Abu Dhabi records real estate transactions worth Dhs22.5bn in H1 2022

Abu Dhabi records real estate transactions worth Dhs22.5bn in H1 2022

Roger Pettingell Sarasota Real Estate

Department of Municipalities and Transport (DMT) has reported that Abu Dhabi’s real estate market sustained growth driven by investor optimism, recording 7,474 property transactions amounting to over Dhs22.51bn.

The department’s half-yearly report indicates that all types of land, buildings and real estate were purchased, sold, and mortgaged during this period.

DMT’s real estate trading index shows 3,568 real estate purchase and sale transactions worth Dhs8.9bn and 3,906 mortgage transactions worth Dhs13.61bn.

Dr Adeeb Al-Afifi, executive director of the real estate sector at DMT, said: “Abu Dhabi’s leadership implemented several sound policies and strategic measures to achieve these results.

“Through constant and sustained growth in the real estate sector, Abu Dhabi has maintained its standing as a world-class market and investment destination.”

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 2022, Yas Island topped the list with transactions worth Dhs1.8bn with Al Saadiyat Island coming in at second place with transactions worth Dhs1.2bn. With Dhs1bn, Al Shamkha came in third, Al Reem Island came in fourth with Dhs872m, and the Khalifa City came in fifth with Dhs310m. Al Raha Beach came in sixth with transactions worth Dhs300m.

Al-Afifi added: “As we enter the second half of 2022, we expect to see significant investment opportunities, particularly with the introduction of several new projects that will boost Abu Dhabi’s real estate market.”

Read: Revealed: UAE’s real estate market ranked as top global improvers

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