In a remarkable surge, the Abu Dhabi real estate market achieved unprecedented heights last year. With transactions totaling AED 87.1 billion (equivalent to $23.7 billion), the sector demonstrated robust growth and resilience. Let’s delve into the key highlights of this remarkable journey.

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1. Tremendous Growth in Transactions

The Abu Dhabi Real Estate Centre (ADREC), an affiliate of the Department of Municipalities and Transport (DMT), reported a staggering 159.5% increase in the value of buying and selling activities. The total transaction volume reached AED 61 billion (approximately $16.6 billion), based on 15,653 transactions. This surge represents a substantial 73.7% rise compared to the previous year.

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2. Comprehensive Market Activity

The real estate sector witnessed a comprehensive surge across various aspects:

• Buying and Selling: The combined activity of buying and selling, along with mortgage transactions, increased by 12.2% compared to 2022.
• Overall Transactions: ADREC analyzed a total of 22,751 transactions, reflecting a significant 19.5% growth year-on-year.

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3. Diverse Investor Landscape

Abu Dhabi’s real estate market attracted a diverse pool of investors in 2023:

• Resident and Non-Resident Investors: The surge was not limited to a specific category. Both residents and non-residents participated actively.
• Notable Increases: A remarkable 71% increase in newly registered investors and a substantial 175% rise in non-resident investors were observed compared to 2022.

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4. Vision for Steady and Sustainable Growth

As envisioned by our leaders, the Abu Dhabi real estate market is poised for steady and sustainable growth. The emirate continues to be a top global destination for real estate investments. The surge in 2023 reaffirms Abu Dhabi’s ongoing accomplishments, attractive standing, and potential for future development.

5. ADREC’s Strategic Objective

ADREC remains committed to establishing Abu Dhabi as a premier worldwide real estate hub. By spearheading the expansion of the entire real estate sector, the emirate aims to maintain its position as a beacon of growth and opportunity.

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In summary, Abu Dhabi’s real estate market is not only thriving but also shaping a promising future. As investors and stakeholders, let’s continue to build on this success and contribute to the emirate’s enduring legacy.