Abu Dhabi real estate market achieved a remarkable milestone by breaking mortgage records with deals totaling $3.7 billion (AED13.5 billion) across 2,594 transactions.
In the third quarter of 2024, Abu Dhabi’s real estate market achieved a remarkable milestone by breaking mortgage records with deals totaling $3.7 billion (AED13.5 billion) across 2,594 transactions. This represents a robust 20% increase compared to previous quarters, marking the highest quarterly volume in several years. The surge in mortgage transactions is a testament to the growing confidence in Abu Dhabi’s real estate sector, driven by a combination of favorable economic conditions, government initiatives, and attractive financing options.
The total value of real estate transactions from the beginning of the year until the end of September reached an impressive AED55.6 billion ($15.1 billion). This figure includes nearly 18,000 sales and mortgage transactions, with AED30.5 billion ($8.3 billion) from sales and AED25.1 billion ($6.8 billion) from mortgages. The emirate saw the sale of 10,440 real estate units, comprising 4,137 completed units and 6,303 off-plan units. This diverse mix of transactions highlights the dynamic nature of Abu Dhabi’s real estate market, catering to a wide range of investors and homebuyers.
One of the key factors contributing to this record-breaking performance is the comprehensive digital platform, Dari, which has streamlined the real estate transaction process in Abu Dhabi. Dari’s user-friendly interface and efficient services have made it easier for buyers and sellers to navigate the market, thereby boosting overall activity. Additionally, the government’s continued investment in infrastructure and development projects has enhanced the attractiveness of the emirate as a prime real estate destination.
The strong performance in Q3 2024 is also reflective of the broader economic stability and growth in the UAE. With a strategic location, world-class amenities, and a high standard of living, Abu Dhabi continues to attract both local and international investors. The emirate’s proactive approach to urban planning and sustainable development further reinforces its position as a leading real estate market in the region.
Looking ahead, the outlook for Abu Dhabi’s real estate market remains positive. The sustained demand for residential and commercial properties, coupled with ongoing government support and innovative digital solutions, is expected to drive continued growth. Investors and homebuyers can look forward to a vibrant and resilient market that offers ample opportunities for investment and development.
In summary, the record-breaking mortgage deals in Q3 2024 underscore the strength and potential of Abu Dhabi’s real estate sector. With a solid foundation and a forward-looking approach, the emirate is well-positioned to maintain its momentum and achieve even greater heights in the future.
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