Abu Dhabi real estate sector records over Dhs46.33bn in deals in H1 2023

The latest report from Abu Dhabi’s Department of Municipalities and Transport shows that the real estate sector sustained growth, recording 10,557 property transactions amounting to more than Dhs46.33bn.

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 6,730 real estate purchase and sale transactions worth Dhs25.09bn and 3,827 mortgage transactions worth Dhs21.24bn.

Dr Adeeb Al Afifi, executive director of the Real Estate Sector at the Department of Municipalities and Transport, said: “Abu Dhabi’s real estate market continues to thrive, showcasing a resilient and optimistic investor sentiment.

“The recently released report by the DMT reveals an impressive volume of activity, with 10,557 property transactions totalling over Dhs46.33bn.”

.@AbuDhabiDMT has recorded more than AED46.33 billion in real estate transactions in H1 of 2023, a 106 per cent increase on the same period in 2022, reflecting optimistic investor sentiment, and reaffirming Abu Dhabi as an attractive destination for investment opportunities. pic.twitter.com/IcbZYXlUhf

— مكتب أبوظبي الإعلامي (@ADMediaOffice) July 31, 2023

Top areas in Abu Dhabi in terms of real estate transactions

In the list of top five areas in terms of the numbers and values of real estate transactions during the first six months of 2023, Al Saadiyat Island topped the list with transactions worth Dhs3bn.

Yas Island came in at second place with transactions worth Dhs2.6bn.

With Dhs2.4bn, Al Reem Island came in third, Al Jubail Island came in fourth with Dhs1.5bn, and Al Shamkha City came in fifth with Dhs1bn.

Dr Al Afifi said: “As we enter the second half of 2023, we expect to see significant investment opportunities, particularly with the introduction of several new projects.”

Investors from the UAE, GCC, and around the world have continued to boost the emirate’s real estate market.

The DMT recently reported that the emirate’s real estate sector saw Dhs834.6m in foreign direct investment (FDI) by individuals in H1 2023.

This represents a robust rise of 363 per cent compared to the same period in 2022. According to data released by the DMT, the following five regions topped the list in terms of the highest shares of FDI by individuals:

• Saadiyat Island with 34 per cent
• Yas Island with 28 per cent
• Al Jurf with 12 per cent
• Al Reem Island with 11 per cent
• Al Shamkha area with 8 per cent