Abu Dhabi has reported a record-breaking total of AED 87.1 billion in real estate transactions for the year 2023.
That's according to Real Estate Centre (ADREC) has revealed the UAE capital
The figure is a whopping 159.5 per cent increase on the AED 61 billion in sales recorded in 2022.
The increase is based on 15,653 transactions, which represents a 73.7 per cent rise from 2022.
ADREC also saw an increase in resident and non-resident individual investors during 2023, seeing 9,448 newly registered investors and 1,098 non-resident investors – marking significant increases of 71 per cent and 175 per cent respectively, compared to 2022.
.@adrec_ae has recorded AED87.1 billion in real estate transactions in 2023, a record-breaking year for buying and selling activity in the emirate. The results demonstrate Abu Dhabi’s sustainable growth and attractiveness as a global destination to live and work. pic.twitter.com/ifbnq3jHpl
— مكتب أبوظبي الإعلامي (@ADMediaOffice) March 19, 2024
ADREC is tasked with ensuring that Abu Dhabi’s real estate market is the destination of choice for regional and international capital investment.
Trump signals tit-for-tat China tariffs may be near end; TikTok deal on ice
Mubadala announces $600M investment in Nord Anglia Education
Shein, Temu to hike prices under pressure from Trump's trade policies
US issues new sanctions targeting Chinese importers of Iranian oil
IATA: Aviation sector contributes $92 billion to UAE economy
