Staff Report
Dubai, UAE
Abu Dhabi’s real estate transactions reached Dh46.33 billion during the first half of 2023, with the total number of property transactions reaching 10,557, according to the Department of Municipalities and Transport (DMT).
DMT’s real estate trading index shows 6,730 real estate purchase and sale transactions worth Dh25.09 billion and 3,827 mortgage transactions worth Dh21.24 billion. The department’s half-yearly report indicates that all kinds of land, buildings, and real estate were purchased, sold, and mortgaged.
Dr Adeeb Al Afifi, Executive Director of the Real Estate Sector at DMT, 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 totaling over Dh46.33 billion. These figures reaffirm the enduring appeal and solid growth potential of our market, positioning Abu Dhabi as an attractive destination for local and global investors.”
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 2023, Al Saadiyat Island topped the list with transactions worth Dh3 billion, with Yas Island coming in at second place with transactions worth Dh2.6 billion. With Dh2.4 billion, Al Reem Island came in third, Al Jubail Island came in fourth with Dh1.5 billion, and Al Shamkha City came in fifth with Dh1 billion.
“As we enter the second half of 2023, we expect to see significant investment opportunities, particularly with the introduction of several new projects that will boost Abu Dhabi’s real estate market,” said, Dr Al Afifi.
Diverse investors from the UAE, GCC, and around the world have continued to boost the emirate’s real estate market.
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