Abu Dhabi records over AED 22.5 billion total of real estate transactions in first half of 2022
- Confidence among investors indicates the market’s attractiveness and a sustainable growth trajectory.
- With the launch of various new projects, the remaining months will show a rising investment surge.
Abu Dhabi, 22 July 2022:As per the latest report released by the Department of Municipalities and Transport (DMT), Abu Dhabi’s real estate market sustained growth driven by investor optimism, recording 7,474 property transactions amounting to over AED 22.51 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 3,568 real estate purchase and sale transactions worth 8.9 billion dirhams and 3,906 mortgage transactions worth 13.61 billion dirhams.
His Excellency Dr Adeeb Al-Afifi, Executive Director of the Real Estate Sector at the Department of Municipalities and Transport, 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 AED 1.8 billion with Al Saadiyat Island coming in at second place with transactions worth AED 1.2 billion. With one billion dirhams, Al Shamkha came in third, Al Reem Island came in fourth with 872 million dirhams, and the Khalifa City came in fifth with 310 million dirhams. Al Raha Beach came in sixth with transactions worth 300 million dirhams.
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.”
Diverse investors from the UAE, GCC, and around the world have continued to boost the emirate’s real estate market.
About the Department of Municipalities and Transport (DMT)
The Department of Municipalities and Transport was established by Law No. 30 of 2019, and its main priorities are to realize the vision of the leadership which draws on the vision of the UAE’s Founding Father, the late Sheikh Zayed bin Sultan Al Nahyan to embrace progress by placing great value on the importance of pursuing development in line with both the needs of present and future generations and the community in general.
The authority embodies the values of good governance, driven by the needs of the community it serves and working with a passion to accomplish its aims. The Department focuses on finding the most effective means of providing essential, modern, responsive and comprehensive municipal services across three regional municipalities, and supports Abu Dhabi’s global position as a leader in innovation-led urban planning and transportation, as part of the Abu Dhabi government’s commitment to maintaining the highest standards to the benefit of all citizens and residents of the emirate.
The DMT is responsible for continually investing in the development of better infrastructure, facilities and transportation sectors within the emirate, guiding, regulating and monitoring urban development to enhance Abu Dhabi’s reputation as a world-class destination to live, work and visit.
The DMT also ensures the highest standards of safety, security, sustainability and technological development of the Emirate of Abu Dhabi’s land, air and maritime transport networks, in accordance with the highest international standards and the UAE’s legislation with the objective of being the region’s connection to the world.
The Department’s aspirations are driven by the simple proposition of innovating and building sustainable smart cities, fostering a capacity to change and adapt in order to maintain excellence in services and sustaining prosperity for future generations, allowing the entire Abu Dhabi community to reach their full potential.
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