Q1 Sees $4.32B Real Estate Transactions in Abu Dhabi

In the first three months of 2024, Abu Dhabi’s real estate market saw tremendous levels of activity, recording an impressive AED15.9 billion (approximately $4.32 billion) in sales. This period saw 5,127 combined sales and mortgage dealings across a variety of property types.

Data sourced from Abu Dhabi’s Department of Municipalities and Transport (DMT) via the DARI platform, revealed 2,919 sales and purchase transactions worth over AED9.6 billion ($2.61 billion). The breakdown of these transactions included 1,167 transactions for ready properties and 1,752 for off-plan properties.

The first quarter also saw 2,208 mortgage transactions within the emirate, amassing a total of AED6.3 billion in value.

The highest recent transactions were recorded on Yas Island and Al Saadiyat Island, involving prestigious Aldar Properties projects. Yas Island’s transactions topped at AED23.5 million, while Al Saadiyat Island saw deals worth AED 14.3 million.

January 2024 alone experienced a significant spike in real estate dealings, with transactions surpassing the AED5 billion mark ($1.36 billion). This included a mix of 1,386 sales and mortgage transactions across a wide range of property types, representing a strong start to the year for Abu Dhabi’s real estate sector.

Original article reference: Economy Middle East.

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