This document summarizes the Abu Dhabi residential property market in Q4 2015. It finds that apartment and villa prices declined slightly by 1% during the quarter. Over the past year, apartment prices dropped 3% on average while villa prices fell 4%. Rent performance was mixed across areas, with some like Al Raha Beach and Al Reem Island seeing stable rents and others like Al Reef Downtown declining 1-2%. Approximately 2,700 new residential units were completed in 2015, mainly on Al Reem Island and Saadiyat Island. Over 14,600 additional units are scheduled to enter the market between 2016-2018, with over 60% in 2017.

1. Q42015
Abu Dhabi Residential
Market Report

2. Abu Dhabi Residential Market Report - Q4 2015
© Cavendish Maxwell 2016 | www.cavendishmaxwell.com 2
• Price performance
• Rent performance
• Residential supply
Content
Sale price movement
Q3 2015 - Q4 2015
-1% -1%
Q4 2014 - Q4 2015
-3% -4%

3. Abu Dhabi Residential Market Report - Q4 2015
© Cavendish Maxwell 2016 | www.cavendishmaxwell.com 3
-5%
-4%
-3%
-2%
-1%
0%
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
Al Ghadeer Al Raha
Beach
Al Reef
Downtown
Al Reem
Island
Saadiyat
Beach
Residences
%change
Averageprice
AED/sqft
Q3 2015 Q4 2015 QoQ % change 12 month change
-6%
-5%
-4%
-3%
-2%
-1%
0%
0
200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
Al Raha Gardens Al Reef Saadiyat Beach Villas
%change
Averageprice
AED/sqft
Q3 2015 Q4 2015 QoQ % Change 12 month change
Price performance
Apartments price performance Villas price performance
Figure 1 Figure 2
Source: Property Monitor IndexQoQ % change Q3 2015 - Q4 2015Q4 2015Q3 2015 12 month % change Q4 2014 - Q4 2015
Villas
• Villa prices have also slightly declined at a rate of 1%
during Q4 2015.
• During a 12 month period, villa prices declined by an
average of 4%.
-1%
-3%
-4%
-3% -3%
-4%
-4%
-5%
-3%
-1% -1% -1% -1%
-1% -1% -1%
Apartments
• Apartment prices have marginally declined by 1% in
Q4 2015 across the investment zones covered within
our report.
• In the last 12 months, apartment prices have dropped
an average of 3%, a slower rate than that in Dubai.

4. Abu Dhabi Residential Market Report - Q4 2015
© Cavendish Maxwell 2016 | www.cavendishmaxwell.com 4
Villas
• Average villa rents have remained stable in both Al
Raha Gardens and Al Reef, whilst Saadiyat Beach Villa
rents slightly increased by 1% as supply remains limited
on the island.
• Four and five bedroom villa rents have increased whilst
three bedroom villas have decreased.
Rent performance
Al Ghadeer
Al Raha Beach
Al Reef Downtown
Al Reem Island
Saadiyat Beach Residences
Al Raha Gardens
Al Reef
Saadiyat Beach Villas
2 bed 5 bed1 bed 4 bedStudio 3 bed
Rental rate
AED/sq ft/annum
Q4 2015
Rental rate
AED/sq ft/annum
Q4 2015
75
-
78
127
-
66
55
83
76
118
73
111
122
64
56
75
63
99
70
103
100
61
48
72
Figure 3 Figure 4 Source: Property Monitor IndexSource: Property Monitor Index
Apartments rent performance Villas rent performance
Apartments
• The change in apartment rents varied across different
areas as average rents in locations such as Al Raha Beach
and Al Reem Island remained stable in Q4 2015.
• Al Ghadeer rents have slightly increased by 1%, where
rents in Al Reef Downtown and Saadiyat Beach Residences
have dropped by approximately 1% and 2% respectively
in Q4 2015.

5. Abu Dhabi Residential Market Report - Q4 2015
© Cavendish Maxwell 2016 | www.cavendishmaxwell.com 5
• Approximately 2,700 units delivered in investment zones during 2015,
mainly on Al Reem Island and Saadiyat Island.
2015 Completions
• 14,600 residential units scheduled to enter the Abu Dhabi
investment zones from 2016 - 2018.
• Over 60% of that supply is scheduled to be delivered in 2017.
Pipeline
Residential supply

6. Miles Phillips BSc (Hons) MRICS ACIArb
Partner
Head of Operations - UAE
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E: miles.phillips@cavendishmaxwell.com
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Partner
Head of Residential Valuation
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E: sofia.underabi@cavendishmaxwell.com
Dima Isshak BSc
Research Manager
M: +971 50 482 7938
E: dima.isshak@cavendishmaxwell.com
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