Real estate transactions in Abu Dhabi have surged past AED5 billion ($1.36 billion), comprising a diverse array of 1,386 sales and mortgage deals across various property types. The latest data from the DARI platform, affiliated with the Department of Municipalities and Transport in Abu Dhabi, reveals the emirate’s resilience and attractiveness of its real estate market.
Solid mortgage activity
The value of real estate mortgages in Abu Dhabi reached approximately AED2.6 billion. This growth was driven by the registration of 635 mortgage deals. This indicates a robust demand for property financing, reflecting confidence in the market and the stability of the emirate’s real estate sector.
Meanwhile, Abu Dhabi’s real estate sales transactions have been a major contributor to the overall figure, with a total value exceeding AED2.5 billion. The data indicates a balanced distribution between ready properties and off-plan units, with 751 sales transactions recorded so far in 2024. The consistent performance underscores Abu Dhabi’s status as a preferred destination for property investment.
Major transactions
The DARI platform highlighted significant transactions in Abu Dhabi city during the past week. Notably, Mohamed bin Zayed City secured the top spot with a transaction value of AED16.6 million for Prestige Tower. Following closely came Saadiyat Island with a transaction worth AED12.7 million for Mamsha Al Saadiyat. Therefore, these transactions underscore the diversity and scale of real estate investments within Abu Dhabi.
Sector support
The real estate sector in Abu Dhabi is experiencing an upward trajectory, buoyed by a combination of government incentives and high-quality projects initiated by both the Department of Municipalities and Transport and private entities. These efforts have not only solidified the emirate’s standing as an attractive environment for investors but also bolstered its global competitiveness in the real estate market.
The robust start to real estate transactions in Abu Dhabi for January 2024 reflects the sustained growth and resilience of Abu Dhabi’s property market. As initiatives and projects continue to shape the landscape, Abu Dhabi remains an appealing destination for both local and foreign investors. The dynamic real estate sector sets a positive tone for the rest of the year, indicating the emirate’s enduring appeal in the global real estate arena.
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