Abu Dhabi's real estate transactions hit AED 11.5bn in Q1-21

SectorReal Estate

UAE – Mubasher: The total value of real estate transactions in Abu Dhabi amounted to AED 11.5 billion during the first quarter (Q1) of 2021, according to a recent report by the Abu Dhabi The Department of Municipalities and Transport (DMT).

This recorded value included around 3,847 lands, buildings, and real estate units transactions.

The value of real estate sales reached about AED 5 billion with 1,755 transactions, while the real estate mortgage value recorded AED 6.5 billion with 2,092 transactions.

Lands represented 66% of the total sales during the first three months of 2021 with a value of AED 3.3 billion generated from 777 transactions.

In the meantime, the real estate units in the total sales value accounted for 34% with 978 transactions valued at AED 1.7 billion.

As for the mortgages, lands comprised the majority of them with a value of AED 6.2 billion, while the real estate units represented 4% of the total value of mortgages.

The Executive Director of the Real Estate Sector in the Department of Municipalities and Transport, Adeeb Al Afeefi, said: ”Working closely with...read more...