In a robust start to the year, Abu Dhabi’s real estate market has demonstrated resilience and attractiveness. The latest data from the DARI platform, affiliated with the Department of Municipalities and Transport in Abu Dhabi, reveals impressive figures:
Key Highlights
- Total Transactions: Real estate transactions in Abu Dhabi have surged past AED 5 billion (approximately $1.36 billion). These transactions comprise a diverse array of 1,386 sales and mortgage deals across various property types.
- Mortgage Activity: The value of real estate mortgages in Abu Dhabi reached approximately AED 2.6 billion. This growth was driven by the registration of 635 mortgage deals, indicating robust demand for property financing. This reflects confidence in the market and the stability of the emirate’s real estate sector.
- Sales Transactions: Abu Dhabi’s real estate sales transactions have been a major contributor to the overall figure, with a total value exceeding AED 2.5 billion. The data indicates a balanced distribution between ready properties and off-plan units, with 751 sales transactions recorded so far in 2024.
Major Transactions
The DARI platform highlighted significant transactions in Abu Dhabi city during the past week:
- Mohamed bin Zayed City: Secured the top spot with a transaction value of AED 16.6 million for Prestige Tower.
- Saadiyat Island: Followed closely with a transaction worth AED 12.7 million for Mamsha Al Saadiyat.
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 solidified the emirate’s standing as an attractive environment for investors and 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.
