Abu Dhabi, UAE – The foreign direct investment (FDI) in the individual category within Abu Dhabi’s real estate sector has soared to AED 834.6 million during the first half of 2023, achieving a record growth rate of 363% compared to the corresponding period last year, the emirate’s Department of Municipalities and Transport (DMT) announced on Monday.
The DMT data reveals, the following five regions topped the list in terms of the highest shares of foreign direct investment by individuals: Saadiyat Island claimed the top spot with 34 percent, followed by Yas Island at 28 percent, Al Jurf at 12 percent, Al Reem Island at 11 percent, and Al Shamkha area at 8 percent.
Executive Director of the Real Estate Sector at the DMT Dr Adeeb Al-Afifi said that Abu Dhabi’s “strategic location, world-class infrastructure, and supportive economic and legislative environment”, have contributed to enhancing the emirate’s position as a preferred destination for individuals of all nationalities to invest, live, and work.
Earlier in June, Fortinbras Enterprises, a New York-based firm, made a strategic investment in Peninsula Real Estate, an Abu Dhabi-based property investment company. The investment aims to aid Peninsula in expanding and diversifying its property portfolio in the UAE and across the Gulf Cooperation Council (GCC) region.
Peninsula focuses on acquiring, developing, and managing office, industrial, and logistics properties within the GCC’s six-member economic bloc. The UAE property market has been recovering from the impact of the pandemic, thanks to government initiatives, higher oil prices, and measures to support the economy.