Abu Dhabi real estate market saw over $6bn in transactions in H1, 2022

Yas Island, Al Saadiyat Island and Al Shamkha were the top three areas in terms of number and value of real estate transactions in the emirate

According to the Department of Municipalities and Transport (DMT), in H1 the Abu Dhabi real estate market recorded 7,474 property transactions totaling over $6.12bn. The DMT said the confidence amongst investors indicates the market's attractiveness and a sustainable growth trajectory.

The DMT's half-yearly report highlights land, buildings, and real estate that was purchased, sold, and mortgaged. The authority's real estate trading index also showed 3,568 real estate purchase and sale transactions worth $2.42bn and 3,906 mortgage transactions worth $3.7bn.

"Abu Dhabi's leadership implemented several sound policies and strategic measures to achieve these results. Through constant and sustained growth in the real estate sector, Abu Dhabi has maintained its standing as a world-class market and investment destination," explained Dr Adeeb Al Afifi, the Executive Director of the Real Estate Sector at the DMT.

In July 2022, Abu Dhabi launched a $2.72bn drive to expand its manufacturing sector to over $46bn.

In the list of top five areas in terms of the number and value of real estate transactions in Abu Dhabi during the first six months, Yas Island topped the list with transactions worth $490mn, followed by Al Saadiyat Island with transactions worth $327mn and Al Shamkha at third spot with deal worth $272mn.

Investors from the UAE, GCC and around the world have continued to boost the emirate's real estate market, the report said.

Al Afifi added, "As we enter the second half of 2022, we expect to see significant investment opportunities, particularly with the introduction of several new projects that will boost Abu Dhabi's real estate market."

Early in July, the DMT revealed redevelopment plans for the Al Bateen Ladies Beach, while later in the month, Abu Dhabi's DoE inks deal to collaborate on energy opportunities with Colombia's Ministry of Mines and Energy.