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Abu Dhabi, United Arab Emirates
The Abu Dhabi Real Estate Centre (Adrec) has announced that the sector has received record levels of foreign direct investment (FDI) with 487 individual investors injecting AED1.81 billion ($482 million) during the first quarter of 2024.
The custodian and regulator of Abu Dhabi’s real estate sector Adrec said 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," Rashed Al Omaira, the Acting Director General at Adrec.
"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," he noted.
According to Adrec, Abu Dhabi real estate transactions surged to AED19.4 billion in Q1 across 6,070 transactions.
"AED12.8 billion was secured through sales and purchases, representing 66% of the total volume with 3,724 transactions, and AED6.6 billion mortgage transactions with 2,328 transactions," stated Al Omaira.
The latest update from Adrec 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, he added.
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