Abu Dhabi saw $5.729bn (AED21.04bn) of real estate transactions in Q3 says a report by the Department of Municipalities and Transport.
It is a sign of continued growth in the Abu Dhabi real estate market as it saw a total of 4,441 property transactions in the period.
The department’s quarterly report indicates that all kinds of land, buildings, and real estate were purchased, sold, and mortgaged.
Most popular areas for Abu Dhabi real estate
The emirate recorded 1,995 real estate sale transactions worth $1.468bn (AED5.39b) and 2,446 mortgage transactions worth $4.258bn (AED15.64bn).
Yas Island topped the list with transactions worth AED1bn with Al Saadiyat Island coming in at second place with transactions worth AED929m. With AED641m, Al Shamkha came in third, Al Reem Island came in fourth with AED541m, and Khalifa City came in fifth with AED208m. Mohammed bin Zayed City came in sixth with transactions worth AED182m.
Dr. Adib Al-Afifi, Executive Director of the Real Estate Sector at the Department of Municipalities and Transport, said: “The real estate market in the Emirate of Abu Dhabi continues to achieve outstanding results and continuous and sustainable growth.
“By providing more options for investment in the real estate market and increasing the transparency of this vital sector contributes to the strengthening of Abu Dhabi’s global position as one of the most lucrative destinations for real estate investment.”
Real estate continues to be a growth sector in neighbouring Dubai, which saw $44bn of real estate transactions in the first eight months of the year.
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