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Abu Dhabi: Abu Dhabi’s real estate sector recorded property sales and mortgage loans worth AED27.9 billion in the first quarter of this year, up 147 percent, the Ministry of Municipalities and Transport said on Wednesday.
As many as 5,472 transactions (sales and mortgages) were carried out during the period, compared to 3,304 transactions worth AED11.3 billion in the same period last year.
Dr. Adeeb Afifi, Executive Director, Real Estate Sector, DMT, said: “Abu Dhabi’s real estate sector has shown strong growth momentum in the first quarter of 2023. The growth in the number of transactions and their total value is evidence that despite global economic uncertainties, the The industry remains resilient. The increase in the number of transactions also reflects investor confidence in the Abu Dhabi real estate market.”
The real estate sector recorded 3,518 property purchase and sale transactions worth AED 16.2 billion, compared to 1,722 transactions worth AED 4.4 billion in the first quarter of last year, indicating a 268% increase in the value of property sales and a 104% increase in the number of transactions .
DMT also saw a significant increase in the value and volume of mortgage transactions during the period, with 1,954 mortgage loans worth AED11.7 billion recorded between January and March 2023, compared to 1,582 transactions worth AED1. 6.9 billion dirhams.
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