Abu Dhabi Real Estate Secures Record $493M FDI in Q1 2024

In the first quarter of 2024, Abu Dhabi’s real estate industry has seen unprecedented amounts of foreign direct investment, totaling AED 1.81 billion ($493 million).

According to the Abu Dhabi Real Estate Centre (ADREC), 487 individual investors contributed to this influx. Key investors hailed from diverse countries, including India, Russia, Canada, the UK, Jordan, and China. Their investment levels showed a marked increase from the same period last year.

The performance of Abu Dhabi’s real estate market in the first three months of the year underscores the sector’s increasing appeal to international investors. The growth on show offers encouraging signs for the remainder of 2024, and ADREC stands ready to provide seamless services and support to all stakeholders connected to Abu Dhabi’s globally competitive real estate sector.

In Q1, Abu Dhabi saw real estate transactions amounting to AED 19.4 billion, spanning 6,070 transactions. Of this, AED 12.8 billion was from sales and purchases, accounting for 66 percent of the total volume with 3,724 transactions. Additionally, mortgage transactions totaled AED 6.6 billion across 2,328 deals.

ADREC, an affiliate of the Department of Municipalities and Transport – Abu Dhabi (DMT), highlighted the investor confidence in the market and its critical role in the emirate’s broader economic diversification strategy.

Booming UAE Market

Recent data from Statista projects that the UAE real estate market will reach a value of AED 2.6 trillion by the end of 2024.

ValuStrat‘s forecast predicts that Abu Dhabi’s residential capital values will increase by 3 to 5 percent in 2024, driven by strategic expansion phases. This growth is expected to particularly impact freehold villa communities, which may see modest price increases, while apartment prices are likely to remain stable.

Additionally, the Abu Dhabi property sector may witness a surge in demand for office properties, especially Grade-A office spaces, further highlighting the market’s dynamic growth potential.

Original article reference: Economy Middle East.


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