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Abu Dhabi’s real estate market recorded 4,441 transactions in the third quarter totalling US$5.7 billion (AED21.04 billion), according to the Ministry of Municipalities and Transport, showing strong growth in the sector.
As the market continues to recover from the pandemic-induced slowdown, the emirate recorded 1,995 sales worth AED5.39 billion and 2,446 mortgage transactions worth AED15.64 billion.
In contrast, Transactions in the third quarter of 2021 The total amounted to AED 16.2 billion.
Adib Al Afifi, Executive Director of DMT’s Real Estate Division, said: “The real estate market in the Emirate of Abu Dhabi continues to deliver outstanding results and sustained and sustainable growth.
“By providing more options for investment in the real estate market and increasing transparency in this important sector, it helps to strengthen Abu Dhabi’s global position as one of the most profitable real estate investment destinations.”
Yas Island It topped the list with a transaction value of 1 billion dirhams ($272 million).followed by saadiyat i. The transaction value for the July-September period was AED 929 million.
Al Shamkha came third at Dh6.41, followed by Reem Island at Dh541m, Khalifa City at Dh208m and Mohamed bin Zayed City at Dh182m.
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The UAE economy, which has rebounded strongly from last year’s pandemic-induced slowdown, has picked up pace this year. The Arab world’s second-largest economy will grow by 5.4 percent this year, according to the UAE Central Bank.
Business activities in the UAE non-oil private sector economy Conditions continued to improve in October as new business and output climbed, as well as increased demand and employment.
Seasonally Adjusted S&P Global Purchasing Managers’ Index It climbed to 56.6 in October from 56.1 in September. Neutral readings above 50 indicate growth, while readings below neutral indicate contraction.
DMT said in July that Abu Dhabi 7,474 property transactions recorded It was worth more than AED 22.51 billion in the first six months of this year.
Major real estate projects have been launched in the capital this year, including Aldar Properties’ Saadiyat Lagoon, Yas Park gate and Grove District on Saadiyat Island.
Other items include Mount Rem on Rem Island, bloom lifenear Abu Dhabi International Airport, Phase II Imkan’s Riviera Development On the coast between Abu Dhabi and Dubai.
Updated: November 14, 2022 9:45am
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