Likes of Aldar and Bloom have ramped up offplan releases amidst solid demand

Published: July 22, 2022 10:39 Gulf News Report

Abu Dhabi skyline

Yas and Saadiyat islands have been helped by a series of launches through the period. Aldar has had a couple of launches near the cultural landmarks.Image Credit: Reuters

Dubai: Steady offplan launches and a deep well of demand were enough for Abu Dhabi’s property market record more than Dh22.5 billion in the first six months of the year. This compares with Dh23.57 billion a year ago.

Abu Dhabi’s big developers – Aldar, Q Properties, Bloom, Jubail – all had new launches or sales releases during this period, and met with solid investor responses. In all, there were 7,474 property transactions, data from Abu Dhabi’s Department of Municipalities and Transport show. This includes land, buildings sold in full and transactions with mortgages.

DMT Real estate deals H1-2022

Image Credit: Supplied

As per the latest report released by the Department of Municipalities and Transport (DMT), Abu Dhabi’s real estate market sustained growth driven by investor optimism, recording 7,474 property transactions amounting to over Dh 22.51 billion. “Abu Dhabi has maintained its standing as a world-class market and investment destination,” said Dr. Adeeb Al-Afifi, Executive Director of the Real Estate Sector at the Department.

“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.”

– Dr. Adeeb Al-Afifi, Executive Director of the Real Estate Sector at the Department

Yas Island Festive Fireworks

The DMT’s real estate trading index shows 3,568 purchase and sale transactions worth Dh8.9 billion and 3,906 mortgage transactions of Dh13.61 billion.

Among the Top 5 areas in terms of numbers and value, Yas Island topped the list with Dh1.8 billion and Saadiyat Island in second at Dh1.2 billion. With Dh1 billion, Al Shamkha was third, Al Reem Island in fourth with Dh872 million, and the Khalifa City following with Dh310 million.

Article originally published on GulfNews.