20 January 2025
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Abu Dhabi Real Estate Sees Record FDI in Q1 2024
The Abu Dhabi Real Estate Centre (ADREC), the regulator of Abu Dhabi’s real estate sector, announced a record foreign direct investment (FDI) in the first quarter of 2024. This investment came from 487 individual investors from markets including India, Russia, Canada, the UK, Jordan, and China, marking a significant increase compared to the same period last year.
Rashed Al Omaira, Acting Director General of ADREC, stated, “The performance of Abu Dhabi’s real estate market in the first three months of the year highlights its growing appeal to international investors. The robust growth signals a positive outlook for the remainder of 2024, and ADREC is committed to providing seamless services and support to all stakeholders in Abu Dhabi’s globally competitive real estate sector.”
In Q1 2024, Abu Dhabi’s real estate transactions totaled Dhs19.4 billion across 6,070 transactions. Sales and purchases accounted for Dhs12.8 billion (66% of the total volume) with 3,724 transactions, while mortgage transactions reached Dhs6.6 billion across 2,328 transactions.
ADREC, an affiliate of the Department of Municipalities and Transport (DMT) in Abu Dhabi, emphasized the strong investor confidence in the emirate’s real estate market and its role in Abu Dhabi’s broader economic diversification strategy.
Earlier, ADREC relocated its Real Estate Transaction Centre and Customer Service Hall to its new headquarters in Al Markaziyah, Abu Dhabi. These facilities are now operational and aim to enhance the customer service experience for stakeholders in Abu Dhabi’s real estate ecosystem.
Mohamed Ali Al Shorafa, Chairman of DMT, commented, “Abu Dhabi is committed to elevating its real estate sector to be among the most resilient, commercially attractive, and sustainably developed in the world. 2024 will be a pivotal year, and we look forward to collaborating with stakeholders to shape the future of Abu Dhabi’s real estate.”
Senior officials from ADREC and DMT toured the new headquarters and confirmed that further details on ADREC’s plans to transform Abu Dhabi’s real estate sector will be released soon.
Rashed Al Omaira added, “This is a significant milestone for ADREC as part of our strategy to support Abu Dhabi’s world-class real estate sector. Combining the Transactions Centre and Customer Service Hall under one roof will deliver greater value, efficiency, and convenience for stakeholders.”
ADREC offers a wide range of services, including land management, construction processes, professional licensing, contract management, certification, consulting, loans, and workspace solutions. These services are accessible both in-person and online through the TAMM platform, developed in collaboration with the Abu Dhabi Digital Government.
Launched in November 2023, ADREC aims to accelerate growth in Abu Dhabi’s real estate ecosystem. Its strategy focuses on four pillars: Real Estate Strategy, Real Estate Promotion, Real Estate Regulation, and Real Estate Transactions Management.
In April, Abu Dhabi recorded real estate transactions worth Dhs15.9 billion in Q1 2024, with 5,127 sales and mortgage transactions. According to DMT’s DARI platform, there were 2,919 sales and purchases transactions totaling over Dhs9.6 billion, including 1,167 ready-made units and 1,752 off-plan units. Additionally, 2,208 mortgage deals were recorded, valued at Dhs6.3 billion.
Recent top transactions included properties on Al Saadiyat Island and Yas Island, with Yas Island transactions totaling Dhs23.5 million and Al Saadiyat Island transactions reaching Dhs14.3 million.
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