Celebrations for UAE National Day of 2022
Our company, Metropolitan Capital Real Estate, has registered the most successful Q3 in history. More than AED 500,000,000 (USD 136,000,000) were registered in sales over this period, which shows a 200% increase from 2021.
The record sales took place in August and September 2022. The total value of transactions in August 2022 reached over AED 150,000,000 (USD 41,000,000), which is 180% higher in comparison to August 2021, while over AED 250,000,000 (USD 68,000,000) were registered in sales in September, which was a 200% increase compared to the same period of time last year.
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Evgeny Ratskevich, CEO of Metropolitan Capital Real Estate, has explained that the real estate market within the Emirati capital has become a popular location for investors and residents in the past year. As he mentioned, the summer is usually quiet, but this year the real estate market in the Emirati capital saw significant activity with UAE nationals and residents, with the majority of Metropolitan Capital Real Estate transactions in Q3. He mentioned that off-plan transactions were extremely popular, however, the secondary real estate market has also seen high demand among future owners. Among the locations that have attracted people most, and led to 80% of the company’s sales, still remain as Yas Island, Saadiyat Island, Al Reem Island, Khalifa City and Al Raha Beach.
Historically, the real estate market of the Emirati capital has been driven by those living in Abu Dhabi, as 80% of purchases were made by local citizens and residents. However, international buyers, who are looking for new experiences, as well as business and investment opportunities, are choosing the Emirati capital more and more often.
Metropolitan Capital Real Estate saw a significant increase in business from international clients, as 70% of transactions came from foreigners. Investors who were interested in Abu Dhabi real estate units were mostly business owners and senior executives from Western European countries and CIS (Commonweath of Independent States). Between the months of January to April 2022, the company has seen a 50% growth in the number of foreign buyers, and about 90% of them chose to move to the Emirati capital with their families.
Among the latest launches, which have already become popular among investors, you can consider Parkside A by Al Markaz Development and Sunset Valley by Q Properties, located on Al Reem Island, and Yas Park Gate by Aldar Properties on Yas Island.
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