17 February 2022, Zawya
The Department of Municipalities and Transport today revealed that the UAE capital registered outstanding real estate figures in 2021 with 14,958 transactions.
Abu Dhabi: The Department of Municipalities and Transport today revealed that the UAE capital registered outstanding real estate figures in 2021 with 14,958 transactions tallying to a total value of 71.5 billion dirhams, reflecting the ongoing sustainable development and attractiveness of real estate investments in Abu Dhabi.
As per the Department’s real estate trading indices, the emirate’s real estate sector recorded 7,262 sales transactions worth 18.2 billion dirhams and 7,696 mortgage transactions worth 53.3 billion dirhams.
With 4.1 billion dirhams in real estate transactions, Yas Island topped the list, followed by Al Reem Island in second place with 3.2 billion dirhams. With 2.5 billion dirhams, Saadiyat Island came in third, the Forest Belt Al Jarf project came in fourth with 1.1 billion dirhams, and Khalifa City came in fifth with 915 million dirhams.
H.E. Dr. Adeeb Al Afifi, Executive Director of Real Estate at DMT, highlighted that Abu Dhabi’s real estate market had continued its sustainable growth. He said, “The UAE capital has recorded very positive real estate transaction indicators over the past year, which is a testament to investors’ confidence in the city. We look forward to providing more distinctive and innovative services and providing periodic data and information that will undoubtedly enhance the attractiveness of the Abu Dhabi real estate market.”
About the Department of Municipalities and Transport (DMT)
The Department of Municipalities and Transport was established by Law No. 30 of 2019, and its main priorities are to realize the vision of H.H. Sheikh Khalifa bin Zayed Al Nahyan, President of the United Arab Emirates and Ruler of Abu Dhabi, which draws on the vision of the UAE’s Founding Father, the late Sheikh Zayed bin Sultan Al Nahyan to embrace progress by placing great value on the importance of pursuing development in line with both the needs of present and future generations and the community in general.
The authority embodies the values of good governance, driven by the needs of the community it serves and working with a passion to accomplish its aims. The Department focuses on finding the most effective means of providing essential, modern, responsive and comprehensive municipal services across three regional municipalities, and supports Abu Dhabi’s global position as a leader in innovation-led urban planning and transportation, as part of the Abu Dhabi government’s commitment to maintaining the highest standards to the benefit of all citizens and residents of the emirate.
The DMT is responsible for continually investing in the development of better infrastructure, facilities and transportation sectors within the emirate, guiding, regulating and monitoring urban development to enhance Abu Dhabi’s reputation as a world-class destination to live, work and visit.
The DMT also ensures the highest standards of safety, security, sustainability and technological development of the Emirate of Abu Dhabi’s land, air and maritime transport networks, in accordance with the highest international standards and the UAE’s legislation with the objective of being the region’s connection to the world.
The Department’s aspirations are driven by the simple proposition of innovating and building sustainable smart cities, fostering a capacity to change and adapt in order to maintain excellence in services and sustaining prosperity for future generations, allowing the entire Abu Dhabi community to reach their full potential.