The Abu Dhabi Real Estate Centre (ADREC) has reported a remarkable surge in real estate transactions for the year 2023, reaching an unprecedented AED 87.1 billion ($23.7 billion). This surge marks a substantial increase of 159.5 percent from the previous year, totaling AED 61 billion ($16.6 billion).

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With a total of 15,653 transactions, ADREC noted a significant surge of 73.7% compared to 2022, reflecting a thriving real estate market in Abu Dhabi.

The sector’s overall buying, selling, and mortgage activities witnessed a notable uptick of 12.2% in comparison to 2022, with a total of 22,751 transactions recorded, signifying a 19.5% increase year-over-year.

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Furthermore, ADREC observed a notable rise in both resident and non-resident individual investors in 2023, showcasing the diversity and attractiveness of Abu Dhabi’s real estate market. The emirate saw a remarkable influx of 9,448 newly registered investors and 1,098 non-resident investors, marking substantial increases of 71% and 175%, respectively, compared to the previous year.

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The robust performance of the Abu Dhabi real estate market in 2023 underscores the emirate’s commitment to steady and sustainable growth, reaffirming its position as a prime destination for global real estate investments. These achievements align closely with ADREC’s strategic goal of positioning Abu Dhabi as a premier global real estate hub and driving the expansion of the entire real estate sector.

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The upward trajectory of the emirate’s real estate industry reflects its resilience and potential, drawing interest from both domestic and foreign investors and solidifying its status as a sought-after investment destination on a global scale.

ADREC remains dedicated to bolstering Abu Dhabi’s prominence in the global real estate landscape, ensuring that the country’s real estate market continues to attract domestic and foreign capital investments.