Abu Dhabi's real estate transaction for H1 surges to $6bn
ABU DHABI, July 24, 2022
Abu Dhabi's real estate market sustained growth driven by investor optimism, recording 7,474 property transactions amounting to over AED22.51 billion ($6.12 billion), according to a report released by the Department of Municipalities and Transport (DMT).
The confidence among investors indicates the market's attractiveness and a sustainable growth trajectory, stated the DMT in its half-yearly report that indicates that all kinds of land, buildings, and real estate were purchased, sold, and mortgaged.
The DMT real estate trading index also shows 3,568 real estate purchase and sale transactions worth AED8.9 billion and 3,906 mortgage transactions worth AED13.61 billion.
"Abu Dhabi's leadership implemented several sound policies and strategic measures to achieve these results. Through constant and sustained growth in the real estate sector, Abu Dhabi has maintained its standing as a world-class market and investment destination," remarked Dr Adeeb Al Afifi, the Executive Director of the Real Estate Sector at the DMT.
In the list of top five areas in terms of the numbers and values of real estate transactions in Abu Dhabi during the first six months, Yas Island topped the list with transactions worth AED1.8 billion followed by Al Saadiyat Island in the second place with transactions worth AED1.2 billion and Al Shamkha at third spot with deal worth AED1 billion.
Al Afifi said "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."
Diverse investors from the UAE, GCC, and around the world have continued to boost the emirate's real estate market.
In the neighbouring emirate, Dubai, the real estate and properties transactions hit AED10.9 billion in total during the week ending July 22. The sum of transactions was 2,509.
A total of 263 plots in the emirate were sold for AED1.46 billion, while 1,716 apartments and villas fetched AED3.67 billion in sales, stated a report by Dubai's Land Department (DLD).
The DLD weekly report said the top three transactions were a land in Burj Khalifa sold for AED167.09 million, followed by one in Al Barsha First for AED70.6 million and a plot in Burj Khalifa sold at AED167.09 million.-TradeArabia News Service
