The Department of Municipalities and Transport (DMT) said that the UAE capital’s real estate market saw 3,304 transactions in the first quarter of 2022, with a total value of AED11.3 billion.
The transactions included the buying, selling, and mortgages of all types of lands, structures, and real estate, according to the department’s quarterly report. The real estate industry in the emirate registered 1,722 real estates buy and sell transactions worth AED4.35 billion and 1,582 mortgage transactions for AED6.9 billion, according to DMT’s real estate trading index.
With AED1.2 billion in real estate sales, Yas Island led the list, followed by Al Saadiyat Island in second place with AED673 million. Al Reem Island was third with AED598 million, Khalifa City was fourth with AED173 million, and the Al Raha Beach area was fifth with AED168 million. Finally, Al Shamkha landed in sixth place, with real estate transactions totaling AED150 million.
Dr. Adeeb Al Afifi, Executive Director of the Real Estate Sector at the Department of Municipalities and Transport, said, “With steady and sustained growth in Abu Dhabi’s real estate sector, the emirate has maintained its position as one of the world’s most sought-after markets and destinations for real estate investment.
“With excellent infrastructure, a diverse range of options, and world-class services, Abu Dhabi’s real estate industry strengthens its position as one of the best places in the world to live, work, and visit.”