Abu Dhabi, UAE— Abu Dhabi’s real estate market recorded a total of 4,441 transactions amounting to over AED 21.04 billion ($5.72 billion) in the third quarter, according to the latest report published by the Department of Municipalities and Transport (DMT).
The DMT’s quarterly showed that the emirate recorded 1,995 real estate sales worth AED 5.39 billion, and 2,446 mortgage transactions worth AED 15.64 billion.
Yas Island topped the list logging transactions worth AED 1 billion, while Al Saadiyat Island coming in second with transactions worth AED 929 million. With a total of AED641 million in transactions, Al Shamkha ranked third, followed by Al Reem Island with AED 541 million, and Khalifa City with AED 208 million. Mohammed bin Zayed City recorded transactions worth AED 182 million.
Dr. Adib Al Afifi, Executive Director of the Real Estate Sector at DMT, said, “The real estate market in the Emirate of Abu Dhabi continues to achieve outstanding results and continuous and sustainable growth. By providing more options for investment in the real estate market and increasing the transparency of this vital sector contributes to the strengthening of Abu Dhabi’s global position as one of the most lucrative destinations for real estate investment.”