Go to Search

Property transactions in Abu Dhabi amount to more than AED 22.5B (USD 6B) in the first half of 2022

Against the backdrop of general hyperactivity within the UAE real estate sector in recent years, the first half of 2022 had a high volume of transactions in Abu Dhabi, which exceeded AED 22.5B (USD 6B).

According to the Department of Municipalities and Transport, most of the recorded deals were registered in Yas Island with a total of AED 1.8B (USD 490M), followed by Saadiyat Island with AED 1.2B (USD 327M).

Other areas that recorded significant transactions include Al Shamkha with AED 1B (USD 272M), Al Reem Island with AED 872M (USD 237M), Khalifa City with AED 310M (USD 84M), and Al Raha Beach with AED 300M (USD 81M).

The emirate of Abu Dhabi had 7,474 transactions, including buildings, land plots, and properties, that were sold, purchased, and mortgaged.

In a recent statement made on Wam, Adeeb Al Afifi, the department’s real estate executive director, said that the government of Abu Dhabi implemented several strategic measures and policies to achieve these results. New policy reforms introduced by the UAE authorities make it easy for foreign investors to enter the Gulf nation as a part of the state’s aim to attract more people to live and work in the UAE. For example, Abu Dhabi announced grants of a one-year lease exemption for 1,200 economic activities, which constitutes 29.5% of the total number of businesses. It will ensure ease of doing business and entrepreneurship in the emirate of Abu Dhabi.

Al Afifi also added that they expect significant investment opportunities in Abu Dhabi’s real estate market in the second half of 2022, particularly with the introduction of several new projects.

The real estate sector plays the most important role in this economic strategy. The number of real estate transactions in other emirates, such as Dubai and Ras Al Khaimah, is also skyrocketing in recent months.

Rate the article:

  1. 5
  2. 4
  3. 3
  4. 2
  5. 1

Popular articles

Latest News

Our newsletter

Sign up for our weekly newsletter for market updates!