Abu Dhabi recorded property deals worth Dh96.2bn in 2024, data shows
Abu Dhabi recorded real estate deals worth Dh96.2 billion ($26.19 billion) in 2024, as demand for property remains strong in the emirate due to high economic growth. The total value of the deals for the year rose by 10.45 per cent on an annual basis, while the number of transactions increased by 24.2 per cent to 28,249, the Abu Dhabi Real Estate Centre (Adrec) said on Monday. Sales transactions for the period were 16,735, with a total value of Dh58.5 billion, and mortgage transactions reached 11,514, with a total value of Dh37.7 billion. The emirate's property sector also attracted Dh7.86 billion worth of foreign direct investment last year. That marked a 125 per cent increase compared with the previous year, with 2,302 investors from 105 countries, including the US, the UK, Kazakhstan, Russia, France and China. 'The surge in FDI highlights Abu Dhabi's adaptability and resilience in an evolving global economy,' said Rashed Al Omaira, acting director general at Adrec. 'It is a testament to the emirate's forward-thinking policies, investment-friendly environment and world-class infrastructure that ensure sustainable growth.' The UAE's property market continues to perform strongly on government initiatives such as residency permits for retired and remote workers, as well as the expansion of the 10-year golden visa programme and overall growth in the UAE's economy amid diversification efforts. Abu Dhabi's economy grew by 4.5 per cent on a yearly basis in the third quarter of 2024, driven by sustained growth in the non-oil sector, with the value of the emirate's economic output reaching Dh301.8 billion for the period. More to follow ...
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