ABU DHABI, 31st July, 2023 (WAM) — The Department of Municipalities and Transport (DMT) has released its latest report on Abu Dhabi's real estate market, revealing continued growth driven by investor optimism, with a remarkable 10,557 property transactions totaling over AED46.33 billion.
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 AED25.09 billion and 3,827 mortgage transactions worth AED21.24 billion.
Dr. Adeeb Al Afifi, Executive Director of the Real Estate Sector at the 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 reaffirms our market's enduring appeal and solid growth potential, 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 AED3 billion, with Yas Island coming in at second place with transactions worth AED2.6 billion.
With AED2.4 billion, Al Reem Island came in third, Al Jubail Island came in fourth with AED1.5 billion, and Al Shamkha City came in fifth with AED1 billion.
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 that will boost Abu Dhabi's real estate market."
Diverse investors from the UAE, GCC, and around the world have continued to boost the emirate's real estate market.