Over AED22.5 billion in total real estate transactions were recorded in Abu Dhabi in the first half of the year, reflecting the sector’s overall hyperactivity in the UAE in recent years.
Most of the recorded transactions were in Yas Island at AED1.8 billion, followed by Saadiyat Island at AED1.2 billion, according to data from the Department of Municipalities and Transport.
“Abu Dhabi’s leadership implemented several sound policies and strategic measures to achieve these results,” Adeeb Al Afifi, the department’s real estate executive director, said in a statement on Wam.
The UAE has been introducing policy reforms that make it easy for foreign investors to enter the Gulf nation – also as part of the country’s aim to attract more people to live and work in the country.
The real estate sector has been a critical arm in this economic strategy, with transactions, even in other emirates such as Dubai and Ras Al Khaimah in the north, skyrocketing in recent months.
The recent Abu Dhabi figures included 7474 including land, buildings and real estate transactions that were purchased, sold, or mortgaged.
Other areas that saw significant deals include Al Shamka at AED1 billion, Al Reem Island at AED872 million, Khalifa City at AED310 million, and Al Raha Beach with AED300 million worth of transactions.