Property transactions in Abu Dhabi in the first six months of 2023 total more than AED 46B (USD 12.5B)

The Department of Municipalities and Transport (DMT) has published a report that presents data on real estate purchases made in the first half of 2023. During this period, a total of 10.5K transactions were concluded in Abu Dhabi with an overall value of AED 46.B (USD 12.B). These high figures are explained by the popularity of the emirate among investors.

There were 6.7K deals worth AED 25B (USD 6.8B) for the purchase of real estate, and 3.8K deals with a value of more than AED 21B (USD 5.7B)for transactions involving mortgages.

According to Dr. Adib Al Afifi, Executive Director of the Real Estate Sector at the Department of Municipalities and Transport (DMT), Abu Dhabi’s real estate market keeps growing and shows steady demand, driven by investors’ attention. The strong performance confirms the popularity of this sector and establishes the emirate as an attractive location for both local and international buyers.

The most popular neighbourhoods in terms of the number and value of transactions in Abu Dhabi are as follows:

• Saadiyat Island — AED 3B (USD 817M)
• Yas Island — AED 2.6B (USD 708M)
• Al Reem Island — AED 2.4B (USD 653M)
• Al Jubail Island — AED 1.5B (USD 408M)
• Al Shamkha City — AED 1B (USD 272M)

Dr. Adib Al Afifi also revealed that favourable investment opportunities are expected in the second half of 2023. This is associated with the creation of new projects that will contribute to the development of the emirate’s real estate market.