Abu Dhabi’s real estate market has shown remarkable strength in the first quarter of the year, with transactions totaling nearly AED16 billion ($4 billion). This surge in activity reflects the emirate’s growing appeal as a prime location for real estate investment. According to data from the Department of Municipalities and Transport, over 5,000 sales and mortgage transactions were recorded in Abu Dhabi during this period, underscoring the sector’s robust performance.
The transactions encompassed a mix of 1,000 ready-made real estate units and 1,700 off-plan properties, demonstrating a healthy balance between immediate and future property investments. Additionally, over 2,000 mortgage deals, valued at almost AED6.5 billion, were secured in the first quarter, signifying strong investor confidence in the emirate’s real estate market.
This upward trend in real estate transactions coincides with the announcement of the AED4 billion Bada Al Jubail project by Jubail Island Investment Company (JIIC) on Jubail Island. This new beachfront community is expected to add further value to Abu Dhabi’s already vibrant property landscape.
Notably, the past week saw top real estate transactions on Saadiyat Island and Yas Island, particularly involving projects by Aldar Properties. Yas Island recorded transactions worth over AED23 million, while a deal on Saadiyat Island reached AED14 million. These high-value transactions highlight the continued demand for premium real estate in Abu Dhabi’s most sought-after locations.
The momentum in Abu Dhabi’s real estate sector is not new. In 2023, the residential sector in Abu Dhabi recorded one of its best years, with a total of 11,200 units sold across the capital. This represented an 83 percent increase year-on-year, as reported by real estate services firm Savills.
The first quarter of 2024’s robust real estate performance in Abu Dhabi reflects the emirate’s ongoing appeal to investors and homeowners alike. With new projects like Bada Al Jubail adding to its allure, the real estate market in Abu Dhabi is poised for continued growth and dynamism, offering diverse opportunities for both local and international investors.
