Abu Dhabi’s real estate market sustained growth driven by investor optimism, recording 7,474 property transactions amounting to over US$6.13 billion approx (AED22.51 billion), as per the latest report released by the Department of Municipalities and Transport (DMT).
The department’s half-yearly report indicates that all kinds of land, buildings and real estate were purchased, sold and mortgaged.
DMT’s real estate trading index shows 3,568 real estate purchase and sale transactions worth US$2.5 billion (AED8.9 billion) and 3,906 mortgage transactions worth US$3.7 billion (AED13.61 billion).
Dr. Adeeb Al-Afifi, Executive Director of the Real Estate Sector at the Department of Municipalities and Transport, said, “Abu Dhabi’s leadership implemented several sound policies and strategic measures to achieve these results.”
He said, “Through constant and sustained growth in the real estate sector, Abu Dhabi has maintained its standing as a world-class market and investment destination.”
In the list of top five areas in terms of the numbers and values of real estate transactions in Abu Dhabi, Yas Island topped the list with transactions worth US$490 million (AED1.8 billion) with Al Saadiyat Island coming in second place with transactions worth US$327 million (AED1.2 billion).
With US$272 million (AED 1 billion), Al Shamkha came in third, Al Reem Island came in fourth with US$237 million (AED872 million), and Khalifa City came in fifth with US$84 million (AED310 million). Al Raha Beach came in sixth with transactions worth US$82 million (AED300 million).
Al-Afifi added, “As we enter the second half of 2022, we expect to see significant investment opportunities, particularly with the introduction of several new projects that will boost Abu Dhabi’s real estate market.”