ABU DHABI, 7th June, 2024 (WAM) — The Abu Dhabi Real Estate Centre (ADREC) – the custodian and regulator of Abu Dhabi’s real estate sector – announced today record levels of foreign direct investment (FDI) into the emirate’s growing real estate market, with 487 individual investors injecting AED1.81 billion in the first quarter of 2024.
These investors, from source markets including India, Russia, Canada, the UK, Jordan, and China, significantly increased their investments compared to the same period last year.
“The performance of Abu Dhabi’s real estate market in the first three months of the year underscores the sector’s increasing appeal to international investors. The robust growth on show offers encouraging signs for the remainder of 2024, and ADREC stands ready to provide seamless services and support to all stakeholders connected to Abu Dhabi’s globally competitive real estate sector,” Rashed Al Omaira, Acting Director General, Abu Dhabi Real Estate Centre.
Abu Dhabi real estate transactions reached AED 19.4 billion in Q1 across 6,070 transactions. AED 12.8 billion was secured through sales and purchases, representing 66% of the total volume with 3,724 transactions, and AED 6.6 billion mortgage transactions with 2,328 transactions.
The latest update from ADREC – an affiliate of the Department of Municipalities and Transport – Abu Dhabi (DMT) – illustrates strong investor confidence in Abu Dhabi real estate, and the increasing importance of the sector to the emirate’s wider vision for economic diversification.
