Friday 02 December 2022 - 10:32:35 am

Abu Dhabi real estate transactions hit AED 16 billion in Q3 2021

ABU DHABI, 4th November, 2021 (WAM) -- Real estate transactions in Abu Dhabi for the third quarter 2021 reached AED 16.2 billion, according to a report issued by the Department of Municipalities and Transport (DMT).

The value was accounted for by 3,932 real estate transactions involving land, buildings and units, of which 1,708 accounted for AED 4.6 billion, while an additional AED 11.6 billion was generated by 2,224 mortgage transactions.

Yas Island topped the Q3 2021 report with the highest value in terms of total sales at AED 1.1 billion, followed by Saadiyat Island with total sales of AED 705 million, AL Jarf Forest Belt in third place with AED 658 million, followed by Al Reem Island with AED 485 million and Khalifa City with AED 237 million, with the balance of sales spread across various other regions in the Emirate of Abu Dhabi.

Dr. Adeeb Al Afeefi, Executive Director of the Real Estate Sector at DMT, said: "Abu Dhabi's real estate transaction results for the third quarter of 2021 demonstrate the strength of the emirate's sustainable economy and the extent of its effective response to the stimulus measures and economic incentives adopted by our leaders, reflecting DMT's efforts to deliver on their vision to strengthen Abu Dhabi's position as one of the world's leading destinations for investment, living and stability, and to build integrated communities with the best services and infrastructure, thus contributing to sustainable prosperity and promote an improved quality of life in the Emirate of Abu Dhabi."

WAM/Tariq alfaham/Hassan Bashir