Abu Dhabi recorded a total of 19,033 transactions worth AED77.6 billion in 2022.
The emirate’s real estate sector recorded 9,010 sales transactions worth AED 23.5 billion and 10,023 mortgage transactions worth AED 54.1 billion, the Department of Municipalities and Transport (DMT) revealed.
Yas Island topped the list with AED 4.2 billion in transactions, followed by Al Reem Island in second place with AED 3.4 billion.
Saadiyat Island came in third with AED 3.1 billion, while Al Shamkha secured deals worth AED 2.1 billion. Zayed City ranked fifth with AED 1 billion in real estate transactions.
.@Abu DhabiDMT Real estate transactions to reach AED77.6 billion in 2022, highlighting #Abu DhabiThe real estate sector plays a key role in the emirate’s economic diversification. pic.twitter.com/br3Rw0hEUx
– Abu Dhabi Media Office (@admediaoffice) March 3, 2023
In 2022, the value of real estate transactions in Abu Dhabi will increase by 8.5% year-on-year, while the number of transactions will increase by 27.2% during the same period.
DMT also announced seven new real estate investment areas in the emirate for 2022, selected for their diversity in project supply, unit design and affordability. With these additions, the total number of investment zones in the emirate will reach 25 by the end of 2022.
These areas will be open to foreign investors, official news agency Wan reports.
“Abu Dhabi’s real estate market has achieved positive results and high growth rates through 2022, driven by a series of government policies and measures. This has not only broadened investment options in the real estate market, but also increased transparency in this important industry. As a result, investor confidence in the real estate market has increased,” said Dr Adeeb Al Afifi, Executive Director, Real Estate Sector, DMT.
Projects in new investment areas
Bloom Holding is developing multiple projects in Abu Dhabi – its blooming life The Zayed City project includes more than 4,500 housing units, including villas, townhouses and apartments.
The first phase – Córdoba – started in March 2022 and is scheduled to be completed in the fourth quarter of 2024. The second phase – Toledo – has also started and is expected to be completed by the second quarter of 2025.
read: Abu Dhabi: Bloom Holding’s Cordoba sold out in four hours
In Al Shamkha, Abu Dhabi, Aldar Properties launched the Al-Reeman 2 project in June 2019. The first phase of construction and development is now 84% complete.
The project’s first phase, which includes the release of 496 plots of land, while its second phase, which includes 1,111 villas, has also been launched.
In Bahia, Yas Hills is developing into a multi-use global community offering Yas Island facilities and transportation points to Abu Dhabi Airport, Dubai and other emirates.
For the Mina Zayed project, Aldar Properties has started developing a site of approximately 1.5 million square meters in the Mina Zayed area.
The Barari Ain Al Faida project is located in Al Ain City and consists of more than 3,000 plots, with green areas accounting for 60% of the total area.
The Gateway project is a residential project in the Sas Al Nakhl area, developed by Eshraq Investment Company in partnership with Northacre.
The Mirzab project in the Al Reef Villas and Al Samha areas was launched in late 2014. The former includes a residential complex of 860 villas.