The Abu Dhabi Real Estate Centre (ADREC) has revealed a historic milestone, reporting record-breaking real estate transactions totaling AED87.1 billion ($23.7 billion) in Abu Dhabi last year.

According to the Department of Municipalities and Transport (DMT), the value of buying and selling activities skyrocketed by an impressive 159.5 percent, reaching AED61 billion ($16.6 billion) compared to 2022.

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ADREC’s analysis, based on 15,653 transactions, reflects a substantial 73.7% surge from the previous year, underlining the robust growth of the Abu Dhabi real estate market.

In comparison to 2022, the sector experienced a commendable 12.2% increase in total buying, selling, and mortgage activities, with a total of 22,751 transactions, marking a notable 19.5% rise from the corresponding period.

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Moreover, ADREC observed a significant influx of individual investors in 2023, including both residents and non-residents, showcasing the diversified nature of Abu Dhabi’s real estate landscape.

The emirate witnessed a remarkable surge, with 9,448 newly registered investors and 1,098 non-resident investors, reflecting substantial increments of 71% and 175%, respectively, compared to 2022.

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Aligned with the visionary directives of our leaders, the Abu Dhabi real estate market is poised for steady and sustainable growth, reaffirming the emirate’s prominence as a premier global destination for real estate investments.

This noteworthy upsurge highlights Abu Dhabi’s ongoing achievements, reinforcing its allure, continuous development, and potential for future expansion.

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These achievements are in harmony with ADREC’s strategic mission to position Abu Dhabi as a leading global real estate hub and drive the advancement of the entire real estate sector.

Furthermore, these developments underscore the resilience and appeal of the emirate’s real estate industry, drawing interest from both domestic and international investors, solidifying its status as a favored destination for real estate investment on a global scale.

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To fortify Abu Dhabi’s position in the global real estate arena, ADREC remains steadfast in its commitment to ensuring that the country’s real estate market remains attractive to both domestic and foreign capital investments.