Metropolitan Capital Real Estate posts record Q3 sales in Abu Dhabi
The Metropolitan Group announced the registration of its two real estate companies, Dubai-based Metropolitan Premium Properties and Abu Dhabi-based Metropolitan Capital Properties, real estate transactions worth a total of 2.2 billion dirhams in the first half of 2021, a 3-fold increase compared to the same period last year.
Among the largest real estate deals concluded by the Metropolitan Group, the sale of two penthouse apartments in the “W Residence” complex on Palm Jumeirah, at a value of 102 million dirhams to the same buyer.
The Metropolitan Group recorded more than 1,000 real estate deals in the first half, with off-plan sales increasing by 200% and secondary sales by 300% compared to the first half of 2020. Nikita Kuznetsov, Partner at Metropolitan Group and CEO of Metropolitan Premium Properties said:
Dubai has emerged as one of the safest and most open cities in the world, which has given residents and investors great confidence in its real estate market. These numbers are a clear indication of investor confidence in the UAE economy, which has taken positive steps with the launch of a successful vaccination program, as well as innovative visa and residency solutions. We have seen strong demand for luxury properties from foreign investors.
30% of our deals last year were with international clients, especially from the CIS, the UK and other parts of Europe, including France, Germany and Austria, and this year we have seen a continuation of that trend.
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