Abu Dhabi real estate transactions hit $1.36bln in January 2024

Abu Dhabi real estate transactions hit $1.36bln in January 2024

05 February 2024, ZAWYA

Real estate transactions in the Emirate of Abu Dhabi amounted to over AED5 billion in the first month of 2024, comprising 1,386 transactions of sales and mortgages on various types of real estate units.

According to the “DARI” platform, affiliated with the Department of Municipalities and Transport in Abu Dhabi, the value of real estate mortgages in the emirate reached about AED2.6 billion through registering 635 mortgage deals. The total value of sales since the beginning of the current year until today exceeded AED2.5 million, representing 751 sales transactions, distributed among 363 ready properties and 388 off-plan.

The platform highlighted the largest transactions for Abu Dhabi city by value in the past week. Mohamed bin Zayed City topped the list with a value of AED16.6 million for “Prestige Tower”, followed by Saadiyat Island with AED12.7 million for “Mamsha Al Saadiyat”.

The real estate sector in Abu Dhabi is on an upward trajectory, supported by incentives and quality real estate projects launched by the department, in addition to various projects initiated by real estate entities in Abu Dhabi. These initiatives have solidified its position as an attractive environment for both local and foreign investors, enhancing the sector’s global competitiveness.

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