Abu Dhabi Real Estate Centre records 24.2% growth in real estate transactions valued at AED96.2bln in 2024
Abu Dhabi, UAE: The Abu Dhabi Real Estate Centre (ADREC) has reported a 24.2 per cent increase in real estate transactions in 2024 compared to the previous year.
The emirate's real estate market continues to demonstrate resilience and diversity, positioning itself as a premier destination for global investors. With a focus on catering to varied preferences, the sector has expanded its portfolio with a comprehensive range of unit sizes and investment options. This strategic approach resulted in 28,249 transactions in 2024, representing a 10.45 per cent surge in total value, reaching AED96.2 billion.
The sector recorded 16,735 sales transactions valued at AED58.5 billion and 11,514 mortgage transactions worth AED37.7 billion.
In 2024, Abu Dhabi launched 38 new real estate projects for off-plan sales, alongside the completion of 12 major developments. These projects were strategically selected for their diverse offerings, innovative designs and affordability, appealing to a broad spectrum of investors.
Engineer Rashed Al Omaira, Acting Director General at ADREC, said: 'The sustained growth of Abu Dhabi's real estate market over the past decade reflects a strategy that prioritises market stability.
'Abu Dhabi's inclusion among the top five global improvers in the 2024 Global Real Estate Transparency Index (GRETI) by JLL underscores our commitment to fostering transparency and trust within the sector.'
ADREC also reported a remarkable 125 per cent year-on-year increase in foreign direct investment (FDI), with the sector attracting over AED7.86 billion in 2024. Contributions came from 2,302 investors across 105 countries, including the United States, the United Kingdom, Kazakhstan, Russia, France and China.
Al Omaira said: 'The surge in FDI highlights Abu Dhabi's adaptability and resilience in an evolving global economy. It is a testament to the emirate's forward-thinking policies, investment-friendly environment, and world-class infrastructure that ensure sustainable growth.
'At ADREC, we are committed to reinforcing Abu Dhabi's position as a global investment hub and a model for urban living. Our real estate sector is a cornerstone of the emirate's economic vision, driving sustainable development and enhancing quality of life for residents through innovative, high-quality projects.'
With its strategic initiatives and unwavering focus on investor confidence, ADREC will continue to strengthen Abu Dhabi's standing as a preferred destination for property investments, offering unparalleled opportunities and long-term value.
For media inquiries, please contact:
Amer Rashed Albedwawi
Email: amer.albedwawi@dmt.gov.ae
Phone : +971 55 554 5571
Heba Al Haj
Email: heba.hajj@bcw-global.com
Phone: +971 50 933 6130
About The Abu Dhabi Real Estate Centre (ADREC)
The Abu Dhabi Real Estate Centre (ADREC), launched by the Department of Municipalities and Transport in November 2023, aims to enhance Abu Dhabi's position as a global real estate hub and increase the sector's contribution to the non-oil economy. ADREC leads a significant transformation in Abu Dhabi's real estate sector, centred around four key pillars: Real Estate Strategy, Real Estate Promotion, Real Estate Regulation, and Real Estate Transactions Management.
ADREC's focus is on advancing the sector's ecosystem while giving priority to the well-being of tenants, homeowners, developers, and investors. This involves streamlining processes and enhance regulatory frameworks, while utilising advanced technologies to provide sustainable and seamless services.
Collaborating closely with all stakeholders, the centre aims to elevate development standards and overall liveability in Abu Dhabi.
Moreover, ADREC focuses on innovation, exploring groundbreaking technologies. This comprehensive approach highlights ADREC's commitment to transparency, innovation, and collaboration, positioning Abu Dhabi as an attractive global destination.
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