The Abu Dhabi Real Estate Centre (Adrec) has announced that the sector has received record levels of foreign direct investment (FDI) with 487 individual investors injecting 1.81 billion dirhams ($482 million) during the first quarter of 2024.
The custodian and regulator of Abu Dhabi’s real estate sector, Adrec, said these investors, from source markets including India, Russia, Canada, the UK, Jordan and China, significantly increased their investments compared to the same period last year.
“The performance of Abu Dhabi’s real estate market in the first three months of the year underscores the sector’s increasing appeal to international investors,” Rashed Al Omaira, the acting director general at Adrec.
“The robust growth on show offers encouraging signs for the remainder of 2024, and Adrec stands ready to provide seamless services and support to all stakeholders connected to Abu Dhabi’s globally competitive real estate sector,” he noted.
According to Adrec, Abu Dhabi real estate transactions surged to AED19.4bn in Q1 across 6,070 transactions.
“AED12.8bn was secured through sales and purchases, representing 66 per cent of the total volume with 3,724 transactions, and AED6.6bn mortgage transactions with 2,328 transactions,” stated Al Omaira.
The latest update from Adrec illustrates strong investor confidence in Abu Dhabi real estate, and the increasing importance of the sector to the emirate’s wider vision for economic diversification, he added
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