure a memorable experience”.
According to a report by Savills, a global real estate agency, Abu Dhabi’s residential sector witnessed an impressive 83% year-on-year growth in 2023. This surge in demand for residences is attributed to various positive government initiatives and announcements, a robust economy, and the launch of new projects. Additionally, Abu Dhabi has experienced an influx of expatriates and digital nomads, a trend reflected in the Savills Executive Nomad Index. This year, Abu Dhabi made its debut in the index, securing the 4th position, indicating its growing popularity among global professionals seeking a dynamic living environment.
Diverse Digest
