Abu Dhabi’s real estate market sustained growth driven by investor optimism, recording 7,474 property transactions amounting to over 22.51 billion dirhams, according to 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 8.9 billion dirhams and 3,906 mortgage transactions worth 13.61 billion dirhams.
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 of 2022, Yas Island topped the list with transactions worth 1.8 billion dirhams with Al Saadiyat Island coming in at second place with transactions worth 1.2 billion dirhams. With one billion dirhams, Al Shamkha came in third, Al Reem Island came in fourth with 872 million dirhams, and Khalifa City came in fifth with 310 million dirhams. Al Raha Beach came in sixth with transactions worth 300 million dirhams.
Adeeb Al-Afifi, Executive Director of the Real Estate Sector at the Department of Municipalities and Transport, 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.”
He 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.”
