According to the Department of Municipalities and Transport (DMT), 19,033 real estate transactions of AED77.6 billion were reported in the UAE capital in 2022.
The real estate market in the emirate saw 9,010 sales transactions for AED 23.5 billion and 10,023 mortgage transactions worth AED 54.1 billion, according to reports from the department.
Al Reem Island came in second with sales worth AED3.4 billion, while Yas Island came out on top with transactions totaling AED4.2 billion. Saadiyat Island came in third with AED3.1 billion, followed by Al Shamkha in fourth place with AED2.1 billion. With AED 1 billion, Zayed City finished fifth overall.
In comparison to 2021, the Abu Dhabi real estate market saw great growth and performance in 2022. While the quantity of real estate transactions increased by 27.2 percent, their value increased by 8.5 percent during the same time. This development reflects the Emirate’s tenacity and highlights the crucial contribution of Abu Dhabi’s real estate market to the diversification of the UAE’s economy.
Seven new real estate investment locations in the Emirate of Abu Dhabi have also been revealed by DMT for 2022. These investment opportunities have been selected because they appeal to a wide range of investors with different preferences because of their diversity in project offerings, unit designs, and pricing.
By the end of 2022, the emirate will have 25 investment zones, a considerable increase due to the recently declared investment zones. Foreign investors will have access to these zones, opening up a wider range of investment prospects for them.
These investment zones provide a competitive edge, flexible markets, and excellent infrastructure because of their excellent position. They also offer a safe and stable atmosphere, which makes them perfect for anybody looking to settle, work, or invest in the area.
Dr. Adeeb Al Afifi, Executive Director of the Real Estate sector at DMT, said, “In 2022, the real estate market in Abu Dhabi has sustained positive outcomes and high growth rates, thanks to a range of government policies and measures. This has not only broadened investment options in the real estate market but has also increased transparency in this vital sector. As a result, investor confidence in the real estate market has strengthened, enhancing Abu Dhabi’s position as one of the most attractive global destinations for real estate investment.”
Al Afifi added, “At the Department of Municipalities and Transport, we are committed to investing in resources and devising necessary solutions to provide a sustainable, developed, and integrated infrastructure that meets the societal needs for facilities and services, while also enhancing the overall style and quality of life. Our focus is to establish and implement standardised procedures and laws, which are an extension of our leadership’s vision, and contribute to the growth of the real estate sector while enhancing economic growth in Abu Dhabi.”
The initiatives in Abu Dhabi’s newest real estate investment districts include:
The Emirate of Abu Dhabi’s projects is located in a number of important locations. In Abu Dhabi, Bloom Holding is working on a number of projects. The first is the “Bloom Living” project in Zayed City, a cutting-edge residential development with a variety of facilities and services. There are around 4,500 homes there, including apartments, townhouses, and villas.
Cordoba, the first phase, is expected to be finished by the fourth quarter of 2024 after being launched in March 2022. Toledo, the second phase, has already begun and is planned to be finished in the second quarter of 2025.
Aldar Properties began construction on the Al-Reeman 2 project in Al Shamkha, Abu Dhabi, in June 2019. At this point, the initial stage of development and construction work—which included substation structural work and internal road paving—is 84 percent finished. A pumping station for irrigation water is being built, and construction is still going on.
The first stage of the project involved releasing 496 land parcels. The second phase has begun construction and will feature 1,111 villas with a variety of layouts and designs. As part of the project’s master plan, these villas are offered to buyers of all nationalities and are anticipated to be delivered by the fourth quarter of 2025.
Yas Hills, which is being developed as an upscale, multi-use global community in Al Bahia, offers access to Yas Island’s amenities as well as connectivity to transit hubs for Dubai, Abu Dhabi Airport, and other neighboring emirates.
Aldar Properties has started developing land plots totaling about 1.5 million square meters in the Mina Zayed region for the Mina Zayed project. The waterfront destination offered by this project combines residential, business, cultural, and tourist amenities.
The Barari Ain Al Faida project is a prestigious development located in Al Ain City next to Jebel Hafeet and the Green Mubazzarah. Almost 3,000 plots make up the project, with 60 percent of the overall area being taken up by green spaces.
Also, it has gardens, cutting-edge facilities, schools, clinics, mosques, and shopping malls. The project is close to the proposed Avenue Mall project, which is planned for construction.
Eshraq Investment Corporation and “Northacre” worked together to create the upscale residential property known as The Gateway in the Sas Al Nakhl neighborhood. The project, which consists of roomy residential and commercial structures, is adjacent to retail shopping malls, luxury hotels, and other facilities.
By the end of 2014, two developments in the Al Samha area—Al Reef Villas and Mirzab—began construction. The Al Reef Villas project consists of a residential complex with 860 villas, specific amenities, a large amount of green space, and well-established road networks.
All necessary planning and construction approvals have been received for the Mirzab project. 739 different housing units in 19 residential buildings with a ground floor and three stories make up this complex.