• Fri. Feb 23rd, 2024

    Abu Dhabi Real Estate Market Booms in 2024 with Over AED5 Billion in Transactions

    Abu Dhabi Real Estate Market Booms in 2024 with Over AED5 Billion in Transactions

    The real estate market in Abu Dhabi is experiencing a major upswing in the year 2024, with transactions amounting to over AED5 billion in the first month alone. This surge in activity is a testament to the growing appeal of the emirate as an investment destination.

    According to the “DARI” platform, which is affiliated with the Department of Municipalities and Transport in Abu Dhabi, real estate mortgages reached approximately AED2.6 billion through 635 registered mortgage deals. Furthermore, sales transactions have exceeded AED2.5 million, with 751 deals recorded so far. These sales are a mix of ready properties and off-plan units, with 363 properties being ready for occupation and 388 units in the planning stages.

    One notable highlight from the platform is the largest transactions in Abu Dhabi city over the past week. The prestigious Mohamed bin Zayed City topped the list with a transaction value of AED16.6 million for the renowned “Prestige Tower.” Following closely is Saadiyat Island with a transaction value of AED12.7 million for the sought-after “Mamsha Al Saadiyat.”

    The remarkable growth in the Abu Dhabi real estate sector can be attributed to the incentives and high-quality projects launched by the Department of Municipalities and Transport. Alongside these initiatives, real estate entities in Abu Dhabi have also contributed to the city’s development, making it an attractive environment for both local and foreign investors. This has ultimately boosted the global competitiveness of the sector.

    As the year progresses, it will be interesting to see how the Abu Dhabi real estate market continues to evolve. The significant transactions recorded in the first month of 2024 demonstrate the confidence and momentum in the sector, making Abu Dhabi an exciting destination for investors looking for profitable opportunities in the real estate market.

    FAQ:

    Q: How much were the real estate transactions in Abu Dhabi in the first month of 2024?
    A: The transactions amounted to over AED5 billion.

    Q: How much were the real estate mortgages in Abu Dhabi in the first month of 2024?
    A: Real estate mortgages reached approximately AED2.6 billion through 635 registered mortgage deals.

    Q: How many sales transactions were recorded in Abu Dhabi in the first month of 2024?
    A: 751 sales deals were recorded so far.

    Q: What types of properties were sold?
    A: The sales are a mix of ready properties and off-plan units.

    Q: How many properties were ready for occupation?
    A: 363 properties were ready for occupation.

    Q: How many units were in the planning stages?
    A: There were 388 units in the planning stages.

    Q: What were the notable transactions in Abu Dhabi city?
    A: The Prestige Tower in Mohamed bin Zayed City had a transaction value of AED16.6 million, and Mamsha Al Saadiyat in Saadiyat Island had a transaction value of AED12.7 million.

    Q: What factors have contributed to the growth in the Abu Dhabi real estate sector?
    A: The growth can be attributed to incentives and high-quality projects launched by the Department of Municipalities and Transport, as well as contributions from real estate entities in Abu Dhabi.

    Q: What impact has the growth in the real estate sector had on the city?
    A: The growth has made Abu Dhabi an attractive environment for both local and foreign investors and has boosted the global competitiveness of the sector.

    Definitions:

    – AED: Abbreviation for the United Arab Emirates Dirham, the currency of the United Arab Emirates.

    Suggested Related Links:

    Department of Municipalities and Transport in Abu Dhabi
    Abu Dhabi Real Estate