In a testament to its robust growth, Abu Dhabi’s real estate market witnessed an unprecedented surge, reaching a historic AED87.1bn ($23.7bn) in transactions last year, as reported by the Abu Dhabi Real Estate Centre (ADREC), an esteemed affiliate of the Department of Municipalities and Transport (DMT).
The buying and selling activities soared by an impressive 159.5 per cent compared to 2022, totalling AED61bn ($16.6bn) across 15,653 transactions, marking a significant 73.7 per cent increase from the previous year.
Furthermore, the overall real estate activities, encompassing buying, selling, and mortgage transactions, experienced a notable uptick of 12.2 per cent compared to the preceding year, with a total of 22,751 transactions recorded, reflecting a substantial 19.5 per cent surge from 2022.
ADREC’s findings also shed light on the influx of both resident and non-resident individual investors, illustrating the diversified appeal of Abu Dhabi’s real estate market. The emirate welcomed 9,448 new resident investors, alongside 1,098 non-resident investors, marking remarkable increases of 71 per cent and 175 per cent, respectively, compared to 2022.
The remarkable growth observed in 2023 underscores Abu Dhabi’s unwavering commitment to fostering a thriving real estate landscape, aligning seamlessly with the visionary directives aimed at bolstering the emirate’s global allure as a premier investment destination.
This outstanding performance not only underscores the ongoing achievements but also solidifies Abu Dhabi’s position as an enticing hub for real estate investment, characterized by sustained progress and prospective expansion.
ADREC’s strategic endeavours are geared towards positioning Abu Dhabi as a preeminent global real estate destination, spearheading the growth of its entire real estate ecosystem. These efforts underscore the resilience and potential inherent in the emirate’s real estate sector, attracting a diverse array of local and international investors, thereby cementing its status as a coveted investment destination on the global stage.
Tasked with fortifying Abu Dhabi’s position as the preferred destination for regional and international capital investment, ADREC remains steadfast in its mission to elevate the emirate’s standing within the global real estate arena.
