How much will PHD’s mega Abu Dhabi project cost? Palm Hills Developments will invest USD 3.8 bn to develop its mega project Saadiyat Shores in Abu Dhabi, its first investment in the UAE, Chairman Yassin Mansour told Sky News Arabia (watch, runtime: 16:22). The developer is targeting over USD 7 bn in project sales from European, American, Egyptian, and Asian buyers.

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The details: The 1.87 mn sqm project will consist of three interconnected islands and house 620 villas and 1k apartments. The first island — Zen Island — will be inspired by Japanese architecture, the second — Reef Isle — will include a marina and buildings with curved forms, incorporating biophilic architecture, and the third will offer relaxation and wellness amenities, including a spa.

The timeline: Palm Hills is currently working to secure final approvals, with construction set to begin in April or May, and deliveries expected around three years later, Mansour told Reuters in another interview.

What about financing? The developer is seeking financing from UAE banks for the project and expects to sign term sheets very soon.

We have known about the project for a few months now, after the developer announced that it entered into an agreement with Wave Seven to develop the plot back in May.

More in the pipeline: The developer is also exploring prospects for a second project in Abu Dhabi, as well as in Dubai, Mansour said. Beyond the UAE, Palm Hills is in discussions for potential developments in Saudi Arabia, with Riyadh and Jeddah currently under consideration. The company is planning to launch a new project in 6th of October in 1Q 2026, alongside another development in the new capital.

REMEMBER- The company’s board approved its expansion into the UAE via the establishment of a subsidiary and wholly owned limited liability company in Abu Dhabi back in February. This came shortly after it set up its Saudi arm.

Other local developers have also made their way to the Emirates, including Ora Developers, which launched a coastal 4.8 mn sqm development between Dubai and Abu Dhabi named Bayn at an estimated cost of USD 10 bn.

IN OTHER REAL ESTATE NEWS-

Makadi Heights is expanding: Orascom Development Egypt subsidiary Makadi Heights inked an agreement with the government to develop a 1.02 mn sqm seafront plot adjacent to its existing Makadi Heights project on the Red Sea, according to a press release (pdf). The move will expand the project’s total area to around 4.75 mn sqm and include residential units, serviced apartments, commercial spaces, and a hotel. The government will receive 50% of the project’s components in kind.

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