The Abu Dhabi Real Estate Center (ADREC), the regulator of Abu Dhabi’s real estate sector, has announced the launch of the first official Rental Index in the emirate. The index serves both tenants and landlords and aims to increase market transparency, provide indicative rental values, and support the stability of the capital’s growing real estate market.
The Abu Dhabi Rental Index platform offers easily accessible and reliable data regarding residential, commercial, and industrial properties. Moreover, it offers indicative quarterly rental pricing on the platform for properties located in areas across Abu Dhabi.
“The Rental Index will energize the rental market in Abu Dhabi and further contribute to the emirate’s competitive edge to attract international investors,” stated Rashed Al Omaira, acting director general at ADREC. Al Omaira added that the center aims to build a thriving real estate sector, positioning the emirate as a leading investment and real estate destination regionally and globally.
“Our mission is to ensure transparency in our practices, and we will continue to work alongside all stakeholders to build and maintain trust in the system,” he added.
The Abu Dhabi Rental Index is an extension of ADREC’s ongoing efforts to enhance customer satisfaction in the real estate market and deliver value to all stakeholders including investors, property owners, and tenants.
How to use the Abu Dhabi Rental Index
Using the index is a very simple process. First, visit the Abu Dhabi Rental Index website. Then, choose the municipality you are looking for, Dhafra, Abu Dhabi city, or Al Ain city. The next step is selecting the zone and sector of your choice. Once you are done selecting all your preferences, click on “View Details.”
A window at the top right corner of your screen titled “Average Annual Contract Amount” will appear, detailing the types of properties in the area and their average annual rent in dirhams.
Read: Growing GCC interest drives $3.66 billion real estate market in Oman
Abu Dhabi’s property market
Abu Dhabi’s real estate sector witnessed exceptional growth during the first half of 2024 with the number of residential rental contracts rising to 49,135. This marks an increase of 24,811 contracts compared to the same period in 2023, reflecting a 102 percent year-on-year growth.
Abu Dhabi also recorded 12,439 real estate transaction activities with a value of AED36.2 billion. The transactions include AED23.7 billion from sales and purchase transactions across 7,088 transactions and AED12.5 billion from mortgage transactions across 5,351 transactions.
The sector also recorded a remarkable 225 percent annual surge in foreign direct investment (FDI) during the first half of 2024, reflecting its position as a global investment hub.
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