Abu Dhabi residential rental contracts shows a increase in recorded number of contracts during the first half of the 2024.
In the first half of 2024, there was a notable increase in the number of recorded residential rental contracts in Abu Dhabi, the capital of the United Arab Emirates (UAE). Official data from the Statistics Centre—Abu Dhabi show that 49,135 contracts were recorded in total, representing a remarkable 102% annual rise over the same period in 2023.
43,985 contracts were signed in Abu Dhabi by itself, which represents a 104.9% yearly growth over the 21,465 contracts signed in the first half of 2023. Major development was also seen in Al Ain City, where there were 4,819 recorded rental contracts in 2024 as opposed to 2,715 in 2023, a 77% increase. There were 331 contracts registered in the Al Dhafra region in H1 2024, compared to 144 contracts in the same period the previous year.
After a record increase of 2.9% in March, June saw the second-largest growth in documented contracts year over year.
Abu Dhabi’s strong rental market, which attracts in both domestic and foreign investors, is evidence of the city’s bright economic future. A increasing population, better amenities, and developing infrastructure are some of the factors supporting up rental demand.
Real estate developers and investors should keep updated on these developments as Abu Dhabi develops and adjust the plan as necessary.
In conclusion, Abu Dhabi’s real estate market continues to grow and the increase in rental agreements highlights the city’s ability to adapt and attraction for both locals and foreign investors. The future possibilities are promising due to the city’s fast development.
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