Abu Dhabi’s Q1-2024 Real estate Transactions records AED 15.9 billion
by ankita on May 3, 2024
Abu Dhabi real estate market has been experiencing steady growth and expected to continue its upward trajectory in 2024 and to deliver a strong performance even under inflationary pressures.
The real estate sector of Abu Dhabi has demonstrated its strength and energy by starting 2024 with a bang. In the first quarter alone, it saw transactions worth AED 15.9 billion being recorded — an astonishing achievement that highlights the market’s staying power and sets the stage for a bright future in the coming months.
Abu Dhabi’s branded residences, high quality lifestyle oriented real estate lure investors.
Abu Dhabi stands as a contemporary cosmopolis with awe-inspiring skyscrapers, expansive theme parks, adventurous locales, and beachfront retreats.
Real estate developers such as Al Dar Properties, Bloom, Modon announced incredible mega projects in Abu Dhabi since the beginning of Q1-2024.
According to the recent data, Abu Dhabi saw a significant growth in property transactions in the Q1- 2024. According to data from the DARI platform of the Department of Municipalities and Transport (DMT) in Abu Dhabi, the emirate logged:
2,919 sales and purchases transactions in Q1 2024 totalling over AED9.6 billion. This includes 1,167 ready-made real estate units and 1,752 off-plan units.
Abu Dhabi can expect modest price increases in freehold villa communities and stable apartment prices. And with the expectation of lower mortgage rates this year, this could potentially lead to a boost in mortgage transactions and reduced off-plan sales.
Photo source: https://www.independent.co.uk
The reason for this incredible performance is that the government took some initiatives to promote growth and improve the business environment. They simplified regulations, procedures and offered incentives for investments; all of which created a favorable atmosphere for real estate development and transactional undertakings in the emirate.
Furthermore, Abu Dhabi’s strategic positioning as a global hub for commerce, tourism, and culture has bolstered demand for both residential and commercial properties. The Emirate’s diverse economy, coupled with its world-class infrastructure and amenities, continues to attract a steady influx of residents, expatriates, and businesses seeking growth opportunities and an exceptional quality of life.
Invest in Abu Dhabi
Abu Dhabi’s booming real estate market presents many investment opportunities for local and foreign investors. With its strategic location and business-friendly regulations, Abu Dhabi is emerging as a top investment destination in the Middle East.
Rental market in Abu Dhabi
Rental market in Abu Dhabi is experiencing fluctuations creating an array of opportunities emerging for both tenants and investors, highlighting an upwardly mobile year for the real estate sector in the UAE’s capital.
Launches of new projects
Developers are rolling out new projects which includes both villa and apartment projects with flexible payment plans
Sustainable development
Increasing awareness of environmental concerns and regulatory initiatives are driving more demand in real estate for eco-friendly constructions.
Technology integration
Embracing technological innovation in its real estate sector, enhances efficiency, transparency and security in property transactions.
Abu Dhabi real estate market presents a compelling mix of opportunities for investors, developers and residents.
In summary, Abu Dhabi’s stellar first quarter 2024 performance in real estate dealings highlights the city’s durability, liveliness and attractiveness as a top investment choice. Through strategic government programs, strong demand and a dedication to new ideas, the emirate is still on track for long-term economic success and development.
