The Abu Dhabi Estate Centre (ADREC) has announced that the field of real estate has received outstanding levels of foreign direct investment (FDI) from 487 investors, who contributed approximately 1.81 billion dirhams ($482 million) during Q1 of 2024.
Regulators at ADREC have stated that investors from India, Canada, Russia, China, Jordan, and the UK have noticeably invested more in the field compared to the same period last year. Rashed Al Omaira, General Director at ADREC, highlighted that many international investors have shown interest in the Abu Dhabi real estate sector over the last few months of 2024, boosting the field’s performance.
“The strong growth we’re seeing is a positive indicator for the rest of 2024. ADREC remains committed to providing efficient services and supporting everyone involved in Abu Dhabi’s thriving real estate market, which is now a major player on the global stage,” he noted.
According to ADREC, real estate transactions in Abu Dhabi witnessed a rise amounting to 19.4 billion dirhams in Q1 across 6,070 transactions. Al Omaira added that sales and purchases accounted for a significant portion, at 12.8 billion dirhams, representing two-thirds of the total volume with 3,724 transactions. Mortgage transactions contributed 6.6 billion dirhams with 2,328 transactions. This recent data from ADREC underlines the strong faith investors have in Abu Dhabi’s real estate market.
It also emphasizes the growing significance of this sector to the emirate’s overall plan for diversifying its economy.
Read more: https://www.gdnonline.com/Details/1314728/Abu-Dhabi-real-estate-sector-records-$482m-FDI
