The Abu Dhabi Real Estate Centre (ADREC) unveiled on Friday a remarkable surge in foreign direct investment (FDI) within the emirate's burgeoning real estate sector. In the first quarter of 2024, a total of 487 individual investors injected Dh1.81 billion into the market, setting a new record for FDI influx. These investors hailed from diverse countries such as India, Russia, Canada, the United Kingdom, Jordan, and China, signaling a substantial increase in their investments compared to the same period last year.
Rashed Al Omaira, the Acting Director General of Abu Dhabi Real Estate Centre, highlighted the sector's escalating appeal to international investors. He emphasized the robust growth witnessed in Abu Dhabi's real estate market during the initial months of the year, expressing optimism for the remainder of 2024. Al Omaira reiterated ADREC's commitment to providing seamless services and support to stakeholders involved in Abu Dhabi's globally competitive real estate sector.
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During the first quarter, Abu Dhabi recorded a total of Dh19.4 billion in real estate transactions, encompassing 6,070 completed transactions. Sales and purchases accounted for Dh12.8 billion, constituting 66% of the total transaction volume with 3,724 transactions. Mortgage transactions amounted to Dh6.6 billion, involving 2,328 transactions.
This latest update from ADREC, an affiliate of the Department of Municipalities and Transport – Abu Dhabi (DMT), underscores the robust investor confidence in Abu Dhabi's real estate market. It also underscores the sector's increasing significance to the emirate's overarching economic diversification strategy, as highlighted by the state news agency WAM.
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