The first half of 2024 has proven to be a landmark period for Abu Dhabi’s real estate market, which experienced a remarkable 225% increase in foreign direct investment (FDI) compared to the same timeframe in 2023, according to data released by the Abu Dhabi Real Estate Centre (ADREC).
During this period, the emirate attracted a significant AED3.28 billion in real estate investments. This influx of capital came from 971 individual investors representing 75 countries, highlighting Abu Dhabi’s growing status as a global investment hub. The diverse investor base includes significant contributions from countries such as the United States, the United Kingdom, China, Kazakhstan, and Russia, showcasing the wide-reaching appeal of Abu Dhabi’s real estate offerings.
“The robust performance of Abu Dhabi’s real estate market is a testament to the strategic initiatives we’ve implemented to position the emirate as a leading global investment hub,” stated Rashed Al Omaira, Acting Director General of ADREC. “This surge in investment reflects the success of our efforts to attract global capital, and we anticipate that this positive trend will continue into the second half of the year.”
Al Omaira further emphasized that the ongoing development of a business-friendly environment in Abu Dhabi is central to sustaining this growth.
“Our unwavering commitment to excellence ensures that Abu Dhabi remains a trusted and attractive option for global investors,” he said. “We are focused on creating an investment landscape characterized by innovation, transparency, and efficiency. By streamlining procedures and leveraging advanced technologies, we are making Abu Dhabi an optimal destination for global investments.”
The first six months of 2024 also saw a total of 12,439 real estate transactions in Abu Dhabi, with a cumulative value of AED36.2 billion. This includes AED23.7 billion generated from 7,088 sales and purchase transactions and AED12.5 billion from 5,351 mortgage transactions.
The significant rise in FDI aligns with Abu Dhabi’s broader vision of economic diversification, which aims to reduce dependence on oil revenues by bolstering other sectors, including real estate. The influx of foreign capital into the property market not only strengthens the emirate’s economy but also supports its long-term strategic goals.
As the year progresses, Abu Dhabi remains optimistic about maintaining this upward trajectory, with ongoing initiatives aimed at further enhancing its appeal to international investors. The emirate’s focus on innovation and efficiency, coupled with its strategic location and robust infrastructure, continues to make it an attractive destination for those looking to invest in real estate.
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